Real Estate

Prince, Lobel, Glovsky & Tye's Real Estate Practice Group provides businesslike, sophisticated service in all areas of commercial real estate development, ownership and financing. The attorneys in the practice group take pride in effective negotiating and case management to provide first-class service which focuses on completing a transaction as expeditiously and cost-effectively as possible. Our clients include developers, investors, REITs, institutional lenders, and commercial and retail landlords and tenants.

Members of the Real Estate Practice Group have extensive experience in the full range of commercial real estate transactions, including the sale, purchase and financing of office buildings, shopping centers, hotels, golf course development and residential projects. Our real estate attorneys also regularly work with our corporate and tax attorneys to negotiate joint venture agreements and agreements with equity investors.

Prince Lobel’s real estate practice includes a large leasing component -- we represent landlords and tenants in lease negotiations and preparation of lease forms for retail, office and industrial projects. Members of the Real Estate Practice Group are especially active in representing quick-service and casual dining restaurant chains, and in the shopping center industry, with extensive experience representing anchor tenants, users of pad or outparcel locations and in-line tenants.

The Real Estate Practice Group includes attorneys with day-to-day experience in zoning and permitting matters, including public hearings and, if necessary, litigation and administrative proceedings related to appeals. We regularly counsel clients in assessing the impact of federal, state and local regulations on their real estate development projects. This area of our practice includes advice relating to hazardous waste regulation and remediation, and environmental permitting.

While our Real Estate Practice Group stays current in the latest developments affecting commercial real estate, the group also offers the full range of traditional real estate services – members of the group are experienced in condominium law, issues relating to land titles, Land Court practice, liens, subdivisions and mortgage foreclosures.

For more information on Prince Lobel’s real estate practice, please contact Group Chair Craig Tateronis at ctateronis@PrinceLobel.com or 617.456.8021.

Representative Matters

Prince, Lobel, Glovsky & Tye’s Real Estate Group counsels clients on real estate and environmental issues involving the development, ownership and financing of commercial real estate of all types. Many of our real estate clients depend upon us for regular representation, so members of the Real Estate group become integral parts of the client’s team and handle a wide range of transactions nationwide.

Representative cases handled by our attorneys include:

Sales and Acquisitions

Representation of seller of a 285,000 square foot single-tenant office building to an institutional purchaser, including negotiation of purchase and sale agreement, closing, and negotiations with tenant holding a right of first refusal.
Representation of seller/lessee in sale – lease back transactions with institutional funds for corporate headquarters buildings in Needham and Waltham, Massachusetts and Atlanta, Georgia.
Representation of purchasers of 102,000 square foot office park, 163,000 square foot office building and 83,000 square foot office building, in each case including negotiation of purchase and sale agreement, due diligence, review and abstract of leases and negotiation and closing of purchase money mortgage with life insurance company lender.
Representation of seller in connection with the sale of a 39 unit, three-building apartment complex in Lawrence, Massachusetts.
Representation of purchaser of a 60 unit, four-building apartment complex in Boston, MA.
Representation of sellers of 150,000 square foot retail shopping center, including negotiation of purchase and sale agreement, negotiation of tenant and estoppels, and negotiation of wastewater treatment facility escrow.

Financings/Joint Ventures

Regular nationwide representation of equity investment funds (more than $300 million in investments in 2007), including due diligence review of leases and operating statements for conformity with pro-forma, as well as title, survey, environmental and permitting matters, and negotiation of joint venture agreements and operating agreements on behalf of investment funds.
Representation of borrowers in mortgage loans secured by shopping centers and suburban and downtown office buildings with conduit lenders, life insurance companies and commercial banks.
Negotiation of joint venture agreement on behalf of partner for development of $500 million retail project.
Representation of joint venture partner in troubled $150 million development project in restructuring of joint venture.
Representation of casual dining restaurant in connection with their mid-Atlantic expansion (20 restaurants) and multiple sale-leaseback transactions
Representation of “big box” anchor tenant throughout the East Coast in shopping center leases and in purchase of sites in shopping centers, including preparation and negotiation of cross-easement agreements, development agreements and commercial condominium documents.
Representation of ground lease tenant of brownfield site for redevelopment.
Representation of major tenant in lease of 11 floors in downtown office tower, including landlord-funded build out and options for expansion.
Representation of landlord in lease default and lease restructuring for a single tenant 46,000 square foot office building, including litigation and related negotiations with the institutional lender.
Regular representation of a leading Metro-west building owner/landlord in office leasing for transactions of all sizes
Representation of Landlord in lease of 100,000 square foot office/R&D/lab space with provision for multi-million dollar work allowance

Zoning and Permitting

Regular appearances before local boards on variances, special permits and wetlands issues. Appeals as necessary with Prince Lobel's Litigation Group.
Negotiation of Consent Order with Department of Environmental Protection for private wastewater treatment plant.