The Sklar Kirsh Real Estate Practice Group represents a wide array of institutional, entrepreneurial, and family office clients throughout the real estate life cycle involving the acquisition, financing, capital raising, leasing and ultimately the sale of all commercial and residential asset classes. In addition to providing legal services at the highest level, we have developed meaningful relationships within the capital markets and have successfully introduced our clients to both equity and financing sources for the capitalization of their projects.
While structuring real estate transactions, our attorneys have the legal knowledge, business acumen and capital market connections to provide superior legal counsel and business advice to our clients.
- Represented Riverview Drive LLC, a newly formed joint venture between longtime client, Abady Holdings Corporation, and Commerce Home Mortgage, LLC, in the $6,600,000 acquisition of an office property in Anaheim, California. In connection with the acquisition and the formation of the joint venture, our client entered into a long-term lease with its joint venture partner. Seller was represented by Vantage Law.
- Represented Dow Owner LLC, an affiliate of Cress Capital, in its sale of a commercial office building located in Tustin, California, to the Dow Avenue, LLC, an affiliate of Padma Laxmi, LLC, for a purchase price of $20,900,000.
- Represented Mosaic Real Estate in negotiating a participation with Benefit Street Partners on Mosaic’s existing $67,250,000 loan to Aspire on Fillmore, LLC, which is secured by real property located in Phoenix, AZ. The transaction involved, among other things, splitting the original note into two notes, amending the Loan Agreement and other loan documents. Benefit Street was represented by Holland and Knight.
- Represented Shopoff Realty as the tenant in a 99-year ground lease, joint venturing with Contour, for 7+ acres along the 5 Freeway, valued at $100,000,000. The landlord is a joint venture comprised of Interstate 5 Firestone, LLC and Freeway Firestone, LLC, who were represented by Daniel Cho at Garrett Stiepel Ryder LLP.
- Represented Columbia Pacific in making a $6,800,000 loan to ADK Development Group, LLC for the financing of land and improvements associated with a two-unit, light industrial building located at 369-371 Blodgett Street, Cotati, CA 94931 (Sonoma). Loan proceeds were primarily used to refinance approximately $5.2 million in term debt held by a construction lender, to settle a federal tax lien filed against the guarantors, and to settle a settlement with a former company who had contracted to acquire one of the buildings. Borrower was represented by Clement, Fitzpatrick & Kenworthy, PC.
- Represented Tides Equities, LLC in connection with the $71,500,000 sale of the Tides at South Tempe Apartments, a 442-unit apartment complex in Tempe, Arizona. The project was acquired by Tides in August of 2018 through a joint venture with Capitol Solutions, Inc. for $55,500,000. The Buyer of the Property was FCP, a privately held national real estate investment company (although Tides is staying in the deal as a joint venture partner), which was represented by Arent Fox LLP.
- Represented Owner 301 Taylor, LLC, an affiliate of BLDG Partners, LLC, in its sale of an affordable housing multi-family residential project in Henderson, Nevada for a total purchase price $17,500,000. Seller was represented by Carle, Mackie, Power & Ross.
- Represented Letty Jane Bassler, Trustee of Trust A and Trust B of the Donald Victor Bassler and Letty Jane Bassler Trust (the Bassler family) regarding the acquisition of three parcels with existing ground leases with Chick-Fil-A, Whataburger, and Chipotle, as tenants, in the Waterview Towne Center in Richmond, Texas. The total purchase price was $9,150,601. Seller was represented by Jackson Walker LLP of Houston, Texas.
- Represented NextGen Apartments, LLC in its acquisition, through an affiliate entity of a multi-family residential property located in Redondo Beach, California, for a purchase price of $9,350,000. The acquired property was added to a previously 15-property portfolio containing more than $100,000,000 in assets owned by NextGen in a joint venture with Goldman Sachs. The transaction included both modifications to the joint venture with Goldman Sachs as well as a modification of the pre-existing financing with RBC Real Estate Capital Corp., increasing the loan amount to $77,664,336.00. Lender was represented by Gibson Dunn & Crutcher LLP. Goldman Sachs was represented by Fried, Frank, Harris, Shriver & Jacobson LLP. NextGen was also assisted by Allen Matkins Leck Gamble Mallory & Natsis LLP.
- Represented eight mortgage borrowers and eight mezzanine borrowers that are all affiliates of B.H. Properties, LLC in connection with the modification of an approximately $100,000,000 mortgage loan and an approximately $150,000,000 mezzanine loan from New York Life Insurance Company, secured by three commercial properties in New York City, and the ownership interests in the eight mortgage borrowers, respectively. The lender was represented by Akerman LLP.