Kevin J. Crabtree

Partner

Overview

Purchase And Sale Transactions

As a transactional attorney, Kevin’s clients rely on his ability to efficiently structure, negotiate, document and close the purchase and sale of commercial real estate assets, including existing buildings, entitled development projects and raw land. His practice focuses on transactions involving office, industrial, retail, hotel and multifamily properties.

Joint Venture Transactions And Related Workouts

Kevin represents investment funds and other capital allocators, as well as developers, operating companies and other investment sponsors who seek his counsel with respect to their joint ventures. He is experienced in analyzing, structuring, negotiating and documenting a wide range of joint venture transactions, including those relating to the acquisition, ownership and development of all types of real estate assets. His clients also rely on him to develop and implement joint venture workouts and restructures of all types and to assist in the enforcement of remedies under joint venture agreements.

Financing Transactions And Related Workouts

Kevin’s transactional practice includes negotiating, documenting and closing complex real estate secured financing transactions in relation to both individual assets and portfolios of properties. He has successfully completed numerous loan assumption, property substitution, loan defeasance and other similar transactions for his commercial real estate clients. His clients also seek his advice structuring, negotiating and implementing loan modifications, workouts and restructures of all types.

Representative
Matters

Purchase And Sale Transactions

Represented an institutional investor in the acquisition of a 350,000 square foot, Class A office property in Santa Clara County, California.

Represented Harbert United States Real Estate Fund V, L.P. and a joint venture between it and Cypress Office Properties in the acquisition of Fountainhead Corporate Park, a five building, 476,000 square foot, Class A office campus in Phoenix, Arizona, the concurrent sale of three of those buildings to Allegis, and in obtaining the related acquisition financing.

Represented an institutional investor in the acquisition of a controlling interest in a portfolio of 3 hotels and a hotel development site in San Francisco, California, in a structured transaction involving, among other things, entity restructuring, the purchase of interests from a bankruptcy estate and the assumption of a securitized loan.

Represented Ridge Capital Investors, LLC, in the acquisition and financing of Saratoga Downs Apartments, a 124-unit apartment community, and Sheveland Ranch Townhomes, a 54-unit townhome development, in Napa, California, for a combined price of $39.5M, and the negotiation of related joint ventures with institutional investment partners.

Represented an institutional investor in the acquisition of a $50M, 100-unit apartment project in San Francisco, California.

Represented a commingled investment fund in the acquisition and financing of a portfolio of office buildings in Santa Clara County, California.

Represented an institutional investor in the sale of a $175M portfolio of hotels.

Represented a commingled investment fund in the sale of a $160M office building in Denver, Colorado.

Joint Venture Transactions

Represented Alexandria Real Estate Equities, Inc., in the negotiation of a joint venture with Uber Technologies, Inc., for the development of approximately 422,980 RSF in the Mission Bay submarket of San Francisco for Uber and the negotiation of related management agreements.

Represented Four Corners Properties in the negotiation of a joint venture with Rockwood Capital for the acquisition and redevelopment of a vacant 500,000 square foot office campus located on the border of Mountain View and Palo Alto, California, the negotiation of a related asset management agreement and the negotiation of related loan documents.

Represented an operating company in the negotiation of a joint venture with an institutional investor for the acquisition and repositioning of a $50M hotel in San Francisco, California, and the negotiation of related loan documents.

Represented a commingled investment fund in the negotiation of a joint venture with an operating company for the acquisition and ownership of a $50M portfolio of West Coast retail, industrial and residential properties, and the negotiation of related property management agreements.

Represented an operating company in the negotiation of a joint venture with a commingled investment fund for the acquisition and ownership of a $110M portfolio of apartment buildings in San Francisco, California, and the negotiation of related asset management agreements.

Represented Four Corners Properties in the negotiation of a joint venture with a preferred equity investor for the development and ownership of a 100,000 square foot office building in Mountain View, California, the negotiation of related development management, asset management and property management agreements, and the eventual sale of such asset.

Represented a commingled investment fund in the negotiation of a joint venture with an operating company and another commingled fund for the acquisition and ownership of a $122M office building in Denver, Colorado, and the negotiation of a related asset management agreement.

Represented a developer in the formation and restructuring of syndicated investment joint ventures for the development of a 76,000 square foot Class A office building in Redwood City, California.

Represented a commingled investment fund in the negotiation of a joint venture with a developer for the development of a 400,000 square foot industrial complex in Pomona, California.

Financing Transactions And Workouts

Represented a publicly traded REIT in obtaining a $120M loan secured by a portfolio of office/laboratory buildings in California, Virginia and Washington.

Represented a commingled investment fund in obtaining a $185M loan secured by a luxury hotel in Southern California.

Represented a publicly traded REIT in the assumption of a loan secured by a medical office building in Phoenix, Arizona.

Represented the borrower in the deed in lieu of foreclosure conveyance of a high-rise condominium project in Los Angeles, California, secured by a $130M loan.

Represented a commingled investment fund in the restructure of a $45M real estate secured loan involving the write down of loan principal, the investment of additional capital by the borrower and the grant of a contingent back-end interest to the lender.

Publications &
Speaking Engagements

Publications

Fiduciary Duties: The Hidden Obligations In Joint Ventures, CCN Perspectives, Winter 2010

Speaking Engagements

I Found The Deal, Now How Do I Find The Equity?, 3/23/2011

Awards &
Affiliations

Professional Affiliations

  • Board of Directors of NAIOP Corporate, 2013-2014
  • Board of Directors of the San Francisco Bay Area Chapter of NAIOP, 2010-2015
  • Board of Directors of the Belden Club, Director in charge of philanthropy, 2008-2011

 

Bar and Court Admissions

  • State Bar of California

Education

  • J.D., Pepperdine University School of Law, 1995, magna cum laude
  • A.B., Occidental College, 1991