Commercial Real Estate Closings
Shulman Rogers understands that closing or settlement represents the pinnacle of your real estate transaction, and few settlement providers, have the depth of our expertise and resources. Our sophisticated and experienced professionals have decades of experience in the acquisition, disposition and financing of real estate.
In addition to having experienced real estate attorneys conduct your closing, our highly knowledgeable staff will keep you advised and informed on all aspects of the transaction, taking the necessary steps to facilitate your settlement. We use the latest technology and provide you with direct and convenient access to all our personnel and documentation.
Our professional staff is with you from the initial structuring and documentation, whether it is the purchase agreement or the loan commitment, until the releases are recorded and the title insurance policy is issued. We work closely with all of the allied professionals, including surveyors, environmental consultants, tax advisors and others involved in the due diligence and evaluation process to make certain that all prerequisites are satisfied and closing proceeds in an orderly and timely manner.
Our best efforts are available to minimize closing costs and structure transactions in a manner to mitigate transfer and recordation taxes wherever possible. The closing practice group has the experience and sophistication to handle all types of settlement transactions from build to suit like-kind exchanges to loan defeasances to multi-state and multi-property acquisitions, financings and dispositions.
Attorneys and staff in our closing practice group provide a full range of services to owners, purchasers and sellers, including:
- Preparation, compliance and review of purchase agreement
- Loan commitment examination and negotiation
- Title insurance
- Preparation of transaction documents
- Conduct closing
- Recordation of documents
Our attorneys and paralegals are available to conduct and prepare settlements in the State of Maryland, the Commonwealth of Virginia and the District of Columbia. Through our commercial practice network we can coordinate with local attorneys and national title insurance underwriters to facilitate your closings in almost any state of the union and in a number of foreign countries.
- Represented purchaser in acquisition, financing and structuring a Reverse 1031 Exchange for the $47,500,000 purchase of an office building in Washington, DC and sale of an office building for $31,570,000 also in Washington, DC. Transaction included defeasance of existing loan secured by the building sold and securitized cross-collateralized loan securing the building purchased.
- Represented owner in refinancing shopping center located in Montgomery County, Maryland with an indemnity deed of trust structure in the amount of $44,000,000.00, including the defeasance of the existing loan.
- Represented property owner in connection with obtaining Fannie Mae consent to the subdivision of the secured property and a second mortgage in the amount of $7,600,000 securing a 262 unit apartment complex located in Prince George’s County, Maryland.
- Represented property owner in connection with the $9,844,000 acquisition and financing of a 54 acre site located in Loudoun County, Virginia.
- Represented owner in structuring sale of membership interests in a trophy office building located in Washington, DC to a REIT, involving foreign owned interests.
- Represented purchaser in acquisition, bond financing and structuring 1031 Reverse Exchange for the purchase of a $21,000,000 build to suit office building located in Montgomery County, Maryland.