Real Estate Transactions & Commercial Development
Comprehensive & Fully Integrated Service
Our team of professionals is at the ready to help clients maximize real estate opportunities, whether portfolio transactions or deals involving a single property. Our attorneys are well versed in key areas, such as acquisitions, sales, leasing, financing, zoning, land use, and construction. We bring a multifaceted perspective to each real estate opportunity and help to identify and address risks and develop practical strategies to meet clients’ needs.
Experience
Strategic. Consistent. Spirited.
- Representing clients in property acquisitions, including working with lenders, verifying clear title will be provided, and assisting clients in obtaining title insurance.
- Representing clients in the sales of commercial and residential properties, resolving any encumbrances on title issues.
- Review and analysis of property lease agreements to ensure the best interests of our clients are met.
- Assisting clients throughout the commercial and residential loan refinancing process.
- Creating Joint Ventures to enable clients to undertake real estate projects.
- Assisting clients with obtaining and structuring financing for development needs.
- Representation in connection with loan workouts, foreclosures, and bankruptcy sales.
- Obtaining governmental approvals and permits for development, including zoning and land use matters.
- Advising Hospitality Industry (Hotels/Motels/Restaurants) in all aspects of development and operation including acquisition, leasing, financing, and permitting.
- Representing parties in Public/Private Development Partnerships for various large scale real estate projects such as downtown redevelopment.
- The creation and administration of Condominiums Homeowner’s Associations including all necessary filing and advice relative to the development of projects utilizing such forms of ownership.
- Preparing, negotiating, and enforcing contractor’s, architects’, and engineer’s agreement as well as navigating disputes among such professionals and owners.
What’s Trending?
- COVID-19 left the housing inventory in short supply in 2020, causing prices to spike. This trend is expected to remain well into 2021, as there is still a shortage of available housing with a higher-than-normal demand.
- On the other side of the coin, entering the housing market as a home buyer could prove challenging in 2021. Not only are housing prices expected to continuously rise, but due to increased demand you should expect a competitive market.
- With the increased necessity of working from home for many Americans, space has become an especially attractive commodity – particularly, affordable space. Because of this, suburban areas – which were already seeing an upward trend of interested buyers pre-COVID-19 – are more popular than ever.
- With social distancing in play, virtual formats have become a new normal, with many real estate agents utilizing live stream features on social media for open houses, and more emphasis placed on virtual tours, videos, and photographs in home listings.
- The adoption of technology will drive smart amenities from the "nice-to-have" column to the "need-to-have" column as restrictions are put in place by local, regional, and state governments.
- The outlook of office space is uncertain, but possibly very dark. Businesses had to adjust quickly to a virtual workforce. Many of those businesses will find that they can operate just as well without the overhead costs associated with owning or leasing a physical office.
- One of the key factors driving commercial real estate trends since Covid-19 is the uncertainty surrounding which type of businesses will be able to operate during the pandemic and how that drives the values of those assets.
- Very high demand and capital are being reallocated to essential businesses like grocery stores, dollar stores, auto parts and service centers, pharmacies, medical companies, and quality guarantors in fast food. Stable cash flow with quality tenants paying rent wins in a high-risk market.
- Technology and digital connectivity have disrupted many industries and real estate is not immune. There will be increasing discussion about the effect of the internet on the value of land generally, although we are in the very early stages.
Building from the Ground, Up.
- Represented the Hallandale Beach Community Redevelopment Agency (CRA) in the $16.7 million Hallandale City Center project, which includes 89 rental apartments, including 14 set aside for affordable housing, and 8,000 square feet of retail space, including a grocery store and a pedestrian bridge over a nearby FEC railroad tracks. Negotiated all agreements, drafted all documents, and structured the transactions that made the deal possible. Guided the CRA's investment of $6 million to piece together 13 parcels, comprising four acres of property, from various owners. Advised the CRA throughout the process of finding a responsible developer, handling negotiations, and structuring development agreements and vetting financing proposals to protect the public interest. Now in process of obtaining building permits and other governmental approvals.
- Represented the North Miami Community Redevelopment Agency (CRA) in $500 million downtown redevelopment, in which the CRA will play a central role. The project will include a new city hall, police station and mixed-use projects including affordable housing, offices, and parking garages. We are involved in preparing the RFP, qualifying developers, and drafting the necessary agreements to effectuate the $100 million program.
- Represented the Naranja Lakes Community Redevelopment Agency (CRA) in negotiations with a developer to construct Redland Market Village development, a $250+ million large-scale transit-oriented redevelopment project combining commercial properties, multi-family, and affordable housing at the site of an existing farmers/flea market. Seven-phase project located on the U.S. Corridor would update and modernize the farmers market, upgrade, and add retail, add more than 1,650 units of housing, a direct connection to bus rapid transit, a main street feature and an office tower.
Spiritus Law has created pricing and budgeting guidelines designed to provide transparency in our fee structures and efficient cost accounting and planning.
We understand the importance of cost management, and we continually identify alternative billing structures that can accommodate both large projects involving various service and permitting needs and as well as small focused projects.
Our vast knowledge in the industry has always allowed us to create a competitive rate structure and alternative fee arrangements. This allows us and our clients to examine and consider the most effective billing method for their project. Our fee arrangements may include any of the following:
- Traditional Hourly Billing with monthly invoicing;
- Flat Fee per project billing for routine licensing matters;
- Monthly retainer billing for ongoing consulting services;
- Fee caps for special limited projects; and
- Quarterly billing arrangements based on project scope.
Interactive and collaborative client communication is a primary focus of our project management and enables us to promptly identify issues that may increase projected budgets or require the need of additional legal services. We routinely produce work plans so our clients can see what we will be doing in addition to what we are doing.
While each matter and each client’s goals are unique, we strive to identify and streamline standard processes and document requests to ease the burden various regulatory filing processes can impose on your in-house team and reduce the risk of unexpected legal fees.
