JDTP ALERT
JDTP FORMS PRACTICE GROUP
TO ASSIST LENDERS AND NON-DEVELOPER OWNERS
IN PRESERVING AND ENHANCING VALUE
OF LARGE SCALE RESIDENTIAL AND MIXED USE DISTRESSED REAL ESTATE PROJECTS
Jackson, DeMarco, Tidus & Peckenpaugh has long been widely recognized for its unique real estate industry focus and, particularly, for its ability to provide comprehensive legal services to clients involved in the entitlement and planning of large scale residential and mixed use development projects.
PROTECT AGAINST LOSS OF ASSET VALUE FROM EXPIRED ENTITLEMENTS AND DEPARTMENT OF REAL ESTATE APPROVALS
During the current distressed real estate market conditions, a significant number of large, partially developed residential and mixed use projects will change hands from development companies experiencing financial difficulties or liquidity problems to lenders, investors and opportunity fund buyers. To preserve and maximize the value of these newly acquired projects and position them for ultimate sale to the development community as market conditions stabilize, these new owners require legal counsel who are experts in all aspects of real estate law. JDTP’s newly formed REO practice group combines its common interest subdivision, land use and transactional groups to provide this expertise to its clients.
JDTP’S COMBINED EXPERTISE IN LEGAL ISSUES RELATING TO COMMON INTEREST SUBDIVISION, LAND USE AND DISPOSITION OF REAL ESTATE DEVELOPMENT PROJECTS IS UNIQUE AMONG LAW FIRMS
THE COMMON INTEREST SUBDIVISION GROUP
JDTP is uniquely positioned to provide strategic legal services that owners of fully or partially subdivided projects will require. Its common interest subdivision group, headed by the nationally recognized expert in this field, Scott Jackson, is the largest law firm group in the country specializing in this area. The common interest subdivision group is widely known for its innovative approach to the development and sale of master-planned communities, and other mixed use developments, including age restricted communities, residential and hotel condominiums and traditional residential and commercial condominiums and planned developments. The common interest subdivision group also has extensive experience in successfully obtaining and preserving federal, state and local approvals to develop and sell residential and mixed use subdivisions and regularly advises its clients on the application and use of federal and state regulatory exemptions.
THE LAND USE GROUP
The JDTP land use, natural resources and environmental law practice group is one of the largest in California. The land use group represents property owners in obtaining and preserving local, state and federal permits, entitlements and approvals from all governmental agencies with development jurisdiction including cities, counties, school districts, US Fish & Wildlife Service, California Department of Fish and Game, US Army Corps of Engineers, State Water Resources Control Board and Regional Water Quality Control Boards, and the California Coastal Commission. The land use group assists in negotiating legislation, regulations and development agreements governing real estate development and has expertise in all aspects of regulatory matters affecting land use, including air quality, water rights, endangered species, redevelopment and public financing.
THE TRANSACTIONAL GROUP
JDTP’s transactional real estate group has a cadre of highly experienced transactional attorneys, several with over 25 years of experience representing clients in all aspects of the purchase, disposition and financing of all classes of real estate assets, including REO properties, as well as providing comprehensive legal services related to debt and equity finance, real estate tax matters and sophisticated partnership, joint venture and operating agreement drafting.
MAXIMIZE VALUES BY PRESERVING AND OBTAINING REQUIRED ENTITLEMENTS AND APPROVALS
There is a common saying with much wisdom that “you don’t know what you don’t know.” There are many hidden pitfalls in the ownership of newly acquired REO properties. We have seen on multiple occasions land owners who are not aware of time limits for entitlements or permits from the California Department of Real Estate and who consequently risk the value of their assets by not monitoring and making the necessary filings and applications to preserve these valuable entitlements. JDTP is unique in its capabilities to provide the broad range of legal services that are so important to preserve and enhance the value of these REO properties.
Please contact either Andrew C. Schutz, Esq., in JDTP’s Orange County Office (949- 851-7448) or Glenn A. Fuller, Esq., in JDTP’s Westlake Office (805-418-1925) for more information about the REO practice group. We would be happy to provide a free, preliminary consultation to discuss the protective steps necessary to preserve the value of your REO real estate assets.
