Represented a private equity fund in its acquisition, in joint venture with affiliates of Carey Watermark and Marcus Hotels and Resorts, of the 372-room Atlanta Westin Perimeter Hotel. In less than 30 days, the team and co-counsel negotiated and concluded the acquisition, joint venture, hotel management, and franchise and loan documentation. Total acquisition and committed property improvement costs were $57 million.
Represented developer/landlord in the development and leasing of new regional headquarters for GlaxoSmithKline in the Philadelphia Navy Yard Corporate Center.
Represented Liberty Property Trust in the development, leasing and debt/equity financing of the $500 million Comcast Center office tower in Philadelphia.
Closed a $180 million construction loan with a syndicate led by Bank of America for our client, Atlantic Realty Development Co., for the development of a high-rise luxury rental project on Avenue of the Americas (a/k/a Sixth Ave.), two blocks south of Herald Square. At the time, this was one of the few projects in New York City fortunate enough to obtain construction financing, a tribute to the well-established track record and financial commitment of Atlantic Realty, a family-owned developer based in New Jersey embarking on its second ground-up development in Manhattan.
Assisted national, publicly traded REIT in development and leasing of retail center appurtenant to 1.3 million sq. ft. office complex. Handled all aspects of the transaction, including condominiumization of the retail and public components of the development, negotiating and documenting complex easement, and cost sharing agreements among the various parties to the development and negotiating leases with all retail tenants.
Represented GE Asset Management in the sale of individual buildings and development properties in Raleigh, N.C.
Represented a borrower in a $230 million commercial mortgage-backed securities loan secured by a regional shopping mall.
Served as lead counsel for redevelopment of a Center City office building and bank facility into the $100 million, 330-room Philadelphia Ritz-Carlton Hotel. Principal responsibilities included structuring, negotiating and documenting equity participation, tax credit investment, hotel management, project construction and permanent debt financing.
Assisted a national health and fitness center operator in negotiating leases for space in many shopping centers nationwide as part of a national expansion program. The premises leased included in-line space, anchor stores and stand alone buildings on outparcels. Our services typically also included the review of title and other due diligence materials, as well as the review and negotiation of complicated declarations of reciprocal easements, covenants and restrictions. With regard to New York City locations, our land-use attorneys represented the client in obtaining the necessary special permits or zoning variances.
Represented the developer of the Wells Fargo Center (formerly the Wachovia Center) in Philadelphia, home arena of the Sixers and the Flyers, in a multi-hundred-million project finance of the development of the facility.
Represented a major international bank in connection with the increase and modification of a construction loan. The aggregate loan proceeds, in excess of $80 million, were funded for the renovation of an existing midtown (New York City) south residential building and its conversion to operation as a hotel.
Represented a major international bank and a German bank as lead lenders in connection with a syndicated acquisition and development loan in excess of $400 million.
Represented a major international bank as a lead lender for a syndicate of lenders in connection with a construction loan of approximately $168 million to be advanced for the renovation, repositioning and reconstruction of an existing retail center located in Hampton, Va.
Represented a major international bank, as agent for a syndicate of lenders, in connection with the conversion of a construction loan in the approximate principal amount of $150 million into a loan secured by the unsold shares in a newly-constructed leasehold cooperative apartment building in New York City.
Represented a major international bank and a syndicate of lenders in a loan of approximately $318 million for the construction of a resort hotel and spa outside of San Antonio.
Represented a major international bank as a lead lender for a syndicate of lenders in connection with a $103 million construction loan to be advanced in connection with the construction of an 11-story office building of approximately 321,000 sq. ft., located in Washington, D.C.
Sourced, structured and closed $85 million debt financing and $132 million recapitalization with $45 million equity infusion for six asset, 1650-unit multifamily apartment portfolio. Responsible for the identification and selection of debt and equity providers and all aspects of the transactions from term sheets through closing.
Represented Duane Reade in all of its New York and New Jersey real estate matters.
Assisted our client, GE Asset Management, in the sale of equity interests in an entity that owned Wellington Apartment Complex located in Arlington, Va.
Represented GE Asset Management, in the sale of Riverwood 100 office building located in Cobb County, Ga., which sold for $80 million.
Represented the borrower in the construction loan financing for the development of retail shopping center known as Oxford Commons, located in Oxford, Pa.
Represented the seller in the sale of equity interests in Benjamin Franklin Apartment Building in Philadelphia, Pa.
