Transactions to construct, develop, buy, sell, or lease office, retail, industrial, or commercial spaces can be incredibly complex. The mix of financial, operational, and even regulatory issues is unique for each project. Successfully completing these transactions requires attorneys who know the real estate industry and have the experience to shepherd these complex transactions from negotiation to completion. The diversity of our clients and projects is as broad as the industry.

Porter Hedges attorneys have successfully completed all types of commercial real estate transactions, including development of high-rise condominiums, apartment complexes, office buildings, residential subdivisions, retail shopping centers, industrial complexes, hotels, golf courses, mixed use developments, deepwater facilities, and developments on leasehold estates. We negotiate leases on behalf of landlords and tenants in shopping centers, medical office buildings, office buildings, and business and industrial parks. We work with all the participants—domestic and foreign developers, investors, lenders, owners, tenants, clients—to provide practical advice on every aspect of real estate projects, including:

  • Pre-development planning and due diligence
  • Entity selection and structure
  • All aspects of project financing
  • Deal structures
  • Tax planning
  • Lease agreements
  • Acquisitions and sales of improved and unimproved properties
  • Construction contracts
  • Commercial leases
  • Operating agreements
  • Restrictive covenant agreements
  • Title encumbrances
  • Environmental liability
  • Litigation
  • Public communication

Experience

Development

  • Represented Guefen Development Company in development and financing of Haven at Tech Ridge, a new 300-unit, Class A multi-family development (consisting of approximately 270,000 square feet of floor area) in Austin, Texas.
  • Represented a syndicate of international investors in the acquisition and development of two large residential subdivision projects in Texas; a 67 acre lot in Magnolia, Texas, and a 105 acre lot in The Woodlands, Texas.
  • Represented a regional chain of dialysis clinics in leasing and construction of several new dialysis clinics in the past year.
  • Represented Pipeline Realty in multiple acquisitions of retail and office properties in Houston, Texas, in the development and leasing, and the restructuring and financing of their office and retail property portfolio.
  • Represented International Bank of Commerce in the financing of the Katy Village LP and Katy Village Investments LP 84 Acre Purchase in Houston’s Energy Corridor. As one most significant land deals of 2018 according to various press reports, the site is marketed as The Village at Katy will include retail, restaurant, and hotel projects.
  • Represented American Realty Group in several large retail leases, including leases with Family Dollar and Raising Canes.
  • Represented Vroom, Inc. in the sale of properties in Fort Worth and Houston, Texas, as well as in leasing and subleasing matters.
  • Represented Par Pacific Holdings in its acquisition of 33 Cenex® Zip Trip convenience stores from CHS Inc. for total consideration of $70 million plus the agreed value of inventory.
  • Represented an energy company in due diligence for all issues related to real estate rights for the acquisition of a large refinery in Louisiana.

