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Vorys’ experienced real estate attorneys regularly represent clients in the full range of real estate matters. While a significant portion of our real estate practice involves clients engaged directly in the real estate business, we also work extensively with the firm’s other business clients on issues and initiatives relating to their real estate assets. Our firm’s depth in numbers and in expertise enables us to provide timely and efficient service on all types of real estate-related transactions and issues.
Our real estate clients include:
- private real estate developers and investors
- home builders
- financial institutions
- insurance companies
- governmental authorities
- contractors and subcontractors
- architects
- developers,owners, and users of office buildings, retail and other commercial properties, and industrial facilities
- developers of condominium developments, apartment projects, and other multi-family residential developments
Acquisitions, Sales and Exchanges
We regularly advise clients in the acquisition of all types of real estate, whether for investment, development or use, and in the sale or other disposition of real estate. We assist in structuring transactions to meet our clients’ goals, in negotiating and drafting purchase and sale agreements and related documents (including reciprocal easement agreements, restrictive covenants and other land control documents), and in closing transactions. In representing sellers and buyers, Vorys provides advice and guidance not only on the pertinent real estate issues but also on corollary issues such as entity structuring, environmental issues, land use concerns and tax considerations. For example, in appropriate circumstances, our real estate and tax lawyers collaborate closely in structuring transactions to achieve the most beneficial tax results, including as tax-free exchanges.
Development
Our firm’s real estate attorneys are experienced in the development of virtually all types of properties, including shopping centers and other retail and commercial properties, hotels, office buildings, industrial facilities, apartment projects, condominium communities and single-family residential subdivisions. For example, as real estate counsel to Limited Brands, Inc., Vorys has been lead counsel coordinating all aspects of the renowned Easton development in Columbus, Ohio. Vorys’ representation of M/I Homes, and various other Ohio-based home builders makes Vorys the preeminent legal counsel in residential real estate development in central Ohio and beyond.
Financing
Vorys regularly represents banks, insurance companies and other financial institutions in all types of commercial real estate lending transactions. In addition to our conventional financing work, we have particular expertise in representing lenders under HUD/FHA-insured programs and Freddie Mac programs. Our extensive experience in representing lenders also gives us valuable insight in our numerous representations of all types of borrowers in real estate loan transactions and related financings.
Leasing
We regularly represent landlords and tenants of office, retail, commercial and industrial properties in negotiating and drafting leases and related documents. Our leasing clients include owners/landlords of all types of retail/commercial properties, as well as tenants of retail, office and industrial space, a number of which we represent on a national basis.
Construction
Vorys’ real estate practice includes attorneys with extensive expertise in coordinating all legal aspects of construction projects, including the negotiation and drafting of construction contracts, construction management agreements and design professional contracts, as well as legal matters relating to the construction process, such as mechanics’ liens issues, permitting matters, payment and performance bonds and construction disputes.
Zoning and Land Use
Vorys routinely represents clients in zoning, annexation, building regulation and other land planning and land use endeavors, including governmental approvals on retail, office, industrial and other commercial projects, residential subdivisions and planned developments. The depth of our legal expertise together with our standing with pertinent governmental authorities allows us to be effective advocates in the land planning and land use process.
Condominiums
Vorys regularly represents prospective owners and developers on all aspects of condominium development, including in the coordination and preparation of all necessary organizational and governance documents as well as in providing counsel in the governmental approval process. The proliferation of condominium projects in recent years has dramatically impacted the real estate industry, and Vorys attorneys have taken a leadership role in the successful completion of numerous commercial and residential condominium projects in the Columbus area and throughout Ohio.
Joint Ventures
As an integral part of our real estate practice, Vorys has extensive experience in the entity-structuring process, including the formation and governance of real estate joint ventures such as limited liability companies and partnerships. Our real estate attorneys work closely with our tax and corporate lawyers to ensure that all structuring issues are addressed and resolved seamlessly as part of the overall real estate transaction.
Economic Development and Tax Incentives
Our firm has a long history of working with local, state and federal authorities to structure, negotiate and secure economic development incentives to help clients acquire and expand property and facilities. The firm has been especially active in working with state and local officials to make Ohio a leader in international economic development, in particular with regard to the firm’s Japanese clients. Our attorneys also have been particularly active in negotiating incentives and drafting agreements, where necessary, for:
- enterprise zone tax abatements
- community reinvestment area tax abatements
- community urban redevelopment corporation tax abatements
- tax increment financing incentives
- job creation tax credits
- local, state and federal loan and grant programs
Vorys attorneys also have significant experience in working with governmental authorities and the private sector to advance development through the use of special improvement districts, port authorities and other special legal entities designed to facilitate public/private developments.
Public and Semi-Public Transactions; Urban Redevelopment
Over the years, Vorys has represented public and quasi-public entities, facilities, developers and agencies in numerous complex multi-party transactions. In such transactions, the firm is able to combine its substantial real estate and finance expertise with its experience in representing and dealing with municipalities and other public entities. As general counsel to the Columbus Downtown Development Corporation, Vorys is integrally involved in the numerous public sector and private sector initiatives underway to revitalize downtown Columbus. The firm also was lead counsel to Capitol South Community Urban Redevelopment Corporation in all aspects of the development of a multi-use project in downtown Columbus, Ohio involving office, hotel, retail and parking and including land acquisition, demolition, leasing, construction and financing. Vorys’ leadership role in numerous other urban redevelopment projects such as the OSU Campus Partners initiative in Columbus, Ohio, and Pullman Square in Huntington, West Virginia also illustrate the range of the firm’s capabilities in the public/private arena.
Eminent Domain
We regularly represent both public authorities and private clients on matters relating to condemnation and the power of eminent domain. We have negotiated and litigated issues involving public purpose, just compensation and related issues in condemnation suits throughout Ohio.
Foreclosures and Workouts
Vorys has an extensive commercial and residential foreclosure practice representing interests throughout the State of Ohio. Our attorneys have spearheaded the foreclosure of mortgages and workout of mortgage loans involving office buildings, motels, restaurants, health and recreation facilities, farms, multiple unit apartment buildings, large apartment complexes, manufacturing facilities and other commercial properties. Such representation has included the appointment of receivers and the facilitation of the transfer of assets, operations and management after sale, as well as the full range of workout activities.