Represented GE Asset Management, in the sale of equity interests in the entity that owned office buildings known as Metro Place located in Fairfax County, Va.
Represented landlord in the lease of a shopping center development parcel to Wawa Inc.
Structured and closed $50 million and $75 million joint venture equity programs for investment in multifamily properties with New York investment bank and government sponsored agency and national insurance company; established an additional $80 million of joint venture equity relationships with opportunity funds and fund managers for investment in multifamily properties.
Sourced, evaluated and structured off market acquisition of $50 million, four asset, 550-unit, multifamily portfolio. Responsible for identification of assets, presentation to and approval by joint venture equity partner, assumption of asset based debt financing, and all aspects of due diligence and closing of the transaction.
Evaluated and structured acquisition and financing of $400 million, 15 asset, 6,100 unit multifamily apartment portfolio. Responsible for identification of assets and financial partners, structuring acquisition offer and joint venture equity and debt financing, negotiation and legal documentation of acquisition and equity and debt transactions, underwriting of assets, and management of due diligence and closing processes.
Structured and negotiated acquisition and equity and debt financing of a $20 million, 1,800,000 sq. ft., industrial and office facility in Tinicum Township, Pa. Responsible for evaluation and underwriting of transaction, due diligence and closing processes, negotiation and documentation of acquisition, joint venture equity, and debt financing transactions and management arrangements.
Served as the lead counsel for developer of the 300-room Lancaster Marriott Convention Center Hotel and 90,000 sq. ft. Lancaster County Convention Center in Pennsylvania. Principal responsibilities included negotiation of joint development and operating documents with the Lancaster County Convention Center Authority, and advising on multiple equity and debt financing arrangements, including historic tax credit and public financing segments.
Served as lead counsel for redevelopment of the Reading Terminal HeadHouse in Philadelphia, an $80 million, tax credit assisted urban redevelopment project for the Philadelphia Redevelopment Authority. Principal responsibilities included structuring and negotiating the redevelopment and equity and debt financing program for the project, including public area, retail and hotel components, condominium structure, construction and permanent financings, and historic tax credit investment.
Served as lead counsel for development of the $75 million, 500-room Sheraton Atlantic City Convention Center Hotel. Principal responsibilities included the structuring, negotiation, and completion of the joint venture equity and debt financing among the project participants, including a private investor, Caesars Atlantic City, a national banking institution, New Jersey Casino Reinvestment Development Authority, Doubletree Hotels Corporation and Sheraton Hotels Corporation.
Served as lead counsel for acquisition of portfolios of multifamily residential apartments in the Mid-Atlantic and Southeastern United States, aggregating $500 million. Principal responsibilities included structuring, negotiation, documentation and closing of the acquisition, joint venture equity, bridge loan and permanent financing transactions.
Served as counsel to investors in urban and suburban office properties valued at over $400 million. Principal responsibilities included structuring, negotiation, documentation and closing of property acquisitions and equity, interim and permanent debt financing, and negotiation of major leases.
Served as counsel to developer of neighborhood and power shopping centers in suburban Philadelphia and Southern New Jersey valued at more than $250 million. Principal responsibilities included negotiation, documentation and closing of land acquisition, construction financing, and leasing and related transactions with tenants and owner occupants.
Represented a financial institution/investor in the restructuring of many real estate joint ventures involving dozens of properties nationally and approximately $500 million of assets.
Led a team of real estate lawyers who represented the Commonwealth of Pennsylvania in closing the transactions for the development of a new $140 million Family Court Building at 15th and Arch Streets in Philadelphia. This was a multi-faceted transaction involving many state and local government agencies.
Represented Upper Uwchlan Township, Pa., in the Route 100 bypass road project about two miles from the Route 100 exit of the Pennsylvania Turnpike. This project also included the acquisition of rights-of-way via negotiated agreements and/or condemnations.
Represented Towamencin Township in the Forty Foot Road and Sumneytown Pike Road improvement projects. The projects included the acquisition of rights-of-way via negotiated agreements and/or condemnations.
Led the effort to overcome title issues through grants from the New York State Office of Governmental Services and Westchester County and to negotiate and close pre-development financing and mezzanine debt with a Japanese financial partner for the Davids Island Project (the multifaceted development of an island in the Long Island Sound off the coast of New Rochelle), which is owned by the City of New Rochelle. Participated, through and with the developer’s local representative, in seeking a bridge permit from the Coast Guard, seeking to acquire Con Edison’s fee title in exchange for an easement (or to take the fee title through eminent domain, in consultation with special condemnation counsel to the project).
