In addition to assisting clients in major building projects, Schiff Hardin also represents construction companies, architects, lenders, landlords, brokers and other creditors in construction insolvency proceedings. Combining the services of our Construction, Restructuring and Real Estate groups, we are able to develop creative strategies to achieve our client’s objectives and maximize recoveries.
As in all industries, interested parties may have competing interests, requiring a unique perspective. Our extensive work with parties across the real estate industry has given us an appreciation for all such perspectives. Notable representations include:
- Pasquinelli Homebuilding LLC – Representing of the chapter 7 trustee in the liquidation of a national homebuilder, including fraudulent transfer and breach of fiduciary duty litigation against insiders of the debtor
- NVS Liquidating Company, Inc. et al. – Represented the Official Unsecured Creditors Committee in the chapter 11 filing of an insolvent contractor, establishing an innovative arrangement to resolve mechanics’ lien claims and property owners’ defenses to the payment of accounts receivable.
- Shelbourne North Water Street, L.P. – Represented architectural firm in connection with the chapter 11 case of involving the Chicago Spire.
Real Estate Development and Finance
Schiff Hardin offers the full range of legal services to developers, investors, publicly held companies, privately owned businesses, public and private REITs, educational institutions, nonprofits and lenders. But we also go beyond the traditional areas of real estate services, offering cutting-edge counsel in real estate-backed securities, syndications, 1031 exchanges and other investment vehicles. We also have significant experience assisting both borrowers and lenders with a wide range of financing tools, such as sale and leaseback transactions, synthetic leases, and joint venture interests.
- Real estate development: We have particular depth in assisting clients with real estate development projects, both commercial and residential, including transfers of development rights, bulk sales of cooperative share and condo units and pre-construction work such as site acquisition, financing, and sales disclosures and continuing through planning, design, construction and post-construction matters.
- Real estate finance: Our attorneys assist clients with complex types of financing including mortgage and mezzanine transactions as well as the restructuring of real estate financing in default, condominium conversions, and leasing and subleasing. We advise on deal structure, drafting and negotiating documentation, and we counsel clients in the formation and implementation of joint ventures and strategic alliances. We also work with governments to obtain necessary approvals and, where appropriate, various types of public funding.
We help solve environmental problems that owners, developers and lenders face in construction projects, ranging from small mixed use development projects to coal-fired power plants. Our experience includes:
- Environmental permitting for modification of existing and construction of new power facilities and co-generation projects.
- Environmental permitting for gas pipeline construction and expansion projects.
- Counseling a public-private partnership in evaluating competing sites for a first-of-a-kind coal-fueled, near-zero emissions power plant utilizing carbon sequestration.
- Assisting developers in rehabilitating environmentally-challenged real estate.
- Assisting owners with other significant remediation redevelopment projects involving Brownfields sites throughout the United States.
- Advising financial institutions on the environmental issues impacting properties in default or foreclosure.
- Assessing the environmental condition of collateral and developing strategies to minimize potential environmental liabilities.
- Advising on evolving building codes and policies such as “green building,” energy efficiency, or sustainable design/construction programs and protocols.