Page 46 - RE-NJ

Professional Spotlight
LINDABURY, MCCORMICK,
ESTABROOK & COOPER PC
OUR EXPERTISE
♦ Financing
♦ Development
♦ Land use
♦ Zoning
♦ Leasing
♦ Acquisitions and sales
OUR CLIENTS
In its well-established, regional
Commercial Real Estate practice,
Lindabury represents developers,
owners, users and financers of industrial,
office, retail and residential property,
including commercial and residential
condominiums and other high-density
developments. The firm routinely
handles sophisticated transactions
involving the purchase, sale, leasing,
subleasing and financing of commercial
and industrial property throughout the
Mid-Atlantic region. We have particular
expertise in the development, financing,
management and leasing of warehouse
facilities in logistics hubs.
We are adept in project finance and
well-versed in the complexities of
developing structured finance solutions
with lenders and borrowers seeking to
acquire, construct, develop or refinance
commercial, residential and mixed-use
properties.
The firm also regularly represents
national, regional and community
lenders, including banks and insurance
companies, in commercial mortgage
transactions, workouts and foreclosures
in New Jersey, New York and
Pennsylvania.
TRANSACTION
SPOTLIGHT
Lindabury recently assisted a family
that for multiple generations owned
commercial real estate in a prime
downtown location, which the borough
desired to be redeveloped for mixed
use. The family members had disparate
desires and objectives for the disposition
of the property. We worked with them to
identify a redeveloper and to negotiate
the terms of the sale, which included
contingencies and opportunities for
additional compensation based upon
the approvals issued for the project.
Along with the additional compensation,
a portion of the base purchase price was
deferred, and we negotiated a mutually
acceptable intercreditor arrangement
with the development lender, including
a mortgage to secure sums owed to the
client. This transaction was complicated
by the unexpected change in New
Jersey law effective June 30, 2025,
which shifted liability for the mansion
tax from the purchaser to the seller,
subject to a brief grandfather period,
which required completion of the sale
agreement by July 10, 2025. Lindabury
was able to achieve that deadline,
resulting in a significant savings of
mansion tax for the client.
ONE MORE THING
Lindabury is a proud member of
two prestigious legal networks:
Legus International and The Parlex
Group. Legus connects medium-
sized firms across the U.S. and
internationally, with Lindabury as
its sole New Jersey member. Parlex
includes 30 firms from 28 countries,
with Lindabury representing the
United States. Membership in these
networks gives us access to trusted
legal partners worldwide, benefiting
clients in an increasingly globalized
market. For example, our logistics
clients have relied on network
partners’ expertise to negotiate
leases in key U.S. and European
hubs, appreciating our ability to
manage legal needs outside the
Mid-Atlantic region without the cost
of a larger law firm.
430 Mountain Avenue, Suite 300
New Providence, NJ 07974