Handled the Queens West Waterfront Development Project, a joint project of the state, city, and the port authority of New York and New Jersey, which is being developed on a 74-acre waterfront site directly across the East River from the United Nations, at Hunters Point, Queens. It is a mixed-use project to include residential and commercial uses, and comprises 14 development parcels to be leased to private developers, totaling 9.3 million sq. ft., and 19+ acres of parkland.
Represented Oliver Tyrone Pulver Corp. in Conshohocken, Pa., and West Conshohocken, Pa., in riverfront development since 1987. The project included Pennsylvania redevelopment and condemnations, about 1.5 million sq. ft. of office space and two Marriott Hotels.
Handled the redevelopment of the former 500,00 sq. ft. Radio Corporation of America "Nipper Building" in Camden, NJ into 300-unit luxury apartment complex.
Handled the redevelopment of the former 67-acre Stop & Shop North Haven, Conn., facility.
Represented a client in connection with the acquisition of six multifamily apartment complexes in the southeast and the structuring of a joint venture arrangement between the firm’s client and the seller of the properties.
Represented the developer of a 500,000 sq. ft. office/hotel project in suburban Philadelphia in connection with the receipt of all land-use and development approvals.
Handled the acquisition of the former IBM plant in East Fishkill, NY, which included more than one-million sq. ft. of space with plans to build 600,000 sq. ft. and an investment of $300 million to $400 million in the project for our client, Assisted Preferred Real Estate Investments, Inc. (who took title under the entity name of PREI Hopewell Junction Associates, L.P.).
Remediated and redeveloped the contaminated 10-acre Campbell’s Soup riverfront manufacturing site in Camden, NJ, into a state-of-the-art minor league baseball stadium.
Handled the redevelopment of the former 391-acre Ingersoll-Rand Phillipsburg, NJ, facility into a multi-tenant industrial park.
Represented a regional drugstore chain in all of its real estate-related matters, which representation has included the acquisition of a 30-store chain.
Redeveloped the former American Standard facility in Hamilton, NJ, into commercial and residential mixed use.
Converted Ford Electronics/North Penn No. 7 Site, a 35-acre former industrial site in Lansdale, Pa., into a mixed-use transit-oriented redevelopment.
Developed a cleanup agreement with Pennsylvania Department of Environmental Protection and proposed development for Pennsylvania Turnpike Commission Service Plazas - a 21-site project.
Converted Taylor Landfill, a 10-acre former landfill in Wheatland, Pa., into municipal parkland.
Converted PECO Generating Station, a 90-acre Chester, Pa., site, into adaptive commercial re-use of Delaware River site.
Remediated and converted a closed municipal landfill, the eight-acre Glassboro, NJ, Landfill, which is proposed for redevelopment into an age-restricted residential development.
Obtained a significant land development approval for a 14-building, seven-phase project in Lower Gwynedd Township, Pa., for our client, Ortho-McNeil, a subsidiary of Johnson & Johnson.
Handled the redevelopment of the former 261-acre Texas Instruments Attleboro, Mass., facility into a mixed-use commercial office park.
Represented HSBC Bank in a construction loan closing. The transaction consisted of an $80 million multi-lender construction loan for a $153 million, 320,000 sq. ft. mixed use project in Queens, NY, which included a senior loan, building loan and project loan. The three-loan structure is a creature of the unique requirements of New York’s statutory treatment of mechanic lien priority. The site itself is a complicated combination of a Hyatt Hotel, residential apartments that share certain hotel amenities, first-floor retail space, office space, community facility space and a multi-level garage.
Represented a joint venture owning a super regional shopping center in one of the largest commercial mortgage-backed securities (CMBS) loans closed in 2010.
Represented a nationally known private equity fund in the overhaul of a distressed portfolio of national real estate assets involving the restructuring of several hundred million dollars of senior debt and recourse guaranties, and extensive modification of the internal equity structure of scores ownership entities.
Represented a private equity fund in acquiring a loan secured by a failed residential high-rise condominium development in the Southeast United States.
Represented a private equity fund in acquiring a distressed loan secured by a major office building in the southeast United States and a contemporaneous deed in lieu transaction.
Represented the buyer of a loan secured by a failed residential condominium development in the Philadelphia area.
Represented a lender making a loan in connection with a major mixed use development in the Cleveland area.
