Vivek Chavan

Airport Matters

• US$100 million acquisition of ground lease interests for on-tarmac cargo facilities at seven international airports in exchange for OP units. The transaction involved the transfer and assumption of debt and bond financing, condemnation rights, and the assumption and modification of existing airport ground leases agreements with local airport and governmental authorities
• US$118 million purchase of ground lease interests in 25 airfreight buildings, totaling 2.1 million square feet, located adjacent to three international airports. Transaction involved negotiating new airport ground lease agreements with local airport and governmental authorities and condemnation rights
• Acquisition of a key 20-acre parcel of land located adjacent to Los Angeles International Airport, for the development and construction of a parking facility. Transaction involved significant regulatory and land use issues and approvals and involved obtaining approval of the acquisition and development of real property from, and the negotiation of an airport ground lease agreement with the Los Angeles World Airports, City Council of the City of Los Angeles, Los Angeles City Attorney's Office and other governmental agencies
• Acquisition of a ground lease interest in an office and warehouse building at Washington Dulles International Airport. The transaction involved the transfer and assumption of debt and bond financing, condemnation rights and the assumption and modification of an existing airport ground lease agreement with local airport and governmental authorities
• Acquisition from The Boeing Company and development and construction of real property located adjacent to the Long Beach Airport. The transaction involved significant regulatory and governmental issues and approvals

Acquisition and Disposition Transactions

• US$618 million sale of an entire industrial real estate fund, comprised of 5.8 million square feet in 100 property portfolios in 11 states
• Lead counsel for a cross-disciplinary team representing institutional investors in connection with the US$1.39 billion sale of 1.1 million acres of timberlands to a consortium of publicly traded investors and operators. The transaction involved real estate, corporate, tax, employment, securities, REIT and international law
• US$1 billion contribution of 35 portfolios in nine states in exchange for OP units. The transaction involved transfer of membership interests, joint venture agreements, tax structures, assumption of 16 loans and US$100 million in new financing
• Lead counsel for a cross-disciplinary team involved in the acquisition of US$2.4 billion of 1.55 million acres of timberlands and other assets located in seven states. The transaction involved mergers and acquisitions, equity and debt financing, installment notes, tax, and REIT and SEC compliance
• Foreign investors in a loan workout and sale of a US$210 million technology center to another foreign investor. The transaction involved foreign investment and tax considerations
• US$30 million acquisition of 42 acres of land and the development of a data center campus. The transaction was structured as a ground lease for tax consideration with purchase options and development rights and obligations
• Trustee in the consolidation, workout, structuring and liquidation of a 28-property US$250 million project

Joint Venture Transactions

• Fund (as an investor) in a programmatic joint venture for the acquisition, development and financing of Class B retail, multifamily and mixed-use retail and residential assets in several states
• Client (as sponsor) in a US$120 million joint venture for the acquisition and financing of eight office buildings
• Client (as sponsor) in a US$100 million joint venture, structured as a REIT for tax purposes, with foreign investors, in the acquisition of a large distribution center in Texas
• Client (as sponsor) in a US$200 million programmatic joint venture for the acquisition and financing of two Class A medical office buildings and future medical office buildings in several states
• Client (as investor) in a US$100 million joint venture for the acquisition, renovation and financing of five industrial buildings
• Client (as investor) in the recapitalizing of a US$120 million office building in Hawaii, including the acquisition of the office building from 30+ TICs
• US$115 million joint venture with an institutional bank. The transaction involved the contribution and operation of 24 industrial portfolios in six states and US$70 million in new financing
• Publicly traded REIT in a US$1.5 billion joint venture. Transaction involved contribution of eight shopping malls, issue of common and preferred membership interests, negotiation of joint venture documents and assumption of debt

Financings

• A borrower in connection with a US$458.5 million construction loan structured through the use of both tax-exempt bonds and taxable notes which were backed through various levels of credit enhancement provided by institutional lenders, as well as a swap agreement covering the full US$458.5 million in exposure
• An institutional industrial client as borrower in a US$300 million securitized financing involving seven borrowers and 20 portfolios in six states, with A/B and fixed and floating notes
• An institutional industrial client as borrower in a US$100 million financing secured by 18 properties, totalling 1.6 million square feet. The transaction included a LIBOR floating rate shelf note, a fixed rate note, partial releases and substitution rights
• An institutional industrial client as borrower in a US$165 million unsecured to secured facility, with recourse and non-recourse notes and guarantees
• An institutional industrial client as borrower in a US$70 million mortgage and mezzanine loan. The transaction included New York City IDA ground lease industrial properties with sandwich leases, purchase options and master guarantees
• An institutional industrial client as borrower in a US$60 million unsecured credit facility, with a revolving line of credit

Development and Construction

• A client (as the owner) in the development of a mixed-used development adjacent to San Diego Petco Park, including a 36-story apartment tower, three six-story buildings and a 1,200 space multi-level parking garage
• An institutional industrial client in the acquisition of land and subsequent development, construction and sale of an industrial business park, comprised of 13 separate office condominiums and a total of 215,000 square feet of office and retail space
• An institutional industrial client in the acquisition of land and subsequent development, construction and sale of an industrial business park, comprised of 24 separate improved parcels and a total of 162,000 square feet of industrial and office space
• An institutional industrial client in the development, construction and sale of a 657,000-square foot warehouse for Home Depot
• An institutional industrial client in the acquisition, development and ongoing construction of a 120-acre master planned development. The planned development will include 1.5 million square feet of building area and will include both spec and build-to-suit industrial buildings