REITs

REITs

Overview

Cox, Castle & Nicholson represents numerous REITs in a diverse range of real estate transactional matters, including acquisitions, dispositions, financing, leasing, joint ventures, and developments throughout the United States. Our REIT clients focus on a multitude of real estate sectors, including healthcare, hospitality, multi-family, office, and retail. Our attorneys assist our REIT clients in complex litigation, land use, tax, risk management, insurance, and construction matters. As a premier real estate law firm with sophisticated knowledge and expertise in every type of real estate project and development, we have the ability to address all of the real estate needs of our REIT clients.

Real Estate Acquisitions And Dispositions

We represent REITs in the acquisition and disposition of a wide variety of real estate assets throughout the United States. The frequency with which we deal with complex real estate transactions affords us a distinct advantage in effectively and efficiently addressing our clients' concerns and objectives. We take great pride in understanding our clients' goals and objectives, and proactively work with our clients to achieve such goals and objectives effectively and creatively.

Our attorneys place great emphasis on the long-term implications of each transaction. Accordingly, we work closely with each client to implement a customized and comprehensive due diligence and risk management program aimed at identifying and addressing potential problems. When appropriate, we also draw from the expertise of our attorneys who focus on specialized fields such as tax, environmental law, insurance, and regulatory compliance.

Financing

We routinely assist our REIT clients in obtaining all types of financing, both from traditional balance sheet lenders as well as from agency lenders such as Fannie Mae, Freddie Mac and HUD. Our expertise includes the negotiation and documentation of acquisition loans, permanent and bridge loans, construction loans, ground lease financing, mezzanine financing, and financing to joint ventures. Always mindful of our clients' sensitivities (such as the allocation of loan recourse among joint venture partners or the impact that state licensure suspensions or downgrades could have on a credit facility), we are careful to guide our clients to resolutions that meet their particular needs. Once financing is in place, we also assist our clients in managing their lender relationships and responding to the needs of lenders, loan servicers, and joint venture partners.

Entitlement And Development

We represent REITs in the entitlement and development of a wide variety of real estate assets. Our attorneys have in-depth experience and knowledge in all facets of land use approvals including general and specific plans, zoning, conditional use permits, variances, and related matters. In addition, we have expertise in all stages of the construction and development process including negotiating construction contracts and implementing customized insurance programs. This expertise, coupled with our firm’s overall acumen in real estate matters and our in-depth understanding of the particular goals and objectives of each REIT client, provides us with the ability to provide each client with comprehensive and integrated services at every stage of the entitlement and development process.

Leasing And Property Management

We have extensive experience representing REITs as both landlords and tenants in leasing all types of real assets products, including retail, office, industrial, and healthcare. In addition, we have significant expertise and experience in master lease and ground lease transactions as well as build-to-suit, single tenant projects from both a landlord and tenant perspective.

Additional Expertise

The depth and breadth of our firm's real estate capabilities enable us to draw on the special expertise of other firm attorneys in areas such as litigation, environmental matters, insurance coverage, and construction law to deliver comprehensive legal services to all of our clients. In particular, our REIT clients benefit from such expertise as we regularly consult with many of these experts during the course of structuring our transactions.  Some areas of expertise which are often particularly beneficial to our REIT clients include: 

  • Joint Ventures. We have attorneys who are well versed in joint venture transactions. We offer particular expertise in planning, negotiating, documenting, forming, and implementing all types of joint ventures, including limited liability companies and partnerships, as well as providing guidance during partner disputes and litigation. In addition to equity investment through customary joint venture mechanisms, we structure a wide array of funding vehicles including master lease arrangements, mezzanine financing, and management contracts containing equity components.
  • Insurance and Risk Management. Insurance and risk management assessment including the review and critique of property, liability and D&O insurance policies and acquisition, construction, operation, and disposition documentation.
  • Construction. Our transactional attorneys negotiate and prepare construction contracts, architect agreements, engineering and design agreements, professional services agreements, purchase orders, payment and performance bonds, mechanics' liens, stop notices, notices of completion, consulting agreements, and construction management agreements in connection with the development of virtually every form of commercial and residential real estate asset.

Representative
Matters

<h3> Acquisition Transactions (And Related Financing)</h3>

Represented a REIT in the acquisition of a $610 million office building portfolio in Southern California.

Represented a healthcare REIT in the acquisition of a $196 million portfolio of nine medical office buildings in New York, Florida, and Massachusetts. The transaction also included seven separate loan assumptions totaling more than $100 million.

Represented a healthcare REIT in the acquisition of a majority interest in a partnership that owns a medical office building located in Houston. The transaction was structured so that the seller group (consisting of more than 20 physicians) was provided the right to remain in the partnership that owns the building, receive limited partnership units in the REIT's operating partnership ("UPREIT" structure), and/or receive cash.

Represented a REIT in connection with separate $55 million and $35 million syndicated credit facilities used to finance development and construction of two phases of a pharmaceutical research & development project in the Bay Area.

Represented a healthcare REIT in the acquisition of a $161 million portfolio of sixteen medical office buildings located in South Carolina.

Represented a REIT in the acquisition of a $111 million office building in Southern California.

<h3> Financing Transactions (Representing The Borrower)</h3>

Represented a borrower in obtaining a $200 million unsecured revolving credit facility and an amendment increasing the value of the facility to $575 million.

Represented a borrower in obtaining a $125 million term loan secured by seventeen properties in Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Missouri, New Hampshire, Ohio, Pennsylvania, and Texas.

Represented a REIT in connection with a $325 million syndicated loan secured by a 1.44 million square foot portfolio of Class A office properties located in Southern California.

Represented a REIT in connection with a $530 million syndicated loan secured by a 2 million square foot portfolio of Class A office, creative office, retail, and medical office properties located in Southern California.

Represented a REIT in the acquisition of a $55 million office building in Pennsylvania.

Attorneys &
Paralegals

Name Title City Phone  
Goodfried, Marlene D. Partner Los Angeles 310.284.2268
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Kinigstein, Kevin S. Partner Los Angeles 310.284.2191
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Kuhl, John H. Partner Los Angeles 310.284.2267
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Lari, David P. Partner Los Angeles 310.284.2292
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Li, Stephen D. Partner Los Angeles 310.284.2232
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McClanathan, Mark P. Partner Orange County 949.260.4630
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Rosenberg, David S. Partner Los Angeles 310.284.2251
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Schwartzman, David C. Partner Los Angeles 310.284.2246
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Sears, Jonathan Partner Los Angeles 310.284.2277
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Titcher, Paul J. Partner Los Angeles 310.284.2255
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Vesci, Adriana Partner Los Angeles 310.284.2243
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Weissburg, Adam B. Partner Los Angeles 310.284.2270
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Wells, Amy H. Partner Los Angeles 310.284.2233
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Spotlight

Cox, Castle & Nicholson Attorneys Ranked In Chambers USA 2013

Cox, Castle & Nicholson’s Environmental and Real Estate practices were ranked among the best in California by Chambers... More»