Represented the developer of a New York residential condominium development in connection with a work/out restructuring of three loans.
Represented private equity client in connection with a $15 million loan secured by: (I) multiple real estate parcels, (II) pledge of membership interests, (III) pledge of cash collateral account held by third party and (IV) a personal guaranty. Proceeds of this loan were utilized, together with proceeds of other private/institutional lenders and bond offerings to develop a multi-use project in Cleveland.
Represented a large Connecticut-based developer in the sale of federal historic tax credits and the related construction loan refinancing to convert an abandoned warehouse into a 235 unit, residential apartment building. We also handled the later $30 million refinancing of the project with Freddie Mac as part of its capital markets execution program for large multifamily loans.
Represented a family and their real estate entity in two transitions in which they disposed of approximately $700 million of commercial real property to two separate REITs.
Represented a major regional shopping center developer and owner in two unsuccessful transactions involving the disposition of their real estate portfolio to a company and later to a REIT. We have continued to represent them in connection with two new REIT acquisition proposals. The value of their portfolio is in excess of $150 million.
Represented a large trust in connection with the disposition of properties to a variety of UPREITs in exchange for units.
Advised a client regarding their closely-held REIT and certain real estate acquisitions that cannot be made through the Fund because of concerns about the tax on the unrelated business taxable income of otherwise tax-exempt entities.
Represented a client in connection with its acquisition a private REIT which owns shopping malls. This was largely a cashless transaction. The REIT is in the process of being liquidated.
Represented a client in connection with the acquisition and liquidation of a private REIT that owned a Texas shopping center.
Represented the owners of about ten office/light industrial properties in the contribution of those properties to a partnership in exchange for REIT units.
Represented a REIT in connection with certain real estate matters and, in connection with those matters, were involved in the application of the REIT rules to the transactions.
Represented a client that disposed of a number of office properties in contribution transactions to a REIT based in Memphis, Tenn.
Represented a client that had a privately held REIT as its equity partner in connection with its relations with that entity, the operation of its business to conform to the REIT requirements in its LP Agreement, and the redemption of that entity.
Represented the Miller family entity in connection settling claims against the Simon REIT and entering into a joint venture with a subsidiary of Simon to own a shopping center.
Represented Acorn Properties in the sale of office properties to Equity Office Properties Trust.
Represented seller of property to a REIT in a "UPREIT" transaction –where the seller took back OP Units in the REIT.
Represented the Special Committee (independent directors) of the Board of Directors of a few REITS when they negotiated related party transactions; e.g., internalizing management by terminating the management contract with the external company controlled by REIT management (interested directors).
Assisted a Virginia-based developer in the development of a grocery anchored shopping center in Virginia. Negotiated grocery store lease as well as leases for in-line tenants and outparcels for national restaurant and drug store chain, together with office and residential users. Handled the satisfaction of various title, survey, easement and site plan complexities.
Assisted a Florida-based developer in the development of retail outparcel in a large regional big box retail shopping center. Negotiated the amendment of a master declaration affecting the property to permit the use and variances necessary to construct and reconfigure signage, access, utilities and other easements necessary to develop the site. Assisted in all matters of title, acquisition, construction and permanent financing, and the entitlement process.
Assisted a Pennsylvania-based developer in the development and leasing in Pennsylvania and New Jersey of multiple big box shopping centers anchored by national retailers such as Wal-Mart, Lowe’s and Home Depot. Representation included the acquisition and financing of the centers, the negotiation of anchor and in-line leases, and the negotiation of agreements vesting easements, covenants and restrictions.
Assisted a large, regional retail bank in its aggressive program to open multiple new branches throughout the New York City metropolitan area. Sites ranged from first floor retail spaces in Manhattan high-rises to pads in outer-borough shopping centers to free standing buildings in Staten Island and New Jersey.
Assisted an internationally known, European mono-brand retailer in its U.S. leasing program in both the highest end retail centers for current merchandise and off-price centers for after-season merchandise liquidation. Centers include the Forum Shops in Las Vegas, Royal Hawaiian Shopping Center, Tyson’s Galleria in Virginia and Woodbury Common in New York.
Assisted in a general, large scale development plan involving rezoning, special permits and siting of a public school in connection with plans to construct a 170 sq. ft. mixed-residential, commercial and community facility building and public parking garage.
Handled an application before the Board of Standards & Appeals to permit the construction of a 220 sq. ft. residential building over extensive community opposition and controversy over the underlying zoning calculations for the design.
