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Real Estate
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Recent transactions of significance involving Duane Morris real estate lawyers include:Duane Morris represented NASDAQ-traded real estate investment trust (REIT) American Realty Capital Properties, Inc., in a reverse merger transaction to acquire American Realty Capital Trust III, Inc., a "non-traded" REIT. The deal is structured as a cash-election merger involving the two REITs and their operating partnerships in which the cash component will not exceed 30 percent of the deal consideration. According to SEC filings, the combined company is expected to have enterprise value of $3.2 billion and market capitalization of $1.9 billion, with access to $1 billion in debt financing. Duane Morris real estate attorneys led $250 million in real estate-based bank financings in conjunction with a $138 million initial public offering of wholesale motor fuel distributor Lehigh Gas Partners LP (NYSE: LGP). Duane Morris transactional partners worked as a multi-practice, multi-office team in representing the client in the financings, restructuring and IPO. |
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Chambers USA 2012 on Duane Morris' Real Estate Practice:The Chambers USA survey of the American legal profession cited Duane Morris' real estate practice and singled out its attorneys for their knowledge and experience. "Attorneys at Duane Morris are able to assist clients on a wide range of real estate matters, including leasing, restructuring, eminent domain and development … Sources say: 'An outstanding firm that was very responsive and understood our expectations.'"
"Avatar Holdings Inc. is engaged in real estate operations, primarily the development of lifestyle communities in Florida and Arizona. When handling our litigation matters, Duane Morris attorneys have consistently impressed me with their responsiveness, effectiveness and understanding of our business. These are among the reasons I have retained the firm for numerous projects over the years. The firm is a recognized presence throughout Florida." PK FLETCHER
"As one of the nation’s leading drugstore chains with a presence on both the East and West Coasts, having real estate counsel across the country is essential. We have turned to Duane Morris for real estate work including condemnation of property issues, relocation and zoning law matters. I know that whether a matter is based in Pennsylvania or in any state in which we operate our 4,700 stores across the country, Duane Morris lawyers have the knowledge and capability to handle it efficiently and effectively." JOSEPH J. NOTARIANNI, JR. |
