Purchase & Sale
The Real Estate Practice Group has represented a wide variety of clients in connection with the purchase and sale of all kinds of real property including sophisticated multi-state transactions, portfolios of properties, shopping centers, office buildings, industrial facilities and apartment complexes.
Experience
- Represented multi-family developer in the sale of affordable senior housing development in Houston, Texas.
- Represented a buyer in connection with its acquisition of three gas stations in Oklahoma, Kansas, and Mississippi for an aggregate purchase price of $74 million.
- Represented a buyer in connection with its acquisition of five properties leased to national retailer for an aggregate purchase price over $8 million.
- Represented a large private equity firm in the sale of four multifamily apartment properties in Ohio for over $60 million.
- Represented a large private equity firm in the buyout of its membership interests in a joint venture owning a hotel located in Illinois.
- Represented a large private equity fund in connection with its $30,000,000+ acquisition of 16 properties located in Alabama and New York leased to a larger national retailer.
- Represented a leading international investment and management firm in its $8.2 million disposition of an office complex in Maryland.
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Represented one of the largest multifamily developers in the country as the seller in its disposition of an affordable housing property in Michigan, structured as a partnership interest entity sale.
- Represented a large private equity fund in connection with its acquisition of forty bank branch locations in a more than $55 million NNN sale-leaseback portfolio transaction.
- Represented a leading international investment and management firm in its $14 million disposition of an office building in Santa Clara, CA.
- Represented a large private equity fund in connection with its acquisition of eleven retail locations across two states in a more than $22 million NNN sale-leaseback portfolio transaction.
- Represented a large private equity fund in connection with its acquisition of thirteen bank branch locations in a more than $21 million NNN sale-leaseback portfolio transaction.
- Represented one of the largest multifamily developers in the country as the seller in its disposition of an affordable housing property in Texas, which involved collapsing a ground lease structure to sell fee title to the property, negotiating equity contributions to fund closing contributions by the partnership of the property-owning partnership and the defeasance and later redemption of bond financing.
- Represented one of the largest multifamily developers in the country as the seller in its disposition of five affordable housing properties in Texas totaling over $73,000,000, with three sales structured as partnership interest entity sales and the other two structured as fee simple sales.
- Represented one of the largest multifamily developers in the country as the seller in its disposition of two affordable housing properties in Texas totaling over $50,000,000, with one sale structured as a partnership interest entity sale and the other structured as a fee simple sale.
- Represented a large publicly traded REIT in the acquisition of a multistate portfolio of 6 NNN Walgreens.
- Represented one of the nation's largest multifamily housing developers in the sale of the partnership interests in three affordable housing properties, which was cross-conditioned with the sale of two fee simple affordable housing properties.
- Represented one of the nation’s largest multifamily housing developers in the sale of a $109 million multifamily property in Florida.
- Represented one of the nation’s largest multifamily housing developers in the sale of a 4 asset multistate disposition of affordable housing properties structured as 4 cross-conditioned, cross-defaulted partnership interest deals in order to streamline certain consent processes.
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Represented a consortium of multibillion dollar multinational investor funds in the real estate matters related to a REIT’s contribution of a portfolio of over 40 NNN properties into a joint venture between the investors and the REIT to serve as the seed properties for an approximately $1.2 billion NNN property platform.
- Represented one of the largest owners and operators of real estate in the world in the sale of a grocery-anchored shopping center in the San Francisco area for over $100 million.
- Represented one of the nation’s largest multifamily housing developers in the sale of a $40 million apartment complex in Texas, including the defeasance of $32 million of securitized agency financing.
- Represented the seller of an $80 million multifamily apartment complex developed on a former Brownfield in North Carolina.
- Represented the owner of a power center in Texas in the sale of an outparcel for $2 million, which included a subdivision exemption and loan modification.
- Represented the seller of the membership interests in a multifamily apartment property in Ohio and related Fannie Mae loan assumption.
- Represented the seller of multiple office properties in California totaling over $40 million.
- Represented the seller of a $58 million multifamily apartment complex in Texas, which included modifications to the property’s TIRZ structure.
- Represented a buyer in a multistate sale-leaseback transaction.
- Represented the seller of a $46 million multifamily apartment complex consisting of part of a mixed use development in Texas.
- Represented Fortune 500 company in the $36,500,000 sale of a 167-unit multifamily property near Minneapolis, Minnesota.
- Represented a privately held real estate investment and management company holding over $1 billion in assets in the $39 million acquisition of a research and development facility located near Dayton, Ohio, including negotiating the purchase agreement on an expedited basis and analyzing all diligence for the site including a commercial lease and reciprocal easement agreement.
- Represented a privately held real estate investment and management company holding over $1 billion in assets in the almost $18 million acquisition of a shopping center in Fort Wayne, Indiana, including negotiating the purchase agreement on an expedited basis, negotiating an $11,000,000 acquisition loan from an insurance lender, reviewing all diligence for the site including retail leases, as well other complex title matters and survey issues.
- Represented a diverse group of sellers in the sale of a portfolio of 18 shopping centers located in five states for nearly $300 Million.
