Dave is a real estate partner in Troutman Sanders LLP's Real Estate Section in the law firm's New York Office.
Dave has broad experience representing clients in the acquisition, financing, development and disposition in New York and nationwide of office buildings, residential developments, retail properties, hotels and industrial assets. Dave has substantial expertise representing landlords and tenants in commercial leasing transactions involving office, retail and industrial properties. Dave's practice frequently includes the negotiation and documentation of joint venture agreements on behalf of both "money partners" and "operating partners", representation of acquirer and target entities in the real estate aspects of corporate merger and acquisition transactions, workouts of distressed properties and loan facilities, the purchase and sale of real estate loans and real estate loan portfolios, ground lease development and financing, Section 1031 like-kind exchanges, development rights transfers, installment sales as well as transactions involving cooperative housing corporations, condominiums and vertical fee parcels.
Representative Engagements
Acquisition and Disposition
Sale of a 550,000 square foot midtown Manhattan plaza district office building to a New York Stock Exchange listed real estate investment trust in return for cash, assumption of existing mortgage indebtedness and operating partnership units structured as a 1031 tax free exchange.
Sale of a 500+ key suburban New York hotel carrying a national hotel franchisor's flag in return for cash at closing and post-closing consideration structured as an installment sale.
Sale of certain partnership interests and the recapitalization of the remaining partnership interests in a partnership which owns a Hudson Yards area property capable of supporting 2 million square feet of office space in which a New York Stock Exchange listed commercial real estate company obtained a controlling interest in return for cash at closing and a preferred future return.
Acquisition of a 500+ key Manhattan hotel carrying a national hotel franchisor's flag on behalf of a New York Stock Exchange listed real estate investment trust, including the purchase of the first and second mortgage loans from a foreign bank group and the conversion of such debt into fee ownership in a pre-packaged bankruptcy.
Acquisition of a 306,000 square foot commercial condominium unit for use as an ambulatory care facility by a major Manhattan medical center and hospital.
Sale of a 139,000 square foot net leased office building in Fort Lee, New Jersey.
Acquisition of a 23 building residential complex in suburban New York in connection with the assignment of the successful bid at a foreclosure sale.
Representation of private equity firm in connection with its roll up of numerous regional retail furniture chains into a national furniture retailer and in connection with financings of its corporate and real estate assets.
Representation of private equity firm in connection with its acquisition of a national provider of luxury salon and spa services and in connection with financings of its corporate and real estate assets.
Acquisition of Mitchell-Lama apartment complexes containing in excess of 500 residential units.
Sale of a chain of 13 Manhattan parking garages to a national owner and operator of parking facilities throughout the United States.
Acquisition of three "Broadway caliber" theaters for live performances in New York, Chicago and Toronto on behalf of a New York Stock Exchange listed entertainment company.
Acquisition of numerous net-leased retail properties in Section 1031 like-kind exchanges on behalf of a major entertainment company.
Development
Representation of a major Manhattan property owner, in connection with the proposed development of a 700,000+ square foot office building in midtown Manhattan.
Counsel to developer in the negotiation and documentation of construction financing provided by a large regional bank for a critically acclaimed Manhattan luxury residential condominium development.
Representation of an investment fund in the structuring, negotiation and documentation of its joint venture with the developer, and the acquisition, development and financing of a residential community in suburban Phoenix.
Counsel to developer in connection with its joint venture with a New York based hedge fund in the acquisition of a distressed multifamily development project in Tennessee and the assumption and modification of a defaulted construction loan financing from a national money center bank.
Leasing
Counsel to national retailer in connection with its leasing of regional flagship stores in Chicago, Illinois and Burbank, California in areas subject to municipal redevelopment statutes requiring discretionary approvals.
Counsel to national furniture retailer in connection with its national leasing program.
Representation of a national provider of luxury salon and spa services in its national leasing program.
Representation of a New York bank in connection with its headquarters lease and its retail branch leasing program for its subsidiaries.
Counsel to New York regional restaurant chain in connection with its leasing program.
Representation of a retailer of luxury women's accessories in connection with its luxury shopping center and premium outlets leasing program.
Representation of New York Stock Exchange listed entertainment company in connection with the subleasing of a portion of its headquarters building for a flagship restaurant.
Representation of landlords and tenants in the leasing of Manhattan office buildings.
Financing
Counsel to a foreign money center bank in connection with the provision of construction financing for a suburban Chicago hotel which will carry a national hotel franchisor's flag.
Acquisition by a real estate investment fund of a portfolio of distressed loans and property acquired by foreclosures and deeds in lieu of foreclosure from a major regional bank.
Acted as borrower's counsel in the refinancing of a 500,000 square foot net leased Manhattan office building by the offshore branch of foreign money center bank.
Representation of a major foreign financial institution in connection with a multi-property loan facility secured by hotel properties in Florida, Georgia, Mississippi, North Carolina and Tennessee.
Counsel to a major foreign financial institution in connection with a loan facility secured by a shopping center in Shreveport, Louisiana.
Representation of a railroad equipment servicing company in the refinancing of its corporate loan facility and real estate assets.
Counsel to a regional luxury supermarket chain in the refinancing of its corporate loan facility and real estate assets.
Representation of a foreign bank group in its workout of a distressed loan facility to a hotel chain.
Work Experience
Partner, Troutman Sanders LLP, 2005-present