Finance

  • Represented International Bank of Commerce in a $50 million financing for the development and construction of Mid Main, a planned mixed-use development in Midtown Houston containing apartments, shops, restaurants, and parking garages.
  • Represented the lender in connection with the financing of a 10,897 acre industrial park near Houston, Texas. This transaction was one of the largest land sales in the history of the Houston area. Two years later, Porter Hedges represented the lender in restructuring the loan for an additional 371 acres adjacent to the park.
  • Represented International Bank of Commerce in a $55 million construction loan to TCH Altera AHCC, LLC (an affiliate of Altera Development), for the construction and development of a 300-room Delta Hotel (a Marriott brand) and 90,000 square feet of convention and meeting space, to be known as the Watters Creek Convention Center.
  • Represented International Bank of Commerce in connection with the acquisition and construction financing of a high-end condominium project in Houston, Texas known as The Sophie.
  • Represented Compass Bank as lender, administrative agent, sole lead arranger and sole bookrunner in connection with a $40 million syndicated loan to Ironhorse Franklin Apartments, LLC (an affiliate of Embrey Partners, Ltd.) to finance the construction of a new 270 apartment, Class A multi-family development (containing approximately 348,000 square feet of floor area in 15 buildings) outside of Nashville, Tennessee.
  • Represented Guefen Development Company (and affiliate, Haven at Main Street, LP) in connection with refinancing of construction loan into $8.5 million mezzanine loan and $21 million mortgage loan with SM Finance LLC (an affiliate of Square Mile Capital).
  • Represented BancorpSouth Bank in connection with renewal and restructure of a $30 million loan secured by real property in Houston, Texas for future development of a retail power center.
  • Represented International Bank of Commerce in connection with a construction loan for a 165 key dual brand hotel under Springfield Suites and Fairfield Inn Marriott flags located in Fort Worth, Texas.
  • Represented International Bank of Commerce in connection with an acquisition and construction loan for the development of a major retirement community in Kingwood, Texas.
  • Represented International Bank of Commerce in connection with the construction loan for a downtown 200 key AC Hotel by Marriott further involving federal, state, and city historical tax credits.
  • Represented International Bank of Commerce in connection with a construction loan for a 200 key DoubleTree hotel in Boerne, Texas, involving county and city tax incentive agreements.
  • Represented First Continental in the lending of over $125 million to various single family developers for lot/subdivision development loans in Texas, Colorado, Arizona, Georgia, Illinois, North Carolina, South Carolina, Florida and Alabama.

Lease

  • Represented WD Von Gonten & Co., a petroleum engineering company, in a 73,000 square foot least at Block 10 West Office Park in Houston, Texas.
  • Represented Jones & Carter on the lease of its new corporate headquarters at 6300 W. Loop S. in Bellaire, Texas.
  • Represented the tenant in the negotiation of an approximately 210,000 sq. ft. build to suit industrial ground lease in Harris County, Houston, Texas.
  • Advised client regarding lease of 20,000 square foot Planet Fitness gym space in Houston, Texas.
  • Represented Conn’s Inc. in over twenty major big box retail leases throughout the Southwestern and Southeastern USA.
  • Represented Dialyspa, a regional chain of dialysis clinics, in leasing and construction of several new dialysis clinics.
  • Represented Ocean Power Technologies, a publicly traded energy company, in the negotiation of its 56,000 square foot office headquarters and industrial space in Monroe, New Jersey.

Acquisitions and Dispositions

  • Represented Fred Haas Interests as co-owners of Fisher-Haas Infiniti, Inc. and Clear Lake Infiniti, LP in the sale of both Houston-area dealerships to John Eagle Automotive Group.
  • Represented a regional developer in the acquisition and development of approximately 34.229 acres of land adjacent to and surrounding land to be developed as a grocery store.
  • Represented the Reserve at Shadow Creek Ranch and NewQuest Crosswell in its acquisition of 39 acres and negotiation with HealthSouth Corp. on the plan to build a rehabilitation hospital in Pearland, Texas. Subsequent to completion, Porter Hedges represented the seller of the HealthSouth building and continues to represent the developer/owner of the balance of the property with purchase and sale agreements covering a 9 acre tract to a multi-family development and a tract to a national retailer.
  • Represented BancorpSouth Bank in connection with renewal, modification and subsequent sale of note and liens by BancorpSouth Bank to third-party purchasers of a major multi-use property located in Sugar Land, Texas.
  • Represented a California corporation in connection with the acquisition of an $88 million condominium conversion in Austin, Texas.
  • Represented Augusta Real Estate Partners in formation, corporate structure, and private offering matters, as well as with the acquisition and financing (Fannie Mae) of two stabilized Class-B/C multi-family assets in the Houston, Texas area, such assets containing 387 total apartments.
  • Represented Landmark Industries, Ltd. in the acquisition several raw land sites for construction of convenience stores and the acquisition of approximately 104 acres of raw land and subsequent sale and development of different portions thereof.
  • Represented the seller in the disposition of 75.9 acres on Sens Road near Texas 225 and Texas 146 in LaPorte, Texas.


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