Handled the authorization of the conversion of a former manufacturing building in a historic district by the Landmarks Preservation Commission and City Planning Commission into 91 units of housing.
Obtained special permits and Waterfront Certification to permit construction of a 300 sq. ft. mixed building complex including 140 units of affordable housing and a new public park.
Handled a general large scale development plan amendment to facilitate the acquisition of vacant land and development rights from the New York City Housing Authority for the development of three phases of affordable housing.
Handled the foreclosure of a major, urban, residential, high-rise condominium project in which out-sales had already taken place, assisting the lender in matters related to the condominium association and in preparing a new public offering statement for outsales.
Defended a foreclosure and negotiated and structured a workout related to a 400 unit residential phased development.
Handled a foreclosure on an iconic urban office building and negotiating and documenting an assignment of sheriff's sale bid.
Represented a borrower in structuring a deed in lieu transaction (in the context of a confirmed bankruptcy plan) to facilitate a §1031 deferred exchange.
Negotiated and documented a workout in which the borrower provided additional collateral consisting of a 50 percent interest in a shopping mall and then acquiring such interest in a subsequent workout.
Represented a major financial institution in restructuring numerous real estate joint ventures involving in excess of $400 million in the aggregate.
Represented an institutional investor in the restructuring of significant portions of a multibillion dollar real estate portfolio.
Won a motion for summary judgment in the United States District Court for the Eastern District of New York on behalf of our client, the Republic of Senegal. The plaintiff was a broker, who claimed a commission for the $24.5 million purchase of the site of the future embassy and mission on East 44th Street near the United Nations.
Represented New Millennium Estates Ltd., in the sale of 10 East 53rd Street in New York City for Italian Pension Fund.
Represented Government of the Republic of Senegal, in the acquisition of the site for the Senegal Mission to UN and Consulate.
Represented FNMA DUS lender in connection with the origination of commercial mortgage loans secured by multifamily properties throughout the country.
Represented a real estate investment trust in connection with the acquisition of whole loans, participations, A/B notes, and mezzanine interests and has experience in negotiating both intercreditor and participation agreements.
Represented an institutional investor in connection with $213 million sale leaseback transaction involving 65 restaurant properties in 20 states. The representation included lease negotiations, acquisition diligence and the ultimate disposition of the properties.
Represented the structuring advisor in connection with two consecutive sale leaseback transactions involving more than 100 retail auto parts stores located across the country.
Represented a private equity fund in the restructuring of approximately $400 million of distressed debt and equity capital in numerous joint ventures nationally.
Represented a large Philadelphia-based developer in the restructuring of a joint venture agreement for an existing multifamily apartment project located in Baltimore, which included the contribution of $9 million of additional equity by a new preferred equity investor.
Represented a large private equity fund in obtaining permanent financing for a North Carolina-based joint venture in order to refinance approximately $30 million of preferred equity.
Served as primary real estate counsel to DCO-Energenics in connection with the ground leasing of sites for the installation of co-generation facilities and energy plants serving casino resorts, college campuses and urban areas in the Northeast.
Represented the Pennsylvania Turnpike Commission in connection with the drafting, negotiation and execution of a Lease and Funding Agreement with the Pennsylvania Department of Transportation (PennDOT), under which the Turnpike Commission leased Interstate Route I-80 from PennDOT – a unique and innovative public-public partnership that will provide $83 billion in funding for road and bridge improvements, as well as mass transit, over the next 50 years.
Served as primary outside counsel for the Port Imperial Ferry, both in negotiating a ferry service agreement with the Port Authority of New York and New Jersey to relieve crowding on the Hoboken PATH line (including licenses for landing facilities in both Battery Park City and Hoboken), and in drafting and negotiating various licenses and leases relating to landing facilities and terminals on both the New York and New Jersey shores of the Hudson River.
Represented the owner of a portfolio of multifamily properties in connection with the sale of 15 apartment complexes located primarily in Pennsylvania, and elsewhere on the East Coast, for a purchase price of approximately $150 million.
Prosecuted Board of Standards and Appeals variance applications that enabled the conversion and enlargement of three manufacturing buildings in Brooklyn's Fulton Ferry Historic District and the conversion of a 70,000 sq. ft. warehouse to residential use.
Secured Landmarks Preservation Commission approval for the demolition of a non-contributing, low-rise structure and replacement with a 19-story, glass, contemporary landmark building in Manhattan's Madison Square North Historic District.
