Real Estate / Acquisitions & Dispositions
Sklar Kirsh assists clients in acquiring and selling commercial and residential real estate properties, whether it’s a single asset transaction, national portfolio of properties, raw land for ground up development or REO assets. We offer our clients depth of experience, range and breadth of industry contacts and a thorough understanding of the varied marketplaces in which our clients do business within Southern California and beyond.
We counsel clients in the acquiring and selling of all sectors of income producing assets as well as development projects. In addition to preparing the core transaction documents, such as the purchase and sale agreement and related closing documents, we assist our clients in performing all due diligence relating to the acquisition or disposition of property, such as (i) reviewing all title matters relating to the property, (ii) confirming all requisite land use approvals for the property have been obtained from the applicable governmental agencies, (iii) reviewing all leases and preparing abstracts to identify material matters, and (iv) consulting with our clients regarding any relevant tax concerns.
- Represented Shopoff Realty Investments in connection with its joint venture acquisition of a 165,000 square foot office park located in Goleta, California from Montana Avenue Capital Partners for $61,000,000. Concurrently with the acquisition, and as part of this same transaction, Shopoff immediately sold the ground lease interest in the Property to Safehold, Inc. for $22,000,000, while retaining a leasehold interest in the Property. Equity was provided by Blackbird Investment Group which was represented by Greenberg Traurig. Financing of Shopoff’s leasehold interest in the Property was provided by Benefit Street Partners who was represented by Holland & Knight. Safehold was represented by Stroock.
- Represented Sci-Los Alisos LLC, an affiliate of Shopoff Realty Investments, LP, in its sale of a multi-tenant retail center located in Mission Viejo, California, for a purchase price of $14,500,000. The buyer was Harbor Asset Management, LLC.
- Represented TruAmerica Multifamily, LLC in connection with the $90,250,000 acquisition of a 220-unit housing development located in Norfolk, Massachusetts. Seller was represented by Goulston & Storrs. TruAmerica obtained a $65,982,000 loan from Walker & Dunlop/Freddie Mac, which was represented by Seyfarth Shaw LLP.
- Represented John Wilcox in his acquisition of an industrial building in Houston, Texas for a purchase price of approximately $57,000,000 which was financed partly by a loan assumption of a $53,000,000 loan made by Wilmington Trust.
- Represented Tides Equities, LLC, in connection with its sale of a 181-unit multi-family property located in Phoenix, Arizona for a total purchase price of $38,000,000. Sklar Kirsh assisted Tides and their equity partner, Beverly Pacific, LLC when they purchased the property in 2018 for $26,600,000. Buyer was represented by Davis Brown Law Firm.
- Represented Tides Equities, LLC, in connection with its sale of a 488-unit multi-family property located in Phoenix, Arizona for a total purchase price of $60,000,000. Sklar Kirsh assisted Tides and their equity partner, Asset Management Consultants, Inc. when they purchased the property in 2019 for $39,750,000. The Buyer was represented by Iacoi Law in Boston, MA.
- Represented Tides Equities, LLC in connection with the $19,750,000 joint venture acquisition of the Royal Village Apartments, located in Glendale, Arizona. Equity was provided by Asset Management Consultants, Inc., which was represented by Davies Lemmis Raphaely. Financing was provided by Rialto Capital Mortgage which was represented by Cozen O’Connor.
- Represented Miramar Industrial GP Partners, LLC in its acquisition, using a TIC structure, of an industrial warehouse in Danbury, Connecticut for a purchase price of $62,500,000. The acquisition was partly financed by a loan from California Bank & Trust.
- Represented NGX3, LLC, an affiliate of NextGen Apartments LLC, in its acquisition of a multi-family residential property located in Gardena, California for a purchase price of $8,000,000.
- Represented the joint venture of RMA and Harbor Associates in the sale of an office building in San Diego, California for $7,000,000.