Real Estate Acquisitions and Sales
Representing buyers and sellers in the purchase and sale of real estate, section attorneys provide innovative guidance and assistance to our clients necessary to close transactions in a cost-effective manner. We represent local, regional and national clients in a wide range of real estate acquisitions and sales transactions, including the acquisition and sale of shopping centers, raw land, office buildings, warehouse and industrial facilities and mixed-use projects, as well as section 1031 like-kind exchanges and the exchange of tenant-in-common interests. Our clients benefit from one of the largest and most diverse real estate practices in Virginia and include publicly traded companies, developers, financial institutions, real estate investment trusts, individuals and not-for-profit organizations.
Experience
- Represented owner of NASCAR raceway in the sale of its facility for $215 million. Representation included expansion properties, and amendments to the applicable Master Plan and the county zoning ordinance, to allow the increase in seating from 102,000 seats to 150,000 seats.
- Coordinated the closing of 44 Class “A” office buildings from multiple sellers, all on the same day, for a publicly traded REIT using the REIT’s initial offering proceeds. The transaction involved a series of escrowed closings, completed simultaneously.
- Represented publicly traded national developer in the acquisition of an 11-office building portfolio in excess of $100,000,000 for investment purposes and syndicated financing.
- Represented developer with land assemblage, rezoning and sale of 95 acres to a major pharmaceutical company in connection with a 600,000-square-foot, $425 million insulin- manufacturing facility at Innovation, Prince William County, Virginia. This project is among the top 10 largest economic development investments in the Commonwealth’s history.
- Represented a public waste company in the acquisition of 29 separate parcels of real property consisting of approximately 2,200 acres, and other assets and property in California. Representation included the coordination and review of title, survey and other due diligence items, the negotiation of stock and asset purchase agreements, leases and closing documents. The total purchase price was approximately $190 million.
- Represented golf course owner/developer in connection with the acquisition and operation of golf courses at The Crossings, Royal New Kent, Stonehouse, Kiskiack and Broad Bay, Virginia.
- Represented developer of North Pointe in Albemarle County, Virginia. The project includes 900 residences (single- family homes, townhouses, condominiums and apartments) and 700,000 square feet of retail and office space. An elementary school, library, assisted living center and two hotels are planned.
