Practice Details
Real Estate
Stein & Lubin LLP’s Real Estate Practice Group has been one of the cornerstones of the firm since its inception in 1982. The practice is broad-based and comprehensive. We regularly represent parties on every side of significant real estate transactions involving property of all types including office, retail, industrial, life/science, mixed-use, multi-family and residential. Our clients include institutional and entrepreneurial investors and developers, banks, brokerages, retailers, insurers, financial institutions and other local, regional and national companies.
Our practice encompasses four principal areas:
Purchase and Sale Transactions
We negotiate and document purchase and sale agreements, letters of intent, option agreements and financing agreements, assist with property inspections, environmental, title and other due diligence, review and modify leases and subleases, refine brokerage agreements and coordinate closings.
Leasing
We represent both landlords and tenants in all aspects of commercial leasing, including the leasing of office, retail space, shopping centers, life/science, industrial, and manufacturing buildings and mixed-use developments. We also have extensive experience representing clients in ground-lease transactions, both for new developments and existing buildings. We assist our leasing clients by negotiating and preparing work letters, takeover agreements and reciprocal lease agreements and by negotiating and refining brokerage agreements.
Development
We represent local, regional, national and international developers in connection with their development of new projects by assisting them in obtaining entitlements and by negotiating and preparing architect, construction and project management contracts. We also assist our clients in forming, structuring, capitalizing and documenting their ownership entities.
Financing and Workouts
We also collaborate with the firm's Finance and Workout Practice Group to assist our clients in financing their deals through acquisition, construction, mezzanine, bridge and permanent loans. We review and negotiate loan agreements, guaranties, intercreditor agreements and SNDAs and handle all facets of loan restructuring, ranging from forbearance agreements, loan modifications, judicial and non-judicial enforcement proceedings, deed-in-lieu agreements.
For more information, contact Leon Tuan.
Representative Matters
- Represented a developer in the $261,000,000 sale of most of the developer’s Northern California office portfolio to a major real estate investment trust. The portfolio consisted of 35 buildings containing over 1,375,000 rentable square feet.
- Represented one of the country's largest retailers in the acquisition and development of its retail projects in Northern California and the Central Valley. We negotiated purchase and sale agreements, ground leases, development agreements, CC&Rs and other project documents.
- Represented a developer in the public-private redevelopment of a neighborhood shopping center under a ground lease from the local redevelopment agency. We negotiated construction documents, construction loan documents and retail leases with major retail tenants.
- Represented a biopharmaceutical firm in connection with its sublease of more than 100,000 square feet of life/science space in San Francisco’s Mission Bay to be used as a medical research and biotechnical research facility with related office space.
- Represented a developer in the redevelopment and re-use of a 500,000 square foot industrial building that was part of a public-private partnership and that included commercial and industrial uses, residential live-work space, a museum and retail uses. The financing consisted of a combination of conventional construction financing, HUD financing, private equity and tax credits. The building is a registered historic landmark, which provided the opportunity to qualify for historic rehabilitation tax credits.
- Represented an institutional pension fund advisor with respect to all commercial properties that it manages for its various pension fund clients. We drafted and negotiated leases and lease amendments for approximately thirty office, industrial and retail properties throughout California and handled the day-to-day property management issues that arose in the context of tenant subleases and assignments, tenant defaults and tenant bankruptcies.
- Represented a developer in the construction of a new Class A office building and the integration of the new office building with an existing office building. We negotiated the architectural service contract, construction contract, lease termination and re-location agreements and construction loan documents. We advised the developer on the acquisition of transferable development rights and the application of those rights to the new office building.
- Represented a major technology company in its real estate leasing and subleasing and property acquisitions and dispositions throughout the country.
- Represented an institutional real estate investment advisor in conducting due diligence on the land use, planning and permitting aspects of a variety of multi-family projects. We reviewed zoning and planning codes and project approvals and investigated project status with city planning and building staff.
- Represented an international bank in a $40,000,000 construction loan work-out.
