AT A GLANCE
101 Eisenhower Parkway
Roseland, NJ 07068
Year founded: 1967
Total number of attorneys: 80
Number of real estate attorneys: 15
Areas of expertise in real estate: Apartment building development, acquisition, sales and financing; Retail and commercial leasing, development, sales, acquisition and financing; Commercial real estate finance and lending, including mortgage finance, structured finance, mezzanine and preferred equity finance; Real estate joint ventures and equity syndications; Zoning, land use, development and planning; Regulatory and code compliance; Condominium, cooperative and other planned unit development communities
OUR CLIENTS
We serve professional real estate investors, operators and developers as well as real estate lenders.
OUR ADVANTAGE
Our personal experience and deep understanding of the issues that drive real estate transactions allow us to render advice that is legally sound and practical and, importantly, consistently achieves our clients’ business objectives.
ON THE HORIZON
With the office building market taking a hit as a result of the COVID-19 pandemic, we have seen many investors flocking to apartments and industrial properties.
We continue to dominate regional real estate transactions while simultaneously expanding nationally, most notably in the southeastern U.S. and Midwest. We are working on deals in New Jersey, including the sale of a $77 million portfolio of properties in Essex County, and just closed on the purchase of a $75 million portfolio in Irvington, NJ. We are seeing increased volume in states including Michigan, Ohio, Kentucky, Tennessee, Maryland, Virginia and Florida, as our clients are in search of higher yields outside of the New York, New Jersey and Pennsylvania region.
Our most sophisticated real estate players utilize Section 1031 of the IRS code — tax-deferred exchanges — when selling and purchasing properties. And with regard to financing, many of our larger transactions and portfolios utilize agency loans from Fannie Mae and Freddie Mac. Local financial institutions are still providing funding for more typical transactions.
TRANSACTION SPOTLIGHT
Some of our recently closed transactions include:
- A portfolio sale for a client of 10 complexes involving 5,000 apartments throughout the state of Maryland in 9 separate transactions to 9 separate buyers totaling over $700 million.
- A sale for a client of a portfolio of 10 retail and industrial properties in Bergen County and Morris County, New Jersey for a sale price of over $100 million which closed in just under 7 weeks.
- The purchase for a client of a portfolio of 9 multifamily apartment complexes in 6 different states, including North Carolina, Florida, Texas, Louisiana, Alabama and Kentucky for a purchase price just north of $590 million.
