Transactions to construct, develop, purchase, sell, or lease office, retail, industrial, or commercial property can be incredibly complex. The mix of financial, operational, and regulatory issues is unique for each project. Successfully completing these transactions requires attorneys with extensive knowledge in the real estate industry and the experience to shepherd 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 complex 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, and tenants—to provide practical advice on every aspect of the real estate industry, 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
  • Design professional agreements
  • Commercial leases
  • Operating agreements
  • Development agreements
  • Restrictive covenant agreements
  • Access agreements
  • Easement agreements
  • Title encumbrances
  • Environmental issues
  • Litigation
  • Condemnation
  • Insurance disputes

Experience

Acquisition and Disposition

  • Represented the seller of approximately 23,000 acres of land in Walker and Colorado Counties, 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 an online car dealership in the sale of properties in Texas, as well as in leasing and subleasing matters.
  • Represented a NYSE-listed energy and infrastructure company in its acquisition of 33 convenience stores from CHS Inc. for $70 million.
  • Represented financial institutions in connection with the acquisition and construction financing of several high-end condominium projects in Houston, Texas.
  • Represented financial institutions in connection with acquisition and construction loans for the development of several major retirement communities in the Houston area.
  • Represented a financial institution in the acquisition of Schlitterbahn, a major waterpark in Corpus Christi, Texas, through foreclosure proceedings. Porter Hedges also assisted in the renovation and rebranding of the park.
  • Represented a commercial real estate company in its acquisition of 750,000+ square feet of shopping center assets located in Indiana, Michigan, Ohio, and West Virginia.
  • Represented a commercial real estate company in its acquisition of Elk Grove Plaza, a retail center in Elk Grove, California, with 36,152 square feet of retail space situated on five parcels of land totaling approximately 3.6 acres.
  • Represented a car dealership in the sale of two Houston-area dealerships to John Eagle Automotive Group, one of the largest Texas-based private dealership groups.
  • Represented a developer in its acquisition of 39 acres in connection with a rehabilitation hospital in Pearland, Texas.
  • Represented a California corporation in connection with the acquisition of an $88 million condominium conversion project in Austin, Texas.
  • Represented a petroleum products company in the acquisition of 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 in the Houston area for the development of a petrochemical plant.
  • Represented a pipe supplier in connection with the simultaneous acquisition of two large steel companies which owned and leased properties throughout the United States.
  • Represented a buyer in connection with a $215 million acquisition of a major retail shopping center in Houston, Texas.
  • Represented a commercial real estate company in the acquisition of 500,000 square feet of rail-served industrial warehouse space on Holmes Road in Houston, Texas.
  • Represented the purchaser of an approximately 900 acre industrial site and water treatment facility in Harris County, Texas.
  • Represented the seller of a 100,000+ acre industrial property in Chambers County, Texas.

Development

  • Represented a development company in connection with the development and financing of several multi-family developments, including:
    • A 150-unit apartment project in Spring, Texas.
    • A 299-unit, 11-story luxury apartment project in Nashville, Tennessee.
    • A 9-building, 297-unit resident luxury apartment project in Richmond, Texas.
    • A 300-unit multi-family project in Baytown, Texas.
    • A student housing development near The University of North Texas and Texas Women’s University in Denton, Texas.
    • A 300-unit, Class A multi-family development (consisting of approximately 270,000 square feet of floor area) in Austin, Texas.
  • Represented a full-service commercial real estate firm as the developer of a Star Cinema Grill, a 45,000 square foot dine-in theater complex in Cypress, 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.
  • Represented a commercial real estate firm in the development of a build-to-suit emergency clinic and medical office building for Memorial Hermann, the largest not-for-profit healthcare system in Texas.
  • Represented a financial institution in a $55 million construction loan 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 a financial institution in connection with the acquisition and construction financing of high-end condominium projects in Houston, Texas.
  • Represented a regional bank as lender, administrative agent, sole lead arranger and sole bookrunner in connection with a $40 million syndicated loan 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 a financial institution in connection with an acquisition and construction loan for the development of major retirement communities in the Houston area.
  • Represented a real estate investment firm in the development of Northwest Park Crossing, a 4.2 acre mixed-use project that includes Hotel Bella, a 43-room hotel.

