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Counsel on Transactions for Over 3,000 Retail Properties

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Key Facts

  • Represented the client for the past 20 years
  • Represented the client in thousands of real estate projects
  • We are nationally recognized for the development of a nationwide due diligence and compliance protocol to facilitate the purchase, clean up, sale, and leaseback of portfolios of retail properties that are or were formerly brownfields

The Situation

For the past 20 years, Mintz has represented the company in thousands of real estate purchases, ground leases, and development projects, as well as its sale and leaseback transactions involving more than 3,500 of the company’s retail properties located in nearly all 50 states, with an aggregate value in excess of $12 billion. Our team is nationally recognized for the development of a nationwide due diligence and compliance protocol to facilitate the purchase, clean up, sale and leaseback of portfolios of retail properties that are or were formerly brownfields. 

The Approach

Our work for the company includes addressing the environmental information disclosure requirements for national public and private placement of debt secured by the company locations. Our team also collaborates to provide environmental counsel in connection with the company’s national expansion plan including negotiating with regulatory agencies and third parties regarding remediation, regulatory closure, and environmental covenants.

The Outcome

During the last several years, our representation included, but was not limited to (1) managing two significant 144A public offering sale / leasebacks with an aggregate property value of approximately $650 million; (2) working on numerous environmental issues unrelated to transactions, including federal and state superfund sites; and (3) managing three private placement sale / leaseback transactions with a property value of approximately $600 million. 

Supporting Professionals

Susan Phillips, a member in our Environmental Law Practice, was the lead environmental partner, together with real estate partner Stephen Friedberg, in performing these deals. This work was also supported by 10 other Environmental and Real Estate Professionals.