Quarles & Brady LLP
Real Estate
No matter where or how they do business, nearly every corporation, not-for-profit and individual entrepreneur shares at least one common concern: real estate. Whether building a multimillion-dollar distribution center, developing a new nursing-home facility, renting temporary retail space to meet holiday demand, or investing capital as part of a long-term diversification strategy, most companies and organizations are faced with real estate issues on a regular basis.
The Real Estate Practice Group at Quarles & Brady LLP also understands that, just as no two real estate transactions are alike, our clients come to the negotiating table from many different perspectives. Broadly speaking, our clients form three, somewhat distinct groups: those for whom real estate is their primary business (including developers, builders, contractors and property managers); those for whom real estate is both an asset and a business requirement (such as manufacturers, retailers, service providers and developers of natural resources); and those for whom real estate is primarily a financial investment (including Real Estate Investment Trusts—or REITS—venture capitalists, financial institutions and other lenders, and mutual funds).
What’s more, real estate issues are evolving at an ever-increasing pace. Although traditional transactions occur every day, sellers, purchasers and lenders are regularly faced with new developments in tax and land-use law, emerging environmental issues such as brownfields redevelopment and conservation easements, and both predictable and unpredictable economic cycles.
To better serve our diverse clients in this complex area of law, Quarles & Brady has developed a sophisticated team of legal professionals whose breadth of skill and depth of experience are more than equal to our clients’ challenges. We are dedicated to providing responsive and pragmatic solutions that meet real-world needs, working side-by-side with our clients to better understand their unique challenges and opportunities.
Real estate transactions begin long before and last long after the ink on a deal has dried. In many cases, objectives are identified and decisions are made years, even decades, before our clients realize a particular need. Likewise, the effects of today’s actions may be felt for generations to come.
In many ways, real estate issues, transactions and investments follow a natural lifecycle. Land is zoned or designated for particular public and private purposes; potential purchasers are matched with financiers for whom real estate is a key investment vehicle; the land is developed to meet particular business, social and investment objectives; it may then be leased or sold to yet another party; and, in some cases, it may become the primary asset in question during a bankruptcy proceeding, divestiture or charitable transaction.
At Quarles & Brady, we blend this lifecycle perspective with an understanding of our clients’ own histories, goals and objectives. We know that business resources and requirements will vary as an enterprise matures, and provide legal solutions that take full advantage of existing or potential assets, maximize opportunities while minimizing risks, and set the standard for future endeavors.
We have significant experience representing clients engaged primarily in the acquisition, development, leasing, management and sale of real estate assets. These include local and national developers of commercial and residential property (such as office buildings, shopping malls, industrial sites, hotels and resorts, single-family homes, multiple-unit complexes and mixed-use developments), property managers, contractors, brokerage firms and others.
On behalf of these clients, we offer a full range of services that meet both ongoing concerns and long-term objectives, including:
* Formating legal entities, including corporations, joint ventures, partnerships and limited liability companies.
* Negotiating acquisitions, dispositions and leasing arrangements.
* Obtaining and structuring construction loans and permanent financing.
* Ensuring compliance with, and negotiating, zoning, building and land-use regulations and approvals, including preparation of petitions and representation at hearings.
* Forming condominiums and property owners associations
* Acquiring water and other rights.
* Drafting construction and architectural contracts.
* Developing tax-increment financing and other community re-development incentives.
* Assessing brownfield issues and environmental-restoration requirements.
For many clients, real estate is not a primary asset, but, rather, a resource that enables the pursuit of their core business functions. These include all types of manufacturers, retailers, service providers and developers of natural resources. We work with these clients to identify, manage and maximize their real estate resources with an in-depth understanding of both short- and long-term goals, including:
* Purchase and sale of land, buildings and property rights.
* Negotiation of leasing and subleasing arrangements.
* Compliance and variances to zoning and land-use regulations.
* Negotiating of local incentives for proposed facilities.
* Planning for income tax and real estate tax issues.
Many of our clients include financial institutions and other investment groups for whom real estate is primarily an investment tool. We represent banks, savings and loan associations, pension funds, insurance companies, private investors and issuers of bonds in lending and investment transactions around the country. With years of experience structuring complex deals under a full range of scenarios, we combine in-depth knowledge of local and national markets, emerging business issues, economic trends, and real estate and finance law. We provide guidance regarding:
* Commercial and residential construction financing.
* Lease financing.
* Sales/leaseback arrangements.
* Credit lines.
* Leasehold and fee mortgage financing for leveraged buyouts.
* Synthetic leases.
* Real estate secured bonds.
* Securitization of mortgage receivables.
* Government-sponsored initiatives, such as TIF redevelopment agreements, tax-exempt bond issues, and block grants.
* Foreclosures, debt financing, and workouts.
* Like-kind exchanges.
* Litigation.
With nearly 50 attorneys in our Real Estate Practice Group working from our offices in Arizona, Florida, Illinois and Wisconsin, we are able to staff our projects by matching attorney skills and experience with the needs and goals of our clients. By virtue of this breadth and depth, our attorneys are also encouraged to develop additional, specialized knowledge so that we can better serve our clients, no matter the size, nature or location of the transaction. Our attorneys are constantly broadening the boundaries of their legal practice, gaining significant experience in certain industries, client types or transactions, and enabling us to provide the highest quality service—whether negotiating the purchase of a single parcel of land or managing a multi-state transaction.
Many real estate transactions involve issues that extend beyond those traditionally associated with straightforward property sales or purchases. As part of a full-service law firm, we regularly tap into the knowledge of our fellow attorneys in order to provide seamless service and coordinated solutions. For example, when transactions involve potential brownfields or otherwise contaminated sites, hazardous waste permitting, wetlands development and other issues, we work closely with members of the firm’s Environmental Law Practice Group. Similarly, transactions may involve bankruptcy and creditors’ rights issues, tax-exempt organizations and many other areas for which we have the in-house resources and knowledge.
At Quarles & Brady, we understand the unique challenges that face our clients in regard to real estate, the nearly universal asset. With our lifecycle perspective, breadth of experience and knowledge, and extensive firm resources, we deliver cost-effective legal counsel both locally and nationally. We welcome the opportunity to help you assess your real estate needs and manage your investments in this most important resource.
Quarles & Brady LLP
411 E Wisconsin Ave #2040
Milwaukee WI 53202-4497
Tel: 414 277-5000
Fax: 414 271-3552
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