Real Estate

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Overview

Our Clients

Katten finds creative and practical solutions for owners, lenders, developers, fund sponsors and investors in the acquisition, financing, leasing, operation, restructuring and disposition of all types of real estate in the United States and in international markets.

We assist domestic and international residential and commercial developers, investors and syndicators, as well as construction and permanent lenders, with structuring, negotiating and financing various development projects, such as retail, office, resorts and recreational properties, and sports complexes and arenas. Our financing work covers all asset types, from office, retail and hotel to industrial, residential and multifamily to resort and agricultural. Our lender clients include banks, insurance companies, mortgage companies, CMBS originators and CDOs that provide debt capital secured by real estate assets. In addition, the firm represents various lenders with respect to the whole loan sales securitization and servicing of such financings.

We are at the forefront of the growth of private equity for real estate, representing institutional real estate investors, including pension funds and their advisors, specialized real estate investment trusts (REITs), and funds. Our team provides comprehensive representation to active and passive investors in private equity arrangements. By representing both sponsors of, and investors in, real estate funds, we are able to provide unique insight on key deal terms and market trends.

Our Services

Katten has one of the largest and most sophisticated real estate practices in the United States, providing the legal advice, industry-focused experience and business savvy necessary for success in today's rapidly changing real estate and capital markets. Our integrated team of insolvency, tax, litigation, corporate, securities and public finance professionals provides a full range of transactional and dispute resolution services.

A leader in transactional real estate, we manage each transaction based on our understanding of our clients' business objectives, our knowledge of applicable laws and customs and our foresight into industry trends. Katten attorneys are experienced in all classes of debt financings, leasing, acquisitions, sales, development, fund formation, private equity and joint ventures, REIT formation, securitizations, cross-border transactions, recapitalizations, workouts and restructurings. Our familiarity with foreign legal requirements enables us to lead all types of international real estate transactions and financing, and to coordinate any US tax and regulatory compliance that may be necessary.

Katten's real estate litigators blend a broad knowledge of real estate law and business practice with well-honed skills in litigation and alternative dispute resolution. Our team counsels clients in many disparate areas, including finance, development and construction, landlord-tenant relations and brokerage, purchase and sale transactions, and governance and organization.

