
MELVILLE LAW
Commercial Real Estate - Land Use - Development
Florida - Massachusetts
-Represented developer in adaptive reuse of a portion of Manchester, New Hampshire's historic mill yard, a burgeoning education and tech hub, for credit tenant Southern New Hampshire University. The project included two components: (i) constructing a new, built-to suit parking garage consisting of 1,700 spaces on a former surface parking lot; and (ii) repurposing the adjacent mill building into administrative offices for the university. Associated transactions included closing the $8mm purchase of the land and mill building, negotiating and documenting two separate, bondable net leases for the garage and mill building respectively, closing a $60mm construction loan from an institutional credit-tenant lender for garage construction, and creating an air rights parcel for the garage, all in time for construction commencement at the beginning of the spring thaw.
-Currently representing developer in a public-private partnership with the City of Kannapolis, North Carolina for multi-phased, mixed use and adaptive reuse development of several parcels in the City's historic downtown, where the former Canon Mill is now a growing health education and tech hub. This representation includes negotiating and documenting the development agreement, purchase of the various parcels of land from city and all commercial leases connected to the project. Also represented developer in negotiating and documenting various financing vehicles over the various Kannapolis project components, including a $58mm opportunity zone equity agreement with a global investment banking firm.
-Currently representing developer in a public-private partnership with the City of Concord, North Carolina for redevelopment of three parcels in the City's historic downtown.
-Represented developer in public-private partnership with City of Gastonia, North Carolina to redevelop the historic Trenton Mill. Associated transactions and matters included applying for and receiving local and federal historic designation and closing a historic tax credit, construction financing vehicle.
-Represented purchaser, a Broward County-based, emerging beverage company, in its purchase of multi-phase, Class A industrial development in Broward County, Florida totaling $110mm. Later represented the company in purchase of a $41mm property in Georgia, while also closing a $184mm refinance of the company's entire real estate portfolio as part of a $500mm syndication loan. This refinance was also closed in coordination with a $259mm economic development bond issuance connected to one of the properties.
-Ongoing representation of several clients with single tenant net lease portfolios involving various types of credit-rated tenants, usually traded in 1031 exchange transactions.
-Represented equity real estate investor in its side of the acquisition, ownership and development entity for several diverse assets, including a boutique office building in downtown West Palm Beach, a net-leased, mission critical aerospace facility in Huntsville, Alabama and a three-state portfolio of development sites for Top Golf.