Real Estate Practice Successes
Creative Deal Structure Brings Results
An investment group's opportunity to purchase a large medical clinic was jeopardized by a due on sale clause and prepayment penalty required by the clinic's securitized mortgage. We successfully closed the deal for the investment group by negotiating a lease with the current owner, structuring a partial redemption of membership interest, and avoiding the transfer tax and the due on sale clause, all while competing with two other bidders.
Judgment Preserving Waterfront Rights
A trial court ruled that a waterfront property owner's riparian (access to water) rights had terminated. We argued the case before the Michigan Court of Appeals, obtaining a favorable ruling that served to reinstate the owner's rights.
Court of Appeals Victory for Homeowner
A homeowner terminated a real estate buy-sell agreement, refusing to sell to purchasers who failed to provide proof of financing. While the homeowner was represented by different counsel, the trial court ruled that the sale proceed. We were then retained and successfully argued that the trial court should stay its decision until the issue could be decided in the Court of Appeals. The Court of Appeals reversed the trial court on grounds that the purchasers materially breached the purchase agreement.