Kramer Levin’s Real Estate practice stands as one of the most distinguished and comprehensive in the nation.
We are at the forefront of significant real estate developments and projects throughout the United States, helping transform city skylines and reshape the landscape.
Our services cover every aspect of real estate law, from acquisitions and sales, joint ventures, financings, and development to bespoke, hybrid leasing transactions, condominium work, and workouts and restructurings. This wide-ranging experience gives us unique insight into market trends, terms and conditions, positioning us to offer timely and innovative advice to our clients.
Our reputation in the real estate sector is renowned. Clients consistently turn to us for unsurpassed skills in handling major real estate transactions, appreciating our ability to understand their business, anticipate challenges, and offer real-time, creative solutions. Our clientele includes real estate developers and owners (including real estate investment trusts), private equity funds, institutional and alternative lenders, family offices, hoteliers, and other debt and equity capital providers. We guide clients in buying, selling, developing, redeveloping and financing properties, including offices; retail/shopping centers; hotels/resorts; and industrial, residential and mixed-use properties across the United States.
We regularly advise and assist clients in the following areas:
Internationally, with a notable presence in France, our Real Estate practice covers the following areas:
Working closely with our Tax, Banking and Finance, Litigation, Environmental, and Land Use lawyers, we ensure seamless service on everything from zoning, development rights transfers, landmarks proceedings, eminent domain and condemnation to tax-efficient deal structuring, permitting, environmental impact reviews, environmental risk allocation and remediation. We assemble multidisciplinary teams that ensure seamless service on and a fully integrated approach to any type of real estate transaction.
On May 17, 2023, Kramer Levin client VICI Properties Inc. (VICI) announced that subsidiaries of VICI will acquire the real estate assets of four casino properties in Alberta, Canada, from subsidiaries of Century Casinos Inc. (Century) for a total purchase price of CAD 221.7 million ($164.4 million).
Simultaneous with the closing of the transaction, the real estate assets will be added to the existing triple-net master lease between subsidiaries of VICI and Century, with an annual rent increase of CAD 17.3 million ($12.8 million).
Kramer Levin represented Sedesco in the latest addition to its Billionaire’s Row assemblage, the $77.5 million purchase of a 13-story office property at 37 W. 57th St.
The Real Deal reported on the transaction.
Kramer Levin represented Property Markets Group in connection with obtaining a $182 million construction loan to finance the development of a mixed-use property located at 811 Peachtree St., Atlanta, GA. The construction loan consists of a $134.5 million senior loan and a $47.5 million mezzanine loan. The transaction closed on Oct. 26, 2022.
Kramer Levin represented Blue Owl Capital in the negotiation of an office lease for approximately 137,000 square feet at 375 Park Ave. (the Seagram Building). The lease was signed on Aug. 12, 2022.
On July 28, 2022, the Supreme Court of New York issued a decision and order granting The Community Church of New York leave to ground lease and then sell certain real property it owns in the Murray Hill neighborhood of Manhattan, paving the way for the church to receive funds it hopes will allow its diverse congregation to survive and thrive, spiritually and financially, well into the future.
Kramer Levin’s Condominiums group has closed more than 1,500 units for an aggregate purchase price of more than $4.6 billion during a period of less than three years, from March 2020 to December 2023. Closings are the engine of the residential development business — they represent the culmination of what is often a yearslong process in the development cycle of a given project. Kramer Levin’s industry-leading Condominiums group regularly coordinates and conducts closings for the various condominium projects that its clients develop.
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