Real Estate

We represent buyers and sellers of commercial office buildings, shopping centers, hotels, multi-family residential complexes, industrial properties, health care facilities and undeveloped land. Some of the transactions we have handled include:

• Acquisitions and sales
• Joint ventures, REIT, limited liability companies and partnership transactions
• Transactions involving entities subject to bankruptcy proceedings
• Portfolio sales and acquisitions and other "bulk" dispositions of equity interests and debt
• Sale-leasebacks
• Ground lease transactions
• Private placement of equity investments

We have extensive experience in structuring complicated financing transactions for lenders and borrowers in connection with the acquisition, construction, development, refinancing and sale of commercial, retail, hotel, industrial, multi-family and health care properties. The group often works in conjunction with lawyers from across the firm's practice groups.

Financing transactions on which the firm has advised include the following:

• Interim and permanent financings
• Loan portfolio acquisition financings
• Participating and convertible mortgage loans
• Subordinated financings and intercreditor arrangements
• Ground lease financings
• Credit-enhanced facilities
• Bond financings
• Syndicated, "club" and participated loans
• Private placements of secured debt
• Equity financings
• Securitized loans
• Credit tenant financings

Schulte's Real Estate Group has represented large financial institutions, which typically act as the lead lender for a syndicate of other lending institutions, in providing construction financing for substantial office building renovation projects, hotel and luxury residential construction projects, and large shopping center developments throughout the country. We have also represented banks and real estate debt funds in the syndicate of lenders making construction loans.

As a New York law firm, we have considerable experience structuring construction financing transactions for New York projects so as to favorably address the unique issues and complexities created under the New York lien law.

Another dimension of conventional real estate mortgage loan financing is the additional equity financing often provided in the context of an acquisition of a property or the refinancing of a mortgage loan. We have represented investment banks and other financial institutions providing mezzanine financing on numerous types of properties throughout the country. In particular, our longstanding experience and skill in addressing the countervailing interests of mortgage lenders and mezzanine lenders enables us to hone in on the critical issues in an intercreditor agreement to achieve a resolution acceptable to both parties.

Schulte's Real Estate Group has long had a strong focus on the representation of clients in the acquisition, financing, development and sale of all types of properties - unimproved and improved, residential and commercial use - including trophy office buildings, shopping centers, luxury hotels, condominiums and multi-family residential projects throughout the US. Our lawyers routinely advise and represent clients on a wide array of legal matters, including:

• The acquisition, development, operation and disposition of major real estate projects
• The structuring of financing transactions; ownership agreements, including limited liability companies, partnerships and joint ventures; and the negotiation of ground leases
• The due diligence, negotiation, documentation and closing of real estate acquisitions and sales
• The refinancing and restructuring of non-performing financing obligations
• The drafting and negotiating of development agreements, property management agreements, condominium documents, easements, restrictive covenants and other agreements related to real estate development
• The review and analysis of construction contracts, architectural and engineering contracts, and owner and contractor claims

We represent a number of major landlords of properties in the New York metropolitan area, as well as numerous office and retail tenants across the US. In addition to handling very large and sophisticated lease negotiations for owners and tenants, we have significant experience in the following areas:

• Restaurant, catering and other hospitality industry leases
• Structuring, negotiating and auditing rent escalations, including real estate taxes, operating expenses and labor rates.
• Fair market value arbitration proceedings and lease-escalation disputes
• Negotiating leases with highly technical electrical, emergency power and telecommunications requirements
• Landlord-tenant disputes and litigation
• Securing the performance of landlord and tenant obligations in bankruptcy and other workout situations
• Parking garage leases and operating agreements
• Leases of telecommunication properties, including web hosting and co-location facilities, fiber optic licenses and meet-me rooms

We have significant experience representing clients in troubled financings and bankruptcy situations. Our lawyers advise secured and unsecured creditors, loan servicers, special servicers, acquirers and other interested parties in major debt and equity restructurings. We represent investors, including public and private real estate funds, equity funds and developers, whose primary focus is the acquisition, development and/or disposition of distressed real estate. We represent lenders and borrowers faced with distressed real estate loans in workouts, restructurings, foreclosures, deeds in lieu of foreclosure, UCC foreclosures, receiverships, Chapter 11 cases and cramdowns.

In an environment of increasing regulatory scrutiny and third-party liability, risk allocation and risk transfer through insurance play an ever-increasing role in corporate governance and business transactions. Whether your business involves financial services, investments, banking, mergers and acquisitions or real estate, the lawyers in the firm's insurance practice are experienced in negotiating manuscript insurance policies to meet clients’ unique needs. One of our strengths comes from years of experience litigating insurance coverage arising under General Liability, Directors & Officers, Errors & Omissions Professional Liability and Pollution insurance policies. Our experience in the courtroom gives us a real world perspective on structuring insurance that will withstand future scrutiny.

We have established a national reputation as industry leaders representing clients in pollution liability claims that arise under specialized pollution insurance. Once a cottage industry, pollution insurance products are now a multi-billion dollar segment of the insurance industry. Our lawyers have been there from the birth of this product in the early 1980s and have continued to counsel the leaders in the pollution insurance industry for many years. We regularly litigate pollution, professional liability and directors and officers liability coverage matters nationwide and in international forums.