Finance

  • Represented a financial institution in the financing of an 84 acre purchase in Houston’s Energy Corridor. As one of the most significant land deals of 2018 according to various press reports, the site marketed contains retail, restaurant, and hotel projects.
  • Represented a financial institution in the $77 million financing of a 10-story mixed-use project in the Museum District of Houston, Texas.
  • Represented the lender in connection with financing the acquisition 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 a financial institution in a $55 million construction loan 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 a regional bank as lender, administrative agent, sole lead arranger and sole bookrunner in connection with a $40 million syndicated loan 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 a development company in connection with refinancing of a construction loan into an $85 million mezzanine loan and a $21 million mortgage loan.
  • Represented a regional 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 a financial institution 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 a mortgage lender 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.
  • Represented a regional bank in connection with renewal, modification and subsequent sale of note and liens to third-party purchasers of a major multi-use property located in Sugar Land, Texas.
  • Represented a financial institution in financing the acquisition of 23 acres to be used as an expansion for the Texas Medical Center in Houston, Texas, the largest medical complex in the world.
  • Represented a financial institution in financing for the $50+ million acquisition of the 15.57 acre Coca-Cola Bottling Distribution Center in Houston, Texas, to be redeveloped into a mixed-use development.
  • Represented a financial institution in financing the $60+ million acquisition of a former Chevron campus, a 30.5 acre, multi-building property in Bellaire, Texas.

Leasing

  • Represented a regional chain of dialysis clinics in leasing and construction of several new dialysis clinics.
  • Represented a commercial real estate group in several large retail leases, including leases with Family Dollar and Raising Canes.
  • Represented an online car dealership in the sale of properties in Texas, as well as in leasing and subleasing matters.
  • Represented a petroleum engineering company in a 73,000 square foot lease at Block 10 West Office Park in Houston, Texas.
  • Represented a full-service civil engineering firm in the lease of its new corporate headquarters at 6300 W. Loop S. in Bellaire, Texas.
  • Represented a wholesale maintenance supplier in the negotiation of an approximately 210,000 square foot build-to-suit industrial ground lease in Harris County, Texas.
  • Represented an electronic retail company in over 20 major big-box retail leases throughout the Southwestern and Southeastern USA.
  • Represented a publicly traded energy company in the negotiation of its 56,000 square foot office headquarters and industrial space in Monroe, New Jersey.
  • Represented a commercial real estate group in several large retail leases, including leases with Bank of America and Foot Locker and a 20,000 square foot Planet Fitness Gym space.
  • Represented a multi-national NYSE-listed energy company in sublease of approximately 156,161 square feet of office space.

Joint Ventures and Partnerships

  • Represent individuals, private equity funds, property management companies, and institutional investors in structuring, negotiating, and creating investment vehicles such as joint ventures, limited liability companies and partnerships to invest in real estate.

Litigation and Disputes

  • Represented a major privately-held company and its affiliates in the defense of fraud, breach of contract, and full recourse liability claims in connection with a CMBS loan, leading to five-week bench trial and directed verdict on all asserted claims and more than $30 million in alleged damages. Currently pursuing judgment on counterclaims and eventual appeal by Plaintiff. 
  • Represented a major student housing developer and property management company in defense of a lease dispute involving claims of fraud, contract, and declaratory relief, leading to injunction proceedings and the eventual removal of lis pendens in Brazos County, Texas. 
  • Represented commercial and residential buyers and sellers in a variety of disputes involving claims of fraud, DTPA, breach of contract, breach of warranty, and declaratory relief reflecting millions in asserted damages. 
  • Represented commercial real estate owner in the defense of lawsuits seeking Americans with Disabilities Act (“ADA”) claims. 
  • Represented an owner of a shopping center in jury trial regarding common area use and reimbursement agreements.

  • Represented a large property owner on claims of adverse possession and easements by use.

  • Represented various shopping center tenants in Houston, Texas in a trial regarding a highway expansion.

  • Represented a publicly traded company in claims related to the collapse of a retail building adjacent to property under development.
  • Represented the owner and developer of a hotel in claims against the general contractor, mechanical subcontractor, HVAC supplier, HVAC equipment manufacturer, HVAC component manufacturer, piping insulation manufacturer, and associated sureties arising from a defective and malfunctioning HVAC system.
  • Represented a landowner in a boundary dispute arising from the location of a fence between two properties.
  • Represented a commercial tenant in claims arising from an unlawful lockout and the landlord’s refusal to pay a tenant improvement allowance.
  • Represented an engineer and surveyor in claims regarding over clearing of trees and brush in connection with the installation of a new sewer line for a master planned community.
  • Represented a multifamily property developer in claims related to a subcontractor’s failure to pay for labor and materials furnished in connection with the construction of several multifamily properties.
  • Represented a commercial landlord in claims related to a tenant’s failure to pay for labor and materials furnished by construction contractors and related improper lien filings.
  • Represented a property owner in claims against the owner of an adjacent shopping center arising from damage to a retention pond and other drainage improvements caused by stormwater runoff.
  • Represented a property owner in claims against a railroad related to the improper modification of a culvert that caused flooding on the owner’s property. 

Tax Credit Finance

  • Represented a financial institution in connection with a construction loan for a 200-key DoubleTree Hotel in Boerne, Texas, involving county and city tax incentive agreements.
  • Represented a financial institution in connection with a tax credit finance transaction involving a hotel in New Orleans, Louisiana.
  • Represented a financial institution in connection with a historic tax credit conversion of an office building in downtown Houston into a major hotel.


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