Real Estate Development & Finance
Apartments, condominiums, shopping centers, mixed-use projects, office buildings, hotels, industrial properties and golf course communities: our real estate lawyers have extensive experience handling sophisticated transactions for both domestic and non-U.S. clients involving all kinds of real estate assets. We regularly help both individual and institutional clients with the negotiation and structuring of equity joint ventures, and with the formation of limited-liability companies and general and limited partnerships.
From project inception to completion, developers and owner/operators including Ultima Holdings, The Muntzing Sattele Company, and ABG Development trust Stites & Harbison to stay on top of legal details including planning, acquisition, financing, construction, leasing, contract negotiation, and negotiating easements and access rights for a variety of properties.
Examples include:
- Handling purchasing and refinancing matters for five shopping centers developed by one of its clients
- Working closely with another client in developing rural land into booming residential subdivisions
- We have also helped clients form equity joint ventures for developing vertical mixed-use projects in several states. The projects ranged in value from $25 million to $85 million each.
- In another instance, our firm handled the $150 million purchase of 40 apartment complexes throughout the country on behalf of a public company, while at the same time helping a residential developer put together six tracts involving more than 20 legal descriptions for a mixed-use development of mid-priced homes for working families.
The real estate attorneys in our firm's Lexington office have helped several clients realize innovative mixed-use development projects throughout central Kentucky. Many of these are communities developed around golf courses, which incorporate the conservation of scenic land.
Other real estate deals the firm has handled include:
- Retail and shopping centers
- Airports
- Low-income and multi-family housing developments
- Multi-use developments
- Office buildings
- Business and industrial parks
- Golf resort communities
- Residential developments, including single family homes
- Specialty properties such as hotels, mobile home parks and mini-storage warehouses
Lenders and borrowers count on Stites & Harbison to represent them in matters like mezzanine and mortgage financing, debt instrument conversion, joint ventures, and other arrangements. Our attorneys serve pension funds, institutional advisors, credit companies, insurance companies, and individuals.
Along with the traditional tasks of due diligence and document preparation, our real estate attorneys and paralegals "get the deal done" by taking a proactive approach to ensure that every detail is covered so the deal does not stall. We will never present a problem to a client without solutions in hand.
Stites & Harbison Welcomes John Weber
LOUISVILLE, Ky.—Stites & Harbison, PLLC welcomes attorney John Weber to the firm’s Louisville, Ky., office.
The Tennessee COVID-19 Recovery Act
On August 12, 2020, the Tennessee General Assembly passed the COVID-19 Recovery Act (the “Act”), which was enacted into law by Governor Bill Lee’s signature on August 17, 2020.
GSEs Announce New Fee for Consumer Residential Loan Refinances: Lenders Brace for Added Costs and Potential Compliance Concerns
On August 12, 2020, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) delivered a harsh blow to lenders and consumers in the residential mortgage market when they announced they would impose a .5% fee (i.e., a 1/2 “point” in mortgage finance parlance) on refinance mortgages purchased by Fannie Mae and Freddie Mac after September 1, 2020.
PPP Loan Application Extension Signed Into Law As Congress and White House Debate Repurposing of Funds
On Saturday, July 4, 2020, following a surprise vote by the U.S. Senate earlier in the week and quick passage in the House of Representatives, a bill extending the Paycheck Protection Program (“PPP”) loan application deadline from June 30, 2020 to August 8, 2020 was signed into law by the President. However, with a recently reported $130 billion out of the $669 billion in total funding allocated to this stimulus program still unspent, policymakers in Washington are considering whether these monies should be repurposed.
CARES Act – Relief for Small Businesses
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the “CARES Act” or “Act”) passed and was signed – it is the largest economic aid package in United States history.
COVID-19: Focus on the Impact on Commercial Leases
The outbreak of coronavirus disease (COVID-19) has and will continue to significantly disrupt commercial tenants and landlords, especially in the retail, restaurant and hospitality industries. As COVID-19 continues to spread, commercial tenants and landlords will encounter challenges in meeting contractual obligations due to the fluid nature of the outbreak and government responses to the same.
Dan Douglass and Bill Joseph Recognized in 2020 Georgia Super Lawyers
ATLANTA—Stites & Harbison, PLLC attorneys Dan Douglass and Bill Joseph were recently honored in the 2020 Georgia Super Lawyers magazine.
Tom Breidenstein named to Cincy Leading Lawyers 2020
COVINGTON, Ky.—Cincy Magazine has named Stites & Harbison, PLLC attorney Tom Breidenstein to its list of Cincy Leading Lawyers 2020 for zoning.
Northern Kentucky Chamber of Commerce honors Allyson True Cook with Spirit of Achievement Award
COVINGTON, Ky.—The Northern Kentucky Chamber of Commerce has announced that Stites & Harbison, PLLC attorney Allyson True Cook is the recipient of the seventh annual Debbie Simpson Spirit of Achievement Award.
Bill Joseph recognized in Georgia Trend's 2019 Legal Elite
ATLANTA—Georgia Trend magazine has selected Stites & Harbison, PLLC attorney William M. (Bill) Joseph as one of its 2019 Legal Elite. This is the sixth time Joseph has earned the Legal Elite honor.
Stites & Harbison welcomes five attorneys
LOUISVILLE, Ky.—Stites & Harbison, PLLC announces the addition of five attorneys to the firm. Three are based in the Louisville, Ky., office; one is based in the Lexington, Ky., office; and one is based in the Nashville, Tenn., office.