Drafted Uniform Land Use Review application, transactional documents and other supporting material to facilitate the transfer of air rights from city-owned parcel to development site in downtown Brooklyn.
Prepared chair certification and special permit applications to the City Planning Commission for approval of the landscape plan and special permit waiver of the maximum height limit for a development on a full square block along the Greenpoint waterfront.
Guided development team through special permitting process for the demolition and replacement of landmarked parking garage with state-of-the-art facility.
Worked with code consultant and architect to secure agency approvals from the Department of Buildings and Fire Department for a three-acre site with private roads on the Staten Island waterfront. Prepared chair certification and authorization applications to the City Planning Commission for approval of the landscape plan. Coordinated zoning compliance for project team and facilitated transfer of property from the City of New York to developer client.
Represented SL Green Realty Corp., a publicly traded REIT and the largest commercial landlord in New York City, in the acquisition of a 9,650 sq. ft. retail cooperative apartment at 747 Madison Avenue in Manhattan for a purchase price of $66 million.
Represented a real estate investment management firm in its investment in and financing of the majority interest in a $2.5 billion joint venture formed to develop or redevelop a portfolio of 93 assets on 42 development sites located throughout the greater Washington, D.C., metro area as office, retail, hotel and multifamily residential.
Handled the acquisition of 84 unsold an unoccupied residential condominium units at the new development known as Williamsburg Terrace in Brooklyn. Represented the company in connection with the acquisition of real estate, the financing and the joint venture work with the operating partner/managing agent for the project. Coordinated the work of special counsel representing the client in connection with the condominium offering plan for the development and the Section 421 - a real estate tax abatement for the unites.
Represented the energy provider in connection with the decommissioning and removal of the existing Montclair University campus energy plant and the construction of a new state of the art cogeneration plant providing heating, air conditioning and electricity to much of the large campus of the university spanning three counties in New Jersey. Handled the basic energy sales agreement, the ground lease for the new on campus plant site, the easements throughout the campus for the distribution systems (including over portions of the campus owned by New Jersey Educations Finance Agency and by Public Service Electricity and Gas) and the financing of the project through a public bond issue.
Represented Triangle Equities in connection with the leasing, development, and ultimate acquisition of a site in the vicinity of the Staten Island Ferry Terminal in three phases through the use of a Master Lease (serving as the land disposition agreement), and ultimately three Severance Development Leases (serving as the development vehicles). Responsible for the negotiation and closing of the master lease, the development leases, a parking and maintenance declaration, a public area maintenance, and operating agreement and related documentation, as well as the overall coordination of the project.
Closed the $253 million sale of a Manhattan office building. The 389,000 sq. ft. building, known as the HarperCollins Building, 10 East 53rd Street, was sold by an Italian pension fund to SL Green, the REIT that is the largest owner of New York office buildings.
The Pennsylvania Hospital Tower at 8th & Walnut Streets, a complex matter involving city ordinances and hearings before the City Council.
1706 Rittenhouse, a luxury residential tower voted one of the best 20 projects in North and South America by Urban Land Institute for 2011.
Numerous projects at The Navy Yard, including projects containing complex zoning issues as Philadelphia's regulations did not contemplate issues unique to the former Philadelphia Naval Shipyard. Cozen O’Connor represented the developer/landlord in the development and leasing of the new regional headquarters for GlaxoSmithKline in the Philadelphia Navy Yard Corporate Center.
Represented the SugarHouse Casino, on Delaware Avenue in Philadelphia, in negotiating its development agreement with the city and supervised obtaining multiple land use permits and handling ongoing operational expansion issues.
Represented the Convention Center Authority in the negotiation of a development agreement for the Pennsylvania Convention Center, a multi-use public facility occupying four city blocks between 11th & 13th Streets and Arch & Race Streets, in Philadelphia, and assisted with legal matters in connection with expansion.
Represented Patriot Equities, L.P. and their joint venture partner in a $135 million portfolio acquisition. The portfolio consisted of 15 office buildings, one of which was subject to a ground lease, in Colorado Springs, Colo.
Represented a private equity fund in the $44.25 million acquisition of the 100/200 Four Falls office building in Conshohocken, Pa. The seller was an affiliate of LNR Partners and financing was provided by Starwood Mortgage Trust. This acquisition was notable as it closed out the fund as the fund’s sixth and final investment. Cozen O'Connor represented the fund in all six investments.