- Represented a NYSE REIT in the acquisition of several class A apartment complexes with purchase prices in the range of $30 Million to $36 Million.
- Acquisition and financing of a portfolio of 12 office/warehouse properties for over $18 Million by a group of entities acting as tenants-in-common in a like-kind exchange under Section 1031 of the Internal Revenue Code (represented the buyers/borrowers).
- Supervised a team of attorneys in the programmatic disposition of "big box" retail properties throughout the United States for a NYSE REIT.
- Acquisition of an 80,000 square foot office building and parking garage constructed on a remediated brownfield site for over $18 Million (represented the buyer).
- Represented a NYSE REIT in the sale of shopping centers throughout the United States with sale prices in the range of $15 Million to $60 Million.
- Acquisition of 30,000 square foot building and 12.4 acres of land for redevelopment into corporate headquarters for a medical billing company.
- Acquisition of an integrated mixed-use complex of a 57 story 1.3 million square foot trophy office building, 10 story historic office and bank building, 400-key Marriott hotel and 985 space subterranean parking garage for $267.5 Million (represented buyer).
- Represented one of the world’s largest real estate owners and managers in the disposition of a grocery-anchored shopping center in Nassau County, New York, with a purchase price of $75 million.
- Represented one of the world’s largest real estate owners and managers in the disposition of a power center in Alabama with a purchase price of almost $54 million.
- Represented Canadian investors in the acquisition of a value-add multifamily apartment complex with ground floor retail located in Northeast Ohio and acquisition and renovation financing through a CMBS loan.
- Represented one of the nation’s largest multifamily housing developers in a multiple-layered joint venture.
- Represented the seller in the disposition of a light industrial complex in Jacksonville, Florida, including a “reverse” 1031 exchange.
- Represented the purchaser in the membership interest purchase of a limited liability company that owns a 150+ unit multifamily apartment complex located near Louisville, Kentucky, which acquisition also involved a HUD loan assumption and a joint venture.
- Represented the purchaser in the acquisition and financing of a shadow-anchored shopping center located near Grand Rapids, Michigan, including a “reverse” 1031 exchange.
- Represented one of the world’s largest real estate owners and managers in the disposition of a power center near Birmingham, Alabama, with a purchase price in excess of $60 million.
- Represented the seller in connection with the $1.32 million sale, subdivision and negotiation of an REA for the split redevelopment of a retail parcel in Ohio into retail and hotel uses.
- Represented a publicly traded REIT in the approximately $400 million disposition of a 16-property multistate portfolio of shopping centers.
- Represented the developer in a multiple-layered joint venture and construction financing for a $80 million 330+ unit multifamily apartment development in Pittsburgh, Pennsylvania.
- Represented the developer in a multiple-layered joint venture and construction financing for a $48 million 360+ unit multifamily apartment development near Austin, Texas.
- Represented the developer in the acquisition and construction financing for a $56 million 300+ unit multifamily apartment development in Cleveland, Ohio, including a $42 million senior syndicated construction financing and $12 million mezzanine financing.
- Represented the purchaser in the purchase and financing of a 600,000+ SF single-tenant industrial facility in Ashland, Ohio.
- Represented a publicly-held REIT in the disposition of multiple outparcel lots at a retail shopping center complex in Charlotte, North Carolina.
- Represented the purchaser in the acquisition of a 104,000+ SF shopping center west of Chicago, Illinois, with a purchase price of approximately $6.7 million, including a 1031 exchange, and the development of a new outparcel.
- Represented the purchaser in the acquisition of a 150 unit multi-building apartment complex in Florida for a purchase price in excess of $7 million, including the assumption of existing HUD indebtedness on the property.
- Represented the purchaser in the acquisition of a 76,000+ SF shopping center for a purchase price in excess of $4.8 million.
- Represented the purchaser in the acquisition and Fannie Mae-backed financing of a 150+ unit multi-building apartment complex in Florida for a purchase price in excess of $9 million.
- Represented the buyer of a multimillion dollar warehouse facility in Missouri.
- Represented the publicly-held seller of a warehouse in Kentucky.
- Represented a private, post-secondary educational institution in multiple sale-leaseback transactions nationwide.
- Advised clients on purchase and sale of shopping centers and commercial buildings ranging in size from $1 million to $30 million.
- Advised a large multinational public company on multi-state property acquisitions and divestitures, bringing in local counsel, as appropriate, to ascertain local laws and customs.
- Advised a public company on the sale of more than $100 million in assets.
- Represented seller in sale of parcel within a retail shopping center to a national retailer, which included negotiation of a reciprocal easement agreement and development agreement.
- Represented buyer in the purchase of a multi-million dollar manufacturing facility.
- Represented a NYSE REIT in the sale of a multi-state portfolio of 16 shopping centers for $400 Million.
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Summer 2018
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August 10, 2017
Clients Rank Benesch's Real Estate Practice a Leader in Client Relationships in BTI Report
January 25, 2017
3 Firms Steer $81M Chicago Mall Deal