Experience
  • Lead real estate counsel to the Pritzker Family and Vi (formerly known as Classic Residence by Hyatt) in connection with Vi’s sale of its rental property portfolio to Senior Housing Properties Trust for a purchase price in excess of $450 million.
  • Representation of Citibank, N.A., as senior lender, in providing a construction loan to fund the acquisition and substantial rehabilitation of an affordable multifamily housing project for transitional housing owned by an affiliate of the community organization So Others Might Eat (SOME).
  • Representation of Morgans Hotel Group in the negotiation of a joint venture agreement for the acquisition and development of a to-be-constructed 128-room Mondrian hotel in the Old City of Istanbul, Turkey.
  • Representation of The CIM Group, Inc. in connection with the joint venture to acquire and develop a 12 million-square-foot mixed-use office, resort, retail and residential project.
  • Representation of Onni Group, a Vancouver, British Columbia-based privately owned real estate developer, in the acquisition and financing of 200 North LaSalle, a 645,170-square-foot office building in downtown Chicago.
  • Representation of Shorenstein Realty Investors Ten, L.P. in the acquisition of 350 West Mart, a 1.2-million-square-foot, two-building office complex located in the River North submarket of Chicago, Illinois.
  • Assistance to a client in connection with the foreclosure/resolution of a junior participation interest in an $86 million defaulted loan, secured by a full-service hotel, and related workout of the financing with which client acquired its interest.
  • Representation of a CMBS lender client in the origination of CMBS loans. A significant transaction included the refinancing of a portfolio of 181 bank branches located in nine different states, where the aggregate loan amount was $150 million.
  • Exclusive national counsel to General Electric's Business Property Group's sale of approximately $400 million+ REO properties and mortgage loans.
  • Representation of Bank of America, NA in the restructure of multiple loans to related borrowers. Drafted and negotiated multiple modifications and extensions.
  • Representation of FrankMon LLC, an entity owned indirectly by various trusts for the benefit of members of the Pritzker family, in connection with FrankMon's sale of the Hyatt Center in Chicago, Illinois. The Hyatt Center was acquired by the Irvine Companies, one of the pre-eminent real estate development companies in the United States. The Hyatt Center is a 48-story, 1.5 million-square-foot class A+ office building that is the world headquarters for Hyatt Corporation and the law firm Mayer Brown LLP, as well as regional headquarters for the Goldman Sachs Group, Inc. and RBS Citizens N.A. The Hyatt Center was developed by Pritzker Realty Group and Higgins Development Partners and was designed by Pei Cobb Freed & Partners. This was one of the two or three largest 2010 Chicago real estate transactions.
  • Representation of a lender on a $280 million mortgage loan, the proceeds of which were used to refinance the development and construction of a large office tower in downtown Chicago.
  • Representation of Tishman Speyer Properties in its purchase of 353 North Clark Street in Chicago, a new 45-story Class-A office building, one of the two or three largest 2010 Chicago real estate transactions.
  • Representation of a 13-lender syndicate that provided a $650 million corporate revolver to a public shopping center REIT. The facility is secured by three malls in Florida and Michigan.
  • Representation of a large commercial lender in an intercreditor dispute arising out of a $1.3 billion real estate transaction.
  • Representation of Fundamental Advisors in connection with the joint venture purchase of two senior housing projects out of bankruptcy.
  • Representation of Ivanhoe Cambridge and Callahan Capital Properties in the acquisition (and related acquisition debt financing) of 1095 Avenue of the Americas on Bryant Park, a 1.2-million-square-foot Manhattan office tower, for $2.2 billion.
  • Representation of Somerset Development, a company specializing in the revitalization of urban communities, in connection with a $21 million bridge loan to cover predevelopment expenses for a 366-unit mixed-use development at 14th and U Streets in Washington, DC.
UK Real Estate Litigation
  • Representation of insolvency practitioners in connection with the performance of their duties as receivers, liquidators and administrators, including representing liquidators in connection with the disposal of a residential development valued at more than £10 million and acting for liquidators on the sale of a mixed residential and marina complex.
  • Provision of advice in respect of judicial review proceedings, successfully recovering the cost of a planning enquiry from the local planning authority, advising developers in connection with the service of planning enforcement notices and acting for the employer in the numerous Jerram Falkus v. Fenice cases that were heard in the Technology and Construction Court between 2009 and 2011.
UK Real Estate
  • Representation of a UK investment fund in relation to all real estate matters for all UK and European property, including real estate contracts for the fund's Central and Eastern European properties portfolio.
  • Representation of a UK charity in connection with a rights of light dispute with a major, US private equity fund relating to a development in Chelsea valued at more than £50 million.
  • Representation of an Opco/Propco structure defending three simultaneous legal actions relating to the enforcement debt acquired by a major US private equity fund.
  • Representation of a US-based algorithmic trader in connection with taking premises in a city at an annual rent of £670,000.
