Real Estate And Development Finance

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Spruce Law’s Real Estate Practice: Our Value Proposition

Legal Services Optimized. Spruce Law provides “big-firm” quality, highly-responsive representation, delivered with individualized service and unmatched value. Our attorneys have practiced in some of the largest and most respected global firms, corporate legal departments, and boutique law firms. We are a team of seasoned legal professionals and industry experts, with pedigrees equal to those found at traditional large firms, but our highly innovative law firm structure enables us to serve your needs with maximum efficiency. We are committed to delivering top-quality legal service with predictable, value-driven billing arrangements.

Simply put …we get it!

Today’s Real Estate Deals. Real estate professionals and credit sources must now satisfy increasingly rigorous financing and permitting standards, which can make the funding and development process multi-faceted and difficult. Whether you are a lender, developer, borrower, real estate fund, or investor, you need experienced and responsive representation on which you can rely to get the deal done. We provide the creativity, ingenuity, and tireless drive required to get your deals to the finish line.

Common Sense, Results-Driven Approach. Your primary business goals and objectives are always the most important aspects of the deal. Somehow the legal profession has lost track of this. We have not! We listen before we speak. We take the time to learn what is most important to you, so that each representation is tailored to your precise business needs and goals.

Always Seeking Efficiency. We take great pride in working with our clients to drive efficiency into each transaction, especially when handling similar and often repetitive deal types, such as commercial lending, borrowing, and private equity financing. We make our clients’ lives easier by guiding them through the complexities of the transaction process, anticipating challenges based on past experience, and applying practical, and whenever possible, repeatable, solutions.

Cross-Disciplinary Skills and Experience. Spruce Law’s veteran real estate and corporate attorneys have successfully closed thousands of large, complex real estate deals. Our boutique real estate team was strategically built for the multi-faceted nature of today’s real estate deals and development projects. We bring corporate, tax, zoning, lending, environmental, and transactional real estate knowledge and know-how to the table to get your real estate deals closed.

Recent Real Estate Development and Financing Transactions and Representations

  • Represented land developer with the acquisition, and partial strategic disposition of, a large mixed-use project (retail, hospitality, multi-family, and single family) with a total investment of $350,000,000.
  • Represented developer on $25MM townhome development involving financing, zoning variances, and historic commission approvals.
  • Representation of a local real estate developer in the acquisition of an $86 million historic apartment portfolio located in the Philadelphia and Pittsburgh metropolitan markets, including the negotiation of a joint venture with the developer’s institutional equity partner and the assumption of approximately $46 million in existing debt.
  • Representation of a local real estate investment group in the acquisition of a ski resort and water park located in Northeastern Pennsylvania, including the purchase of the project out of bankruptcy at a discount and the negotiation of related acquisition and construction financing.
  • Represented developer in complex exchange of properties resulting in client owning a historic, 108 unit apartment building and undertaking $60MM of debt financed renovations.
  • Ongoing representation of numerous local, regional and national lenders in acquisition, construction and permanent financing for real estate assets across numerous asset classes (e.g., multi-family, residential, office, mixed-use, retail, industrial, owner-occupied).
  • Closing of multi-million dollar debt and syndicated equity financing for redevelopment of a prominently located shopping center into a mixed-use townhome and retail project.
  • Representation of a suburban land developer with the syndicated equity financing for the acquisition, development, and disposition of a 463 unit residential project.
  • Provided planning advice on a $10,000,000 refinance transaction avoiding over $200,000.00 in realty transfer tax in New Jersey.
  • Represented multiple borrowers in construction to permanent financing transactions for student housing and multi-family projects.
  • Representation of a global chemical company in all real estate related aspects of its business, including a lease of a new headquarters facility involving a multimillion dollar fit-out for office, lab and pilot plant space.
  • Represented lender in multi-million dollar refinance of hotel property.
  • Obtained zoning approvals and permits from the City of Philadelphia for the redevelopment of former sporting goods factory into rental apartments and live-work units.
  • Formation of a real estate investment fund for investment in distressed multi-family real estate assets.
  • Representation of a national cell tower developer in obtaining zoning approvals for numerous cell tower sites in Philadelphia.
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