Closed a joint venture transaction on behalf of the General Electric Pension Trust for the development of a residential complex in Pompano Beach, Fla.
Closed a restructuring of the leases on the Potamkins’ main New York dealership, a Cadillac/GM facility located in New York, NY The transaction, which took over a year to negotiate, centered around major renovations to be done to the Potamkins’ dealership facilities with a major cost subsidy from General Motors.
Represented a Philadelphia-based financial institution as indenture trustee and its affiliate Rio Verde, Inc. as purchaser of the bonds in the closing of an $18 million tax exempt construction-permanent loan as part of a low income housing tax credit financing for the renovation of Federation Housing’s Samuel Tabas Apartments in Philadelphia.
Represented Equus Capital Partners in the sale of partnership interests in the entity owning a Walnut Street retail and office building to Teachers Insurance and Annuity Association.
Represented Arden Real Estate Partners I, L.P., in a multi-faceted transaction, including the sale of the first tranche of hotel units in an Orlando, Fla., hotel to Bluegreen Vacations, a time share sponsor. In addition, represented the client in the acquisition of its partners’ partnership interests in the entity owning the hotel and the restructure of the debt secured by the hotel.
Represented Hallets Point, a $1 billion, 2,500 residential unit complex on the waterfront in approval for construction from the New York City Council.
Represented the client in closing transactions in which affiliated entities of our client, Lowe Investments, purchased from PREIT a fee interest in the residential unit of a mixed used condominium, which included nine multi-unit apartment buildings and in which the Lowe affiliates were the ground lessee. The existing BOA loan on that property, as well as a loan from a Lowe affiliate on an adjacent property, were refinanced with a loan from Capital One secured by a mortgage on the fee estate of the residential condominium and a mortgage on the adjacent property owned by another affiliate of Lowe in which improvements were under construction.
Represented a public company in connection to the privatization of family housing at military installations through the United States. Representation included negotiations with the U.S. Army, U.S. Navy, U.S. Air Force, third-party construction, architectural and engineering firms, and private capital sources.
Represented a student housing company in connection with the acquisition, financing, development and construction of 600+ bed, Class “A” purpose built off-campus student housing project in Maryland.
Represented a private equity firm in connection with acquisition, financing, development, and construction of resort-style Class “A” substance abuse and eating disorder residential facility in Palm Beach County, Fla. Representation included negotiations with local government entities in connection with obtaining a zoning text amendment and approvals.
Represented a multi-family housing developer in connection with the acquisition, financing, development and construction of a 375+ unit, Class “A” multifamily housing development in Canonsburg, Pa.
Represented FMC Corporation in the lease negotiations for their new headquarters in the FMC Tower being developed by Brandywine Realty Trust.
Represented a private investment fund in their joint venture with Alterra Development for the acquisition of 1515 Chestnut Street in Philadelphia.
Represented a non-profit before the Philadelphia Zoning Board of Adjustment and obtained variances to permit the use of a commercial kitchen in the non-profit's residential building.
Served as lead real estate counsel to Liberty Property Trust in the development of the new Comcast Innovation and Technology Center, including negotiating one of the largest single-tenant office leases in the history of Philadelphia.
Represented Liberty Property Trust in the development of the original Comcast Center, including acquiring and assembling land parcels, developing the project’s condominium structure, and negotiating complex easement and rights agreements with SEPTA and surrounding land owners.
Handled a variety of build-to-suit development and leasing projects at the Philadelphia Navy Yard, including Tastykake’s state of the art baking facility, Iroko Pharmaceuticals' corporate headquarters and Franklin Square Capital’s corporate headquarters.
Represented Liberty Property Trust in its $900 million acquisition of Republic Property Trust and its corresponding portfolio of office assets in and around Washington, D.C.
Represented various clients in numerous financing and refinancing transactions for properties located throughout the country.
Represented institutional investor in negotiation of joint ventures and related documents for multifamily acquisitions and developments in numerous locations with various local partners, including in Atlanta, the Greater Philadelphia metropolitan area and Charlotte, N.C.
Represented minority investor in initial investment with national management company in the Convention Center hotel, expansion of interest and eventual sale of interest.
Represented minority investor in joint venture agreements with major REIT for development of mixed-use projects in the Philadelphia Navy Yard.
Represented Saint-Gobain Corporation in negotiating construction contracts for build-out of its new North American headquarters campus in Frazer, Pa.
