Real Estate
Real estate is a relationship business. The who, how and when can be just as important as the how much. From multibillion-dollar developments to commercial leasing and real estate finance, Phelps has the team you need to make the deal you want.
Related Professionals
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We routinely represent large or emerging commercial and industrial developers and other property owners, as well as commercial, retail and industrial lessors and tenants and banks and investment companies in a variety of real estate transactions. We focus on creative problem-solving for our clients in a cost effective, responsive and professional manner.
Commercial and Industrial Leases
Our real estate lawyers have varied experience representing clients in the preparation of commercial and industrial leases. We represent both landlords and tenants on both long-term and short-term leases. Our lease experience includes free-standing facilities, office complexes, malls, strip shopping centers and mixed used centers, and industrial ground leases.
Lending and Finance
Many of our clients are major banks involved in the financing of major construction projects for single- and multi-family residential, commercial and entertainment facilities. In such projects, we draft construction loan agreements, review title and other information and prepare documentation necessary to perfect the lender's security interest in the project.
Phelps Title Agency
Phelps Title Agency, a division of the firm, provides title insurance services to our clients and lenders. As an agent for both First American Title Insurance Company and Lawyers Title Corporation, Phelps Title Agency has extensive experience in the issuance of title policies and the analysis of various underwriting risks. We also have considerable experience in endorsements to the policy jackets to confirm that our clients are provided adequate coverage for the risks involved.
Donations
Finally, our practice includes counseling clients on the issues of donating real property to family members, public and private foundations, and charitable and educational institutions. Concerns over fractional ownership interest, partitions, unknown environmental liabilities and management are also addressed.
Services
- Acquisition, financing, development and sale of office, industrial, hotel, retail, commercial and agricultural properties
- Construction lending
- Commercial leasing
- Collateralized financing
- Debt restructuring
- Zoning, land use and governmental regulation
- Environmental regulatory counseling
- Title insurance
- Donations and exchange
- Partnerships and limited liability companies
Experience
Charity Hospital Redevelopment Project
Prior to its severe damage in 2005 from Hurricane Katrina, Charity Hospital was the second oldest continuously operated public hospital in the U.S. and served one of the largest uninsured populations in the country. It sat vacant in the heart of the New Orleans Medical District for 15 years. In October 2019, Phelps advised LSU Real Estate and Facilities Foundation (LSU REFF) in the leases surrounding LSU’s public-private partnership plan to redevelop the former hospital into a mixed-use facility of residential and retail space. The redevelopment project is expected to cost $300 million that will be partly funded by tax credits, and the building will not be subject to property tax as the building will still be owned by LSU. The structure will include approximately 390 residential units plus retail shops and restaurants.