CONSTRUCTION AND DEVELOPMENT

Owner/developer representation

We are the primary counsel for the project developer for a $76.5 million mixed-use development in Illinois. The project, known as "The Bend" for its location on a curve of the Mississippi, will include a new hotel, 324 multi-family units, an assisted living facility, a public park, two restaurants, and four retail sites.

Advised the owner-operator of an assisted living facility on the $70 million redevelopment of the facility. (2016)

Represented the developer of new $70 million mixed-use development in St. Louis with a major national retailer, apartments and a parking garage. (2016)

Represented a co-manager in connection with a $56.5 million construction loan for the development of an industrial facility, including extensive negotiation of a guaranty liability for the benefit of our clients, who had only a small interest in the borrower entity. (2015)

Represented the buyer-developer in the acquisition of a property and the negotiation and closing of a $50.8 million construction loan for a new student housing facility at a public university in Ohio. (2015)

Represented an equity group in a $31.2 million construction loan for a proposed six-story, 110-unit, 428-student housing development at an Illinois university, including retail and an amenity complex. (2016)

Led the negotiation of a $20 million build-to-suit lease for the new corporate headquarters of a major agricultural banking entity. The transaction involved the negotiation of a Chapter 100 lease with the county, pursuant to which the landlord will receive certain tax abatement which will be passed on to the client in the form of reduced additional rent. (2015)

Lender representation

Represented the lender in an acquisition and construction loan that totaled almost $83 million. Representation included drafting loan documents, reviewing due diligence items and closing the three transactions. (2016)

Represented the lender in a series of loans totaling $69.1 million for the acquisition and construction of supportive and assisted living facilities in Illinois and Wisconsin. (2015)

Represented a bank in a $58 million construction loan for the acquisition and development of 5.8 acres in San Jose, Calif., for a 90,000-square-foot building for a federal agency. (2016)

Represented the lender in a $28.3 million construction loan for the development of two parcels of prime real estate in downtown Clayton. The borrower is developing a $41 million, six-story, 210,000-square-foot-building that would include 120 one- and two-bedroom apartments, 13,500 square feet of street-level retail and 145 below-grade parking spaces. Additionally, the property is part of a CID (Community Improvement District). (2015)

Represented the lender in a $25.2 million construction loan for the development of a building in a high-tech corridor in the City of St. Louis. The loan was secured partially by real estate and TIF revenue generated by a newly constructed retailer located in the same TIF district. (2015)

Represented the lender in a $6.5 million acquisition and construction loan to acquire and rehabilitate an existing supportive living facility in Northern Illinois. We closed in a tight timeframe and were able to work with the property owner, seller and property operator on mutually agreeable documentation on all facets of this transaction, including the subordination of seller financing. (2016)

Represented the lender in a $6.8 million construction loan for rehabilitation of an office building in downtown Milwaukee. We collaborated with borrower and developed mutually agreeable resolutions for retrofitting an office building for use by a medical provider. (2016)

Multi-Family

Represented the developer of a $66 million apartment complex project in the City of St. Louis. (2016)

Represented a lender with respect to a $12 million construction loan for the construction of an 80-unit affordable housing apartment complex in Southern Illinois. (2016)

Represented the lender in a $19.7 million construction loan for a 225-unit multifamily development located in Sioux City, Iowa. The project was unique because the borrower qualified for two Iowa tax incentives, the Iowa State Workforce Housing Tax Credit and a 10-year partial property tax abatement. (2015)

Represented a national financial institution in a $24.9 million construction loan to the developer of an 80-unit transit-oriented low income housing project in Los Angeles. (2015)

Represented the lender in a $22 million construction loan for the construction of a 164-unit low income multi-family apartment complex in New Orleans secured in part by federal low income housing tax credits. (2015)

Represented the lender in a $6.3 million construction and permanent loan for the construction of a 77-unit low income multi-family apartment complex in St. Louis secured in part by federal low income housing tax credits. (2015)