Having worked for decades on real estate purchase, sale and development projects throughout Delaware, our lawyers have the experience to help clients structure and negotiate the best business deals, then quickly document and close the transaction. Whether the project involves single commercial properties or multiple property portfolios valued in the hundreds of millions of dollars, we bring value to the table through our track record of completing more, and more sophisticated, transactions than most other real estate lawyers in Delaware.
We staff each deal with one or two working lawyers who maximize speed and efficiency through the kind of thorough market knowledge that requires little learning curve. Our lawyers give clients all the help they need to get deals done, from land acquisition and land use approvals, through the financing and construction phase, to the sale, purchase or lease of the project. Because we are project-driven rather than process-driven, we structure every transaction to our client's best advantage. The number of real estate transactions in our legal portfolio ensures that we bring sound business judgment to each deal, offering an efficient and thorough due diligence review of title, property conditions and legal obligations as well as an assessment of future opportunities.
Government and Market Insight
The importance of our familiarity with local government contacts and market assessment cannot be overstated. We are able to handle unique development and regulatory issues (even in environmentally sensitive coastal areas), forge relationships with public officials that are essential for efficient deal closing, and resolve even difficult zoning or property tax problems. Our lawyers are skilled at settling crucial issues to secure the timely approval of permits and zoning applications, and make sure all due diligence, from determining environmental liability to insuring the title, is completed. While we are effective at appealing land use decisions, our real strength is in resolving the concerns of regulating bodies short of litigation.
Typical of Richards Layton’s broad and deep Delaware market sophistication, we have represented the City of Wilmington itself on development, land use and litigation involving a variety of real estate projects.
Finance and Investment Connections
Because Richards Layton has experience with some of the largest financial institutions and institutional investors in Delaware and the Mid-Atlantic region, we can facilitate the financing of any development project. Turbulent times often require creative financing alternatives or combinations—we consider the most advantageous structure using conventional lending and available equity sources, such as syndications and real estate investment trusts (REITs).
Our lawyers advise owners, syndicators, underwriters and investors (including entrepreneurial individuals and funds looking for substantial investment returns) on financing strategies, and excel at evaluating real estate and facility portfolios to maximize asset value. We evaluate and structure financing alternatives, develop and analyze lease versus ownership advantages, and identify tax and economic incentives.
In today’s challenging real estate market, Richards Layton represents secured creditors and developers in restructuring troubled real estate projects and real estate portfolios. Our wide-ranging knowledge of and contacts in the industry have given us special skills in lender liability, foreclosures and other workout-related transactions. Our lawyers can resolve defaults on commercial property loans by restructuring the loan agreement or handling portfolio transactions for both buyers and sellers.
Because we have the ability to represent all parties (lenders, buyers, sellers, developers), we are skilled at staying abreast of the market: for example, in our role as seller’s counsel, our extensive transactional experience enables us to anticipate and address buyer concerns and bring all parties to a successful closing. And we can handle such complexities as debtor-in-possession financing and deed-in-lieu-of-foreclosure transactions.