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.
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- Represented 14305 SW Sexton Mountain ARE, LLC, an affiliate of Arrowroot Real Estate, in its acquisition of a multi-family project know as Terra Murrayhill Apartments located in Beaverton, Oregon. In order to finance this transaction, we assisted our client in obtaining a loan in an amount equal to $24,560,000 from California Bank & Trust. We also assisted our client in forming a joint venture with Thrive FP, a real estate investment firm based out of Austin, Texas, and we helped our client form a syndication to fund their portion of the equity. Lender was represented by Bryan Cave Leighton Paisner LLP and Thrive was represented by Metcalfe Wolff Stuart & Williams, LLP.
- Represented CityView’s affiliate entity, CV Wilshire Hobart, LLC, in connection with the sale of its interest in a joint venture entity which owned and operated “The Pearl on Wilshire,” a 346-unit multi-family property located in the Mid-Wilshire/Korea Town area of Los Angeles, California. The purchase price for the CityView’s interest was approximately $52,300,000.
- Represented Pacific Reach Properties in a reverse 1031 exchange transaction. Our client purchased a property known as Pico Lanai as a potential replacement property for two properties to be sold. This involved splitting up the Pico Lanai ownership into 50/50 Tenancy in Common interests, with each 50% interest to be purchased by a single member LLC acting as 1031 Exchange Accommodation titleholder. To purchase the Pico Lanai property, we assisted our client in assuming a $30,697,000 loan from Fannie Mae, represented by Troutman Sanders.
- Represented Glencrest Waterscape, LLC, an affiliate of Glencrest Realty Capital, in connection with its acquisition of The Waterscape Apartments, a 180-units multi-family property located in Fairfield, California for a total purchase price of $48,200,000. The property was acquired by our client in a joint venture partnership with Angelo Gordon and our client also syndicated its equity contribution in connection with this acquisition. Angelo Gordon was represented by Sutton, Pakfar & Courtney LLP.
- Represented Lighthouse JAX, LLC, an affiliate of The Lighthouse Group, LLC, in its acquisition of a multi-family residential project located in Jacksonville, Florida, for a total purchase price of $9,325,000. We also assisted our client in obtaining an acquisition loan in an amount of $7,875,000 from KeyBank, N.A. Seller was represented by Graner Platzek & Allison, P.A. and lender was represented by Snell & Wilmer, LLP.
- Represented BCH 3001 LP, an affiliate of Turnstone Capital Management Group, in its acquisition of a multi-family residential project know as Bellum Manor Apartments located in Phoenix, Arizona for a total purchase price of $19,800,000. In order to fund the acquisition we assisted our client in forming a joint venture with Paravest Capital, represented by Andres & Barth, PC, and in obtaining a loan in the amount of $18,896,655 from The Bancorp Bank, represented by Sills Cummis & Gross, P.C. Our client’s portion of the equity in the joint venture was sourced through a syndication fund we also helped them form for this transaction.
- Represented Renton Fee Owner, LLC, an affiliate of New Standard Equities, Inc., in its sale of The Renton Sage Apartments, a multi-family property located in Renton, Washington, for a total purchase price of $59,500,000. Buyer was represented by Blank Rome LLP.
- Represented Muir Creek Investors, an affiliate of The Jacobson Company, in its sale of Muir Creek Apartments, a multi-family property located in Martinez, California, for a total purchase price of $30,300,000.
- Represented Stadium 700, LLC, an affiliate of The Lighthouse Group, LLC, in its acquisition of a multi-family residential project located in Arlington, Texas, known as the Plantation Place, and Court Apartments for a total purchase price of $14,000,000. In order to acquire the property, we assisted our client in obtaining a loan in the amount of $11,345,000 from KeyBank National Association.
- Represented Tides Equities, LLC in connection with the $72,500,000 joint venture acquisition of the Alvista Terrace Apartments, a 366-unit apartment community in Colton, California. Equity was provided by Drake Real Estate Partners, which was represented by Katten Muchin Rosenman LLP. Financing was provided by MF-1 Capital LLC, which was represented by Holland & Knight LLP.