  • Representation of Hackett, Hilfiger, Coach, Karl Lagerfeld and Calvin Klein in relation to all leasehold and freehold property matters, including flagship stores and headquarters premises.
  • Representation of Gannon Properties in relation to the purchase by a Development Securities PLC and Pears Group joint venture of Gannon's existing UK portfolio by way of a debt purchase from the National Asset Management Agency (NAMA) and the ongoing disposal and management work relating to the portfolio.
  • Representation of KOP Properties in the purchase of the Cranley Hotel, London.
  • Representation of an overseas bank in relation to various UK, European and Far East financings, including shopping centre financings in Bulgaria and residential financings in Hong Kong.
  • Representation of an offshore investor in the complex interrelated financing arrangements entered into simultaneously including:
    • ground lease (sale and leaseback) arrangements and senior refinancing in respect of a core brand Hilton Hotel;
    • senior and mezzanine development financing of a Hampton by Hilton Hotel; and
    • a purchase finance on a Central London hotel for redevelopment.
  • Representation of an offshore investor on a framework agreement relating to a hotel with a debt fund to facilitate the purchase of its existing debt from the National Asset Management Agency (NAMA) by the debt fund and the restructuring of joint venture structure together with the subsequent extension of the facility to acquire unsecured mezzanine debt in the structure.
  • Representation of a financial services business in relation to internal real estate and facilities management matters for all UK and European property, including its City of London offices.
  • Representation of an offshore investor in connection with the mezzanine financing of a large Central London office and retail portfolio.
  • Representation of an overseas bank in relation to various UK, European and US real estate financings, including hotel financings in Germany and the Netherlands.
  • Representation of hotel owner/operator in the development, financing and structuring work relating to a Hampton by Hilton development in Central London.
  • Representation of an offshore investor on the purchase of its own debt from Bank of Ireland by a hotel owner/operator through an offshore vehicle.
  • Representation of a hotel owner/operator on the refinancing of a regional City Centre hotel.
  • Representation of an international bank in relation to internal real estate and facilities management matters for all UK and European property, including real estate transactions at Canary Wharf.
  • Representation of a FTSE 100 occupational pension scheme in various investment acquisitions, including forward fundings of the development of an M&S Simply Foods unit and a retail park development at Monks Cross, York.
  • Representation of University College London in relation to development and investment property matters.
Professionals
Firm News
Articles
Advisories
Events
February 2–3, 2017
January 18–20, 2017
January 12, 2017
September 22–24, 2016
ACMA 2016 Annual Meeting | Newport Coast, California
July 20–24, 2016
April 13–14, 2016
April 7–8, 2016
April 4–5, 2016
February 4–5, 2016
January 28, 2016
January 20–22, 2016
September 27–29, 2015
May 7, 2015
April 9–10, 2015
Commercial Real Estate Financing 2015 | Practising Law Institute | Chicago, Illinois
February 5–6, 2015
January 26, 2015
September 18–20, 2014
2014 ACMA Annual Meeting | Bretton Woods, New Hampshire
May 1–2, 2014
Spring CLE Symposia | Chicago, Illinois
March 20–21, 2014
Commercial Real Estate Financing 2014 | Practising Law Institute | Chicago, Illinois
February 27, 2014
October 22, 2013
9th Annual Real Estate Short Course | Illinois Institute for Continuing Legal Education | Palatine, Illinois
September 18, 2013
Bridging the Capitalization Gap: My Loan Is Due, Now What Do I Do? – Preferred Equity, Mezzanine Financing and Second Mortgages | American Bar Association, Section of Real Property, Trusts and Estate Law eCLE | Webinar
September 16–17, 2013
June 20, 2013
May 2–3, 2013
24th Annual Spring CLE Symposia | American Bar Association, Section of Real Property, Trusts and Estate | Washington, DC
April 24–25, 2013
April 10, 2013
Today's CMBS Landscape | Chicago, Illinois
March 21–22, 2013
October 24–27, 2012
October 9, 2012
March 22–23, 2012
January 25, 2012
New Year's Networking Event | New York, New York
January 18, 2012
October 4, 2011
Benjamin S. Crocker Symposium 2011 | Los Angeles, California
April 11–12, 2011
March 24–25, 2011
January 26, 2011
September 23–24, 2010
September 21, 2010
ALI-ABA CLE | Webinar
September 20–21, 2010
May 13, 2010
Distressed Real Estate Summit | Chicago, Illinois
May 7, 2010
Real Property Young Lawyers Institute: Practice Essentials | American Bar Association, Section of Real Property, Trusts and Estate | Philadelphia, Pennsylvania
April 29, 2010
InterFace Carolinas | Charlotte, North Carolina
April 14, 2010
January 20, 2010
November 19, 2009
September 24–25, 2009
Commercial Real Estate Leases | Chicago, Illinois
May 18–19, 2009
April 29–May 1, 2009
20th Annual Spring Symposia | American Bar Association, Section of Real Property, Trusts and Estate | Washington, DC
April 9, 2009
February 9–10, 2009
Real Estate Tax Forum | New York, New York
January 22, 2009
November 17–18, 2008
September 23, 2008
June 26, 2008
May 13–16, 2008
May 2–3, 2008
Real Property Section Annual Meeting | Asheville, North Carolina
January 31–February 1, 2008
January 29, 2008
November 7-9, 2007
September 16-18, 2007
2007 Defeasance Conference | Colorado Springs, Colorado
May 21, 2007
ICSC Reception | Las Vegas, Nevada
April 17, 2007
Legal Opinion Risk Seminar | New York, New York
March 22–24, 2007
March 5-7, 2007
University of Shopping Centers | Philadelphia, Pennsylvania
February 15, 2007
February 4-7, 2007
October 5–7, 2006
September 18–19, 2006
June 12–14, 2006

