Tax - Real Estate
Our team provides advice to clients on federal, state, and local tax issues that arise in connection with the acquisition, construction, ownership, financing, and disposition of real estate.
- Assisted a developer in its acquisition of a 50 percent interest in a large urban shopping center in Philadelphia. The newly redeveloped, enclosed mall contains 1.4 million square feet of retail space and spans more than three city blocks. We provided a wide range of land use, transactional, and state and local tax advice.
- Represented a large university on the development of a more than $100 million student housing project consisting of a 361,200-square-foot, mixed-use student housing and retail project. Due to the complex structure of the partnership between the university and private housing developer, it required careful coordination of legal, architectural, and operational issues. We advised on the structure of the transaction with the joint venture partner, negotiated the development terms of the operating agreement, and drafted all of the real estate documentation, including tax-related issues for the university.
- Represented an owner/developer in the new construction of a Home2 Suites by Hilton® across from the Pennsylvania Convention Center. The 246-suite hotel features more than 2,000 square feet of meeting space and 9,750 square feet for ground retail and restaurants. Our attorneys handled obtaining zoning approvals, the tax structuring, and all related construction and real estate documentation. We also handled the joint-venture agreement with the hotel operator, the franchise agreement with Hilton®, and the hotel management agreement.