Real Estate Law

This is the area of the law dealing with real property. We assist with: immovable property such as land, buildings, and fixtures, but most importantly the property generates income. This includes properties such as offices, retail space, restaurants, malls, factories, medical office, industrial, and flex / research and development space. Both federal and state laws govern commercial real estate transactions. For legal purposes commercial real estate can include anything dealing with real property in a business context. This could be selling real property with or without a business attached, selling an apartment complex, or leasing out executive office space.

We assist clients with the following issues:

  • Sales and Acquisitions. The representation of buyers and sellers in the acquisition and disposition of the various kinds of real estate including office buildings, retail centers, hotels, industrial properties, residential properties and manufactured housing communities.
  • The examination of title to real estate, evaluation of title exceptions and negotiation of title insurance policies.
  • Land Use and Environmental. Land use entitlements, due diligence investigations, Brownfield developments and compliance with Environmental Laws and federal and state Endangered Species Acts.
  • The negotiation and preparation of development and construction agreements and the other documents required to develop and construct office buildings, shopping centers, mixed-use projects, free-standing units and industrial sites.
  • The negotiation and preparation of office, retail and industrial leases and long-term ground leases.
  • The representation of lenders and borrowers in real estate secured loan originations, loan sales and purchases and other debt arrangements, including permanent financings, construction loans, bridge loans, conduit loans, mezzanine loans, shared appreciation loans and portfolios of non-performing loans.
  • Joint Ventures. A very large proportion of real estate transactions involve joint ventures between capital sources and developers. Therefore, a real estate firm must be in position to structure and negotiate partnership agreements, limited liability company operating agreements, shareholder agreements and other forms of joint venture arrangements and advise on the tax aspects of the transactions.
  • Restructuring and Workouts. Not all real estate transactions are successful. Real estate lawyers therefore, must be in position to advise lenders, borrowers, partners, landlords, tenants and developers when a transaction goes bad. This will involve transactional, bankruptcy, tax and litigation work. It will include loan modifications, foreclosures, deeds in lieu of foreclosure, discounted loan payoffs, loan forbearances, REO sales, joint venture modifications, buy/sells, forced sales, lease and development modifications, bankruptcies, receivership actions and guarantee actions.
  • Litigation in the real estate area involves the representations of real estate owners, buyers, sellers, lessors, brokers, lenders, and developers in, among other things, contract disputes, mechanics lien and construction disputes, eminent domain proceedings, title disputes, loan service and foreclosure issues and bankruptcy.

Condominiums and Planned Communities 
Our Real Estate Practice Group has represented many developers in the creation of condominiums and planned communities. We have experience with creating new mixed-use, multi-tier communities, as well with the conversion of existing residential and industrial buildings to condominiums. We also represent and advise condominium, homeowner and community associations with their governance issues.

Real Estate Investment Trusts (REITs)
Stradley Ronon’s attorneys regularly handle the complex and sophisticated transactions faced by Real Estate Investment Trusts. Our attorneys apply a multi-discipline approach in real estate acquisitions and dispositions, the transfer of interests in REITs, whether through an UpREIT or DownREIT structure, tax planning, or the issuance of publicly or privately held securities. Based on our knowledge of the REIT structure, our attorneys are able to offer advice and assistance in a number of areas, including:

  • structuring mergers and acquisitions

  • assistance on day-to-day operational matters, such as negotiating commercial leases, property management and brokerage agreements

  • securities offerings and compliance

  • debt financings

  • divestiture representation 

  • federal tax, regulatory and environmental compliance matters