Recognition

Real Estate (Charlotte), 2010, 2014
Real Estate (Illinois), 2006–2016
Real Estate (Nationwide), 2012–2016
Real Estate: Finance (North Carolina), 2012–2016

Finance Monthly Law Awards – Real Estate Law Firm of the Year – USA

2012

Finance Monthly Law Awards – Commercial Real Estate Law Firm of the Year – USA

2013

International Fund Awards – US Real Estate Law Firm of the Year

2013
Property Litigation, 2012, 2014
Real Estate – Commercial Property, 2012–2016
Real Estate – Commercial Property: Hotels and Leisure, 2013–2016
Real Estate and Construction – Real Estate, 2013–2016
Law Firm of the Year in Litigation – Real Estate, 2013, 2016
Law Firm of the Year in Real Estate, 2014
Litigation – Real Estate (Los Angeles), 2012
Litigation – Real Estate (National), 2012–2017
Litigation – Real Estate (New York), 2012–2017
Litigation – Real Estate (Washington, DC), 2012–2017
Real Estate Law (Charlotte), 2011–2017
Real Estate Law (Chicago), 2011–2017
Real Estate Law (Los Angeles), 2011–2017
Real Estate Law (National), 2011–2017
Real Estate Law (New York), 2011–2017
Real Estate Law (Washington, DC), 2011–2017
Real Estate – Team of the Year, 2014
Real Estate – Property Finance, 2015–2016
Real Estate: Lower Mid-Market (London (Firms)) 2016
Construction (including Construction Litigation), 2016
Real Estate – Commercial Property: Investment 2016
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Recognition

Real Estate (Charlotte), 2010, 2014
Real Estate (Illinois), 2006–2016
Real Estate (Nationwide), 2012–2016
Real Estate: Finance (North Carolina), 2012–2016

Finance Monthly Law Awards – Real Estate Law Firm of the Year – USA

2012

Finance Monthly Law Awards – Commercial Real Estate Law Firm of the Year – USA

2013

International Fund Awards – US Real Estate Law Firm of the Year

2013
Property Litigation, 2012, 2014
Real Estate – Commercial Property, 2012–2016
Real Estate – Commercial Property: Hotels and Leisure, 2013–2016
Real Estate and Construction – Real Estate, 2013–2016
Law Firm of the Year in Litigation – Real Estate, 2013, 2016
Law Firm of the Year in Real Estate, 2014
Litigation – Real Estate (Los Angeles), 2012
Litigation – Real Estate (National), 2012–2017
Litigation – Real Estate (New York), 2012–2017
Litigation – Real Estate (Washington, DC), 2012–2017
Real Estate Law (Charlotte), 2011–2017
Real Estate Law (Chicago), 2011–2017
Real Estate Law (Los Angeles), 2011–2017
Real Estate Law (National), 2011–2017
Real Estate Law (New York), 2011–2017
Real Estate Law (Washington, DC), 2011–2017
Real Estate – Team of the Year, 2014
Real Estate – Property Finance, 2015–2016
Real Estate: Lower Mid-Market (London (Firms)) 2016
Construction (including Construction Litigation), 2016
Real Estate – Commercial Property: Investment 2016

OUR CLIENTS SAY...

"They do such a wonderful job and can see around corners and anticipate issues before they come up, which is invaluable."

Chambers USA 2016
(Real Estate)

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