Negotiated with national contractors such as Balfour Beatty and Turner Construction Company, as well as local and regional contractors such as Gilbane Building Company, Norwood, Driscoll Construction Co., Shoemaker Construction Co., Merion Construction Management LLC, MJ Settelen, and Penntex Construction Company.
Represented Hershey Company in negotiation of construction contract for a 600,000 sq. ft. manufacturing facility.
Represented health care provider in joint venture with contractor in developing proposal in response to RFP for behavior rehabilitation facility.
Negotiated numerous architecture and construction contracts for both ground-up construction and substantial rehabilitation for owners or for major tenants. Construction types include design/build, cost plus with a guaranteed maximum price and fixed price or stipulated sum.
Represented a financial institution in the purchase of an office building in lower Manhattan, NY.
Represented private equity fund in connection with a $250 million loan secured by domestic and international telecommunication and infrastructure assets.
Represented real estate private equity fund in acquisition of two portfolios of warehouse assets located in Pennsylvania and Maryland.
Represented The Arden Group in its acquisition and debt financing for The Atrium in Los Colinas, Texas.
Represented Winthrop Realty Trust in its debt restructuring and equity for 1515 Market Street in Philadelphia.
Represented CenterSquare Investment Management in its acquisition, financing and joint venture for 770L in Sacramento, Calif.
Represented Amadeus Property Partners in its acquisition of Almarida Place shopping center in Campbell, Calif.
Represented a real estate investment firm in the $136 million acquisition of a New Jersey corporate center encompassing several four-story buildings, totaling approximately 820,000 sq. ft., on a 176-acre site. The deal included a $123 million term loan from a syndicate of lenders.
Represented a regional shopping center developer in the acquisition and anchor tenant leasing of a substantial parcel of property to be developed into a shopping center in Egg Harbor, N.J.
Represented the seller in connection with the $114 million sale of a large office building in downtown Philadelphia.
Represented the seller in connection with the $101 million sale of a 15-story office building in Jersey City, N.J.
Represented The Hershey Company in negotiating a lease for its new flagship "Hershey's Chocolate World" store in Times Square, New York City. The new store will be triple the size of Hershey's existing store and located on the ground floor in the 20 Times Square building to be constructed at West 47th Street and Seventh Avenue, Manhattan. The deal includes blade signage and the right to use a significant portion of the state-of-the-art digital billboard display.
Represented a majority partner in a multi-state Section 1031 tax-deferred exchange of real property. The "build to suit" reverse 1031 exchange required Fannie Mae approval for a "drop and swap" of the relinquished property and the exchange into a multi-family portfolio of partially completed buildings, and buildings to be constructed, as the replacement property.
Represented a joint venture between Merion Realty Partners, a real estate investment and management firm headquartered in Pennsylvania, and a billion dollar institutional investment fund in connection with a series of transactions involving the sale of multifamily apartment communities.
Represented the seller in connection with the sale of One Thomas Circle, a commercial office building in Washington, D.C., to a Germany-based fund for approximately $115 million.
Represented Rubenstein Properties Fund III, L.P. in connection with its acquisition of eight office buildings in the Indianapolis, Ind., area for a total purchase price of $162.9 million. In addition to negotiating the purchase agreement, we obtained acquisition financing with future advances for the potential development of an amenities site on the property and negotiated and finalized a joint venture with Strategic Capital Partners.
Represented a subsidiary of the General Electric Pension Trust in connection with obtaining a $75 million mortgage loan secured by the entity's interest in a fully leased, 390,000 sq. ft., Class A office building in Atlanta.
Represented Rubenstein Partners, L.P., in connection with its acquisition of a 1.6 million sq. ft. office park complex in Atlanta for $265 million. The Class A property, Sanctuary Park, includes nine mid-rise buildings on 152 acres. In addition to handling the acquisition loan, the firm also negotiated and finalized a related joint venture agreement.
Represented a real estate investment trust in a $115 million acquisition and leasing of an industrial property portfolio in Washington, D.C., involving more than 20 tenants, including the General Services Administration and the District of Columbia.
Represented the landlord in connection with leasing for an industrial/retail/office park in Northern Virgina.
Represented the seller of a portfolio of five properties, located in two states, including an office building, two office parks, and two multifamily properties, with a total value in excess of $75 million.
Represented a privately held real estate investment company in connection with its $45 million acquisition and financing of five office park properties in Virginia.