Chapman and Cutler LLP’s Real Estate Finance Group is comprised of attorneys from our Banking, Corporate Finance and Corporate and Securities Departments who have significant real estate transaction experience.

The firm’s real estate practice regularly includes the following: acquisition and disposition of real estate assets; construction mortgage finance; permanent mortgage finance; revolving credit facilities secured by real estate assets; credit tenant lease and synthetic lease transactions; securitizations; subscription financings; acquisitions and dispositions of mortgage portfolios; indirect investing in real estate assets through purchases of ownership interests in real estate vehicles such as partnerships, limited liability companies and REITS, and commercial, industrial and office leasing.

Chapman and Cutler’s representation of buyers and sellers of commercial, industrial, retail and multifamily residential real estate has involved projects of all kinds, including office buildings, warehouse facilities and apartment projects. Often acquisitions and sales are structured as transfers of the ownership interests in the entities that own the real estate project. The Real Estate Finance Group is experienced in structuring and documenting these “indirect” types of acquisition and sales transactions.

Our clients include banks, insurance companies, other institutional lenders and the finance arms of major conglomerates, in their capacity as both lenders and investors. Representative transaction structures and property types include financing multiple-site and multiple-state properties of entities such as major hotel and motel chains, developers of retirement communities, assisted living communities and hospitals and large self-storage enterprises.

The Real Estate Finance Group is experienced in the acquisition and disposition of single mortgage loans and mortgage loan portfolios. One assignment involved the sale of over one hundred twenty defaulted mortgage loans with a purchase price in excess of $500 million covering properties in more than twenty states.

We also represent lenders in "project finance" transactions. Such projects have included railroad intermodal facilities, hydroelectric plants, and aluminum casting and steel mills.

The firm also regularly represents banks, insurance companies and funds in various types of mezzanine financings related to real estate assets.

We have assisted our clients in a variety of asset management and portfolio management projects, including preparation and negotiation of property management and operating agreements. One assignment involved the preparation of operating agreements and easement agreements relating to the sharing and separation of certain infrastructure shared by two different owners of adjacent downtown Chicago office buildings.

Chapman and Cutler attorneys also have extensive experience in workouts and restructurings of non-performing real estate financings. Real estate attorneys frequently work closely with the firm’s bankruptcy and litigation attorneys in these matters. This interdepartmental approach allows the most efficient use of time and experience. The team approach also assures continuity throughout all stages of the workout. The types of projects involved in these restructurings include multifamily housing, singlefamily subdivisions, shopping centers, office buildings, hotel and motel facilities, land developments, industrial parks and other projects, as well as investment portfolios.

Over the last several years, Chapman has begun to forge a specialty in environmentally sensitive practices, from representing clients in the remediation and redevelopment of contaminated industrial sites to advising clients on open space, re-use of materials and “green” building requirements, to offering advice on prudent contract language for “green” building-related activities.

Representative Transactions

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