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The Real Estate Practice Group represents clients in a full array of real estate
transactions throughout the United States, including acquisitions and sales,
construction and permanent financing, joint ventures, leasing, syndication and
sale-leaseback transactions, as well as development, construction and real estate
management, for clients such as financial institutions, investors, developers
and corporations. We also represent these clients in commercial real estate
workouts and the enforcement of rights and remedies in foreclosure, eviction
and bankruptcy and other real estate related litigation. In addition, the Firm's
real estate attorneys regularly advise our corporate and tax lawyers on the
acquisition and financing of businesses where real estate and other fixed assets
are involved.
Kelley Drye represents major financial institutions and other investors and owners
in connection with the acquisition and disposition of all types of real property,
including office buildings, apartment complexes, hotels, hospitals, shopping centers
and industrial complexes located throughout the United States. In this regard,
we have successfully represented real estate equity funds of several Wall Street
investment banking firms in the acquisition and sale of numerous properties throughout
the country. In addition, we have represented private developers and investors
in numerous acquisitions (including ground leasehold estates) and sales involving
a wide variety of real estate product types.
Kelley Drye represents institutional lenders and developers in construction and
permanent mortgage loan transactions, as well as joint ventures, sale-leasebacks
and other forms of real estate financing, involving industrial property, shopping
centers, office buildings, hotels and residential developments.
Our long-standing clients include life insurance companies and real estate finance
companies. In addition, we actively represent certain Wall Street conduit lenders
in making a large volume of mortgage loans intended for securitization. Our clients
also include investment banking firms in other real estate based loans, whether
secured by real estate or other collateral, such as mezzanine loans secured by
assignments of partnership interests.
Kelley Drye regularly engages in the leasing of commercial real property, including
office, retail and industrial space, representing both landlords and tenants.
Typical of our representation of tenants is the leasing by a foreign bank of its
United States headquarters in New York City; the leasing by a national operator
of a retail, entertainment and food operation within shopping malls throughout
the United States; and the leasing by a domestic insurance company of space in
Orange County, New York for its New York State headquarters.
Kelley Drye is an influential leader in the credit-tenant leasing market, having
been involved in transactions with an aggregate value in the billions of dollars.
We have represented numerous clients in all aspects of such transactions, including
lessors; credit-tenants; loan originators (both financings to be held in our clients'
portfolios, and those for immediate sale through private placement and other securitization
vehicles); purchasers of securitized loan interests; and a major residual value
insurer. We have represented clients in traditional sale-leaseback transactions,
as well as in the emerging market of financing credit tenant leases that do not
qualify as "bondable." Our involvement in credit-tenant leasing transactions
spans all property types, such as corporate headquarters and other principal offices,
distribution facilities, financial trading floors, and multi-property pools of
banking and various retail properties.
Kelley Drye represents numerous financial institutions and other investors in
loan restructurings and litigation involving distressed real estate located throughout
the United States. Such matters include refinancings, restructurings of existing
loans, workout agreements, foreclosures, bankruptcies and deeds-in-lieu of foreclosure.
Kelley Drye represents a variety of not-for-profit hospital, educational, religious
and other institutions in the acquisition, development, financing and leasing
of their properties throughout the United States.
Kelley Drye has been instrumental in the privatization of tens of thousands of family housing units on
military installations across the United States. In connection with these complex
transactions, Kelley Drye has negotiated a public-private joint venture between the United States and
the client to be the tenant of a long term ground lease of thousands of acres of federally-owned land
and become the owner of the existing multi-family housing inventory on each base. The joint ventures
are responsible for the ongoing operation of all family housing units on each of these bases for up to
seventy-five years and are also responsible for hundreds of millions of dollars of new construction,
primarily financed by long term private sector debt which is credit-enhanced by third-party surety bond
providers.
Our practice group is dedicated to excellent client service. We adopt a business
approach to problem solving, and strive to find practical and cost effective solutions
for all issues facing our clients. We pride ourselves on providing creative and
timely advice, while staffing matters to be accomplished most efficiently. We
also pride ourselves on our tradition of establishing close long-term relationships
with our clients, always looking for opportunities to add value to their business
in order to help them compete successfully in today's competitive market place.
For further information about Kelley Drye's Real Estate Practice Group, please contact:
Robert D. Bickford, Jr.
(212) 808-7638
rbickford@kelleydrye.com
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