Real Estate Tax

Matters

Represented an institutional asset management firm in the restructuring of a number of its Qualified Opportunity Zone investments in order to reallocate some funds in their various projects in order to help support a $90 million mixed use project that was struggling. Polsinelli helped accomplish the restructuring in a manner that preserved the Qualified Opportunity Zone benefits status of all investments involved.
Represented a leading private equity firm focused on alternative investments as sponsor in connection with the establishment of a structure involving a REIT that will acquire approximately $1 billion of medical office buildings. Tax issues involved ensuring that the REIT meets all the technical qualifications of a REIT as well as other issues in connection with the structure.
Provide state tax advice to an NFL team in relation to stadium improvements for the upcoming FIFA World Cup soccer tournament.
Represent a commercial real estate-based, process management company with respect to its acquisition, development and subsequent sale of outparcel buildings (restaurants, stores and gas stations). Polsinelli assists with over 50 purchases each year with purchase/sale prices ranging between $2 million and $11 million. The tax group reviewed the tax structure for each investment (especially with respect to the expensing of gas station projects) and ensured that the operating agreements were properly drafted from a tax perspective.
Represented a real estate development company in updating the tax structuring of a $50 million project for the acquisition and development of 88 acres of land located in Georgia. In addition to providing tax advice on the acquisition of the property, the tax group helped re-structure the project into three separate phases that are each individually eligible for the investors to obtain Qualified Opportunity Zone tax benefits.
Represented an independent, entrepreneurial private investment firm focused on building businesses and investing in real estate assets in tax matters related to the development of a 154,000-square-foot office building that the U.S. government has an option to acquire for nearly $200 million.
Represented a property management company in the full-scale overhaul of a hotel and the addition of infrastructure and amenities to restore the property. The tax group helped structure the project so that it is eligible for Qualified Opportunity Zone tax treatment.
Assisted a large academic health system with property tax questions, including questions related to building a new football stadium.
Represent an internally-managed commercial real estate credit REIT in a broad range of complex real estate finance matters involving distressed and value-add assets across the country, including the modification and resolution of approximately 50 mortgage loans nationwide, with a total value exceeding $1 billion. This work includes loan workouts, distressed sales and enforcement of remedies.
Represent a commercial real estate credit REIT on the modification of three loans totaling over $140 million, enabling the conversion of ownership to a ground lease and joint venture with a housing finance corporation to achieve full property tax abatement.
Represent a vertically integrated real estate investment firm in leasing and property tax matters for its 20-property light industrial portfolio in Colorado, valued at $10 million.
Advised a CMBS lender on a $185 million collateral alteration involving a luxury hotel held across multiple securitizations, including negotiation of revised franchise and license agreements and coordination with companion noteholders and rating agencies. Provided REMIC-compliance analysis critical to preserving the transaction’s tax-advantaged trust structure. [Jennifer O’Connor, CMBS Loan Servicer]
Represented an alternative energy investor in a rescue capital investment tied to a $150 million joint venture for a natural gas-powered data center in Southern Georgia utilizing microgrid technology. Also advised on construction matters and a $10 billion phantom bond tax abatement supporting an $8 billion data center development.
Represented a lender group in a $50 million mortgage loan secured by data center development sites in Georgia for a regional digital infrastructure provider, including negotiation of a subordination agreement with corporate facility lenders. The transaction also involved a $900 million Georgia-specific phantom bond tax abatement supporting hyperscale data center construction.
Represented a manufacturing company in connection with a $40 million Chapter 100 bond issuance to support equipment acquisition for a new Missouri facility, securing a 16-year personal property tax exemption. Also advised on obtaining Missouri Works tax incentives from the state.