Goldfarb & Fleece LLP is at the forefront of representing principal investors in acquiring multi-state portfolios of properties in sale-leaseback offerings from major U.S. companies. Some of the firm's clients hold properties long-term, while others acquire properties for resale, in many instances to complete tax-deferred exchanges in which the acquired properties constitute replacement property under Section 1031 of the Internal Revenue Code (IRC).
Through years of participation in this area, our attorneys have developed an expertise in the requirements for completing an IRC Section 1031 tax-deferred exchange. Our firm has handled a wide variety of Section 1031 exchanges involving acquisitions financed through single-lender mortgage loans, syndicated mortgage loans, securitized mortgage loans, bond-type financing, credit tenant financing and conduit financing, as well as mezzanine loans. These transactions typically involve triple net leases or bond leases with well-known companies.
We have significant experience in ground lease transactions which are typically used as an alternative structure to an outright sale or acquisition. We counsel clients on the various provisions which are critical to obtaining financing on a ground lease position. We are able to quickly and efficiently analyze any shortcomings of an existing ground lease and to provide alternative solutions. In the course of representing clients in large-scale sale-leaseback transactions, we have often come across ground lease positions which are then subleased to credit tenants under net leases; we have the knowledge and experience to offer practical and time-saving solutions to create leasehold interests or to modify existing ground leases so that our clients can avail themselves of all available financing.
Our lawyers have handled hundreds of net leasing and ground leasing transactions for warehouses, retail space, office space, hotels and many other types of property. We are able to help our clients successfully lease productive operations, from pad sites to multi-location chain stores, whether standing alone or being integrated into large developments or shopping centers. We have the broad experience and flexible thinking necessary to address the complicated issues related to leasing transactions and to craft workable solutions that meet our clients' goals.