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OUR CLIENTS
Genova Burns represents a broad range of participants with a diverse class of asset types in the real-estate industry from local, regional and national developers, commercial lenders and financial institutions to property owners, landlords, tenants and borrowers. The core of our client base includes multifamily and mixed-use property owners and developers, private equity investors and joint ventures, national as well as local retail businesses, and owners
and operators of office, industrial and retail properties,
all having or seeking to establish a presence in the local marketplace.
ON THE HORIZON
As interest rates remain elevated and recession fears percolate, Genova Burns sees various incentive programs as growing in importance to developers and the broader real-estate community. State incentives (including Aspire, Emerge and Historic Property Reinvestment Program) may make the difference between the projects that succeed and those that are no longer viable under current conditions. Understanding what incentive programs are available, the eligibility requirements and how to navigate the process can make or break a transaction. Related,
494 Broad Street Newark, NJ 07102
AT A GLANCE
YEAR FOUNDED: 1989 NUMBER OF ATTORNEYS: 81
NUMBER OF ATTORNEYS INVOLVED IN COMMERCIAL REAL ESTATE IN
NEW JERSEY: 15
AREAS OF EXPERTISE IN REAL ESTATE: Commercial Real Estate and Redevelopment, including, but not limited to, commercial financing, commercial leasing, distressed assets, land use and zoning, redevelopment agreements and public incentives, including tax abatements and state and federal incentives.
Genova Burns has been intimately involved in the rebirth of the film industry (and its related incentives) in New Jersey, and the growth of this industry will continue to reverberate throughout the state.
TRANSACTION SPOTLIGHT
Genova Burns’ commercial real estate and corporate
law and business transactions attorneys represented a family-owned real estate investment group in the sale and subsequent winding down of a decades-long real estate investment vehicle, which included the sale of
a multimillion-dollar multifamily project. Our team of attorneys helped navigate our client through the wind down, taking into careful consideration personal and family conflicts and power struggles that had grown over the decades to find a resolution satisfactory to all parties involved. Timing was critical to finding resolutions to our client’s internal conflicts in order to maximize the financial return for our client, as interest rates continued to rise throughout 2022, potentially jeopardizing the sale as the real estate market continued to cool and potential investors showed trepidation with the possibility of an economic recession on the horizon.
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