Chester P. Lee
Partner
Duane Morris LLP
1540 Broadway
New York, NY 10036-4086
USA
Phone: +1 212 692 1018
Fax: +1 212 202 7507
Email: cplee@duanemorris.com

Chester P. Lee is co-chair of Duane Morris' Real Estate Practice Group. Mr. Lee practices in the area of real estate law, providing strategic and legal advice for all types of commercial real estate transactions. Mr. Lee has represented both lenders and borrowers in secured financings and loan restructurings, including construction loans, Real-Estate-Owned properties (REOs), leasehold financings, debtor-in-possession loans, exit financings, project financings and mezzanine debt.

Mr. Lee also has counseled clients acquiring, disposing and/or developing real property, including ground-lease and sale-leaseback transactions (including sale-leasebacks involving call centers and medical facilities). Many of these matters involved purchases of multiple sites located in numerous jurisdictions. He has represented many foreign investors (including those from China, Russia and France) in their initial acquisitions and developments of projects in the United States (such as retail and manufacturing sites). He also has worked with landlords, tenants and subtenants in the leasing and subleasing of real estate assets, including built-to-suit facilities, retail locations and warehouse and distribution centers.

Mr. Lee has represented international and domestic investors in natural resource acquisitions, including uranium and coal mining projects. Mr. Lee has counseled clients in the financing of energy assets such as wind farms and propane gas distribution facilities.

Mr. Lee is a 1982 graduate of Harvard Law School and a summa cum laude graduate of Columbia University.

Areas of Practice

• Real Estate Law

Representative Matters

• Represented American Realty Capital Properties, Inc. (NASDAQ: ARCP), a NASDAQ-traded real estate investment trust (REIT), in a merger transaction valued at $3.1 billion to acquire American Realty Capital Trust IV, Inc., a "non-traded" REIT. The combined company as a result of the merger will have pro forma enterprise value of $10 billion and will be the second largest REIT in the triple net lease sector.
• Represented American Realty Capital Properties, Inc. (NASDAQ: ARCP), a NASDAQ-traded real estate investment trust (REIT), in its $3.2 billion "reverse" merger to acquire American Realty Capital Trust III, Inc., a "non-traded" REIT. The deal is structured as a cash-election merger in which the cash portion of the consideration will be limited to 30% of the aggregate merger consideration. The combined company is expected to rank among the five largest triple net lease REITs in the United States.
• Representing an Asia-based automotive textile manufacturer with locating and securing its first U.S. facility in the southern United States, including working with consultants and government officials with respect to various incentive programs such as real estate tax abatements.
• Represented Four Springs Capital Trust in the formation of a REIT and its offering of up to $100 million Series A Preferred Shares.
• Represented American Infrastructure MLP Fund L.P. (AIM), a California-based private equity firm, in its acquisition of a controlling interest in the Quik-Way Group. Quik-Way owns and operates more than 110 gas and convenience stores in Texas. As part of the transaction, AIM made an equity capital contribution and arranged for a new $100 million credit facility with a major commercial bank.
• Represented a national lender in numerous financings (aggregating over $750 million) involving the construction and renovation of projects located in the New York City area.
• Represented a joint venture between a shopping center owner/developer and a private equity fund in the purchase and sale of over 400 retail sites located throughout the United States.
• Represented a money center bank in the restructuring of four syndicated construction loans (aggregating approximately $600 million) encumbering projects located in Florida and Georgia (including preparing and reviewing pre-negotiation and standstill agreements and analyzing syndicated lenders consent issues).
• Represented a consumer products company in the build-to-suit lease of an approximately 500,000 square feet warehouse and distribution center.
• Represented an international investor in the joint venture development of uranium mines located in the southwestern part of the United States.
• Represented a renewable energy developer in the financing of various wind farms located throughout New York State.
• Represented an Asia-based manufacturer of automobile components in the acquisition and development of its first manufacturing facility in the United States.
• Represented a propane gas distributor in the financing of its numerous distribution facilities.
• Represented high net worth French and Russian investors in the purchase of New York City properties.
• Represented a China-based investor in the purchase and development of an industrial site.

Professional Activities

• American Bar Association
  - Real Property, Trust and Estate Law Section
• National Asian Pacific American Bar Association

Admissions

• New York

Education

• Harvard Law School, J.D., 1982
• Columbia University, B.A., summa cum laude, 1979

Experience

• Duane Morris LLP
  - Partner, 2009-present
• Morgan, Lewis & Bockius LLP
  - Partner, 1997-2009
  - Of Counsel, 1992-1997
  - Associate, 1989-1992
• Milbank, Tweed, Hadley & McCloy
  - Associate, 1982-1989

Selected Publications

• Author, "Foreign Investment in U.S. Real Estate: A Comprehensive Guide," published by the American Bar Association's Real Property, Trust and Estate Law Section