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Real Estate, Rental & Leasing

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Overview

The real estate industry can be complex and uncertain. But it can also be exciting and tremendously rewarding. Stoll Keenon Ogden recognizes this from our longstanding work on matters small and large in the wide arenas of real estate, rental and leasing.

SKO provides efficient legal assistance to a spectrum of clients including borrowers, lenders, buyers, sellers, landlords and tenants within the real estate industry. Our work includes matters involving:

  • Acquisition, development and disposition
  • Planning and zoning
  • Disputes
  • Eminent domain
  • Construction contracts and negotiation
  • Loans and financial restructuring
  • Local, state and federal legislation
  • Title examinations and insurance
  • Mergers and acquisitions
  • Expansions and relocations

Work Highlights

Dealer Floor Plan Financing

Represented bank in the documentation and negotiation of $46 million floor plan credit and a construction draw facility used to finance borrowing group’s automobile dealerships in Tennessee and Missouri.

Structured Finance

Currently represent bank in the documentation, negotiation, and administration of multiple revolving credit facilities totaling more than $11 million to a mortgage lender, each of which is secured by the collateral assignment of promissory notes, mortgages and assignments of rents and leases on residential and commercial properties  in Kentucky, Indiana, Ohio, Virginia, West Virginia and Florida. 

Commercial Real Estate Lending – Special Assets

Represented bank in the documentation and negotiation of forbearance and workout terms for multiple credit facilities totaling $18 million used by the borrower to finance commercial real estate properties in Florida, Indiana, Kentucky and Alabama.

Commercial Real Estate Lending

Represented bank in the documentation and negotiation of a $4.5 million secured credit facility used by a real estate holding company to acquire a shopping center in Washington County, Indiana.  Our representation included the negotiation of estoppel certificates and subordination and non-disturbance agreements on behalf of the bank with multiple national retailers.

Commercial Real Estate Lending – Construction Financing

Represented bank in the documentation, negotiation and participation of a $16 million credit facility used by the borrower to finance the acquisition, improvement and construction of a multi-unit apartment complex in Shelby County, Kentucky. 

Commercial Real Estate and Acquisition Lending

Represented bank in financing the acquisition and improvement of three real estate properties located in Southern Indiana by related obligor groups. The closings were documented, negotiated and closed simultaneously in careful coordination with multiple sellers and their respective counsel, existing lessees and real estate brokers.  

Commercial Real Estate Lending – Construction Financing and Multi-bank Participation

Represented bank in the documentation, negotiation and participation of a $48 million credit facility used by the borrower to finance construction of a pediatric hospital owned and operated by an affiliate of the University of Louisville.

Asset Based Lending

Represented bank in the simultaneous closing of four credit facilities totaling $29 million used by the borrowing group – a national steel company in Ohio and related entities – to refinance outstanding indebtedness, construct a warehouse facility and for general working capital purposes.

Zone Changes for Multi-Family Residential

SKO represented clients in the acquisition, zone change, and all related development plan approvals for several student housing apartment projects throughout Kentucky.

Related Practices: Real Estate

Equine Tourism

SKO aided in the creation and formation of a non-profit Equine Tourism entity designed to garner tourism onto Central Kentucky horse farms and increase fan support and awareness in the sport of horse racing.

Related Practices: Real Estate, Equine Transactional

Zone Change for Mixed-Use Development

SKO obtained a zone change and all related development plan approvals for a national Retail Outfitter and Mixed-Use Development in Lexington.

Related Practices: Real Estate

Zone Change for Enterprise Zone Mixed-Use Development and Distillery

SKO obtained a zone change and all related approvals for a new Mixed-Use Development and distillery on Whiskey Row in Downtown Louisville.

Related Practices: Real Estate

Real Estate Litigation

SKO obtained a summary judgment at Fayette Circuit Court for a zone change appeal filed by protesting neighbors to a zone change and new development.

Zone Change for Mixed-Use Development

SKO represented clients in the acquisition, zone change, development plan approvals, and all related permitting for a 50-acre Mixed-Use Development including retail, office space, and multi-family residential uses.

Related Practices: Real Estate, Construction Law

Directed Verdict in Criminal Case

SKO obtained a directed verdict of all criminal charges filed against a client following a jury trial in Circuit Court.

Related Practices: Criminal Law, Business Litigation

911 Flat Fee

Greater Cincinnati/Northern Kentucky Apartment Assoc., Inc., et al. v. Campbell County Fiscal Court, 479 S.W.3d 603 (Ky. 2015). (Holding Campbell County’s 911 flat fee on occupied residential and commercial units was not an unlawful flat property tax but a lawful fee authorized by KRS 65.760(3).

Related Practices: Real Estate

Commercial Foreclosure

Represented major regional banks and community banks in foreclosures of office buildings, shopping centers, golf courses, subdivision property, multi-family residential properties, warehouses, manufacturing facilities and others. He served as local council for the Special Servicer for the Trust in two CMBS loan foreclosure actions one of which involved indebtedness of $31 million dollares secured by a shopping center which was sucessfully completed in August 2017 and the other involving indebtedness of $17 million dollars secured by a student housing complex and which was successfully completed in May 2018.

Industry Involvement

Certified Commercial Investment Member Institute

Commerce Lexington

Commercial Property Association of Lexington

Home Builders Association of Lexington

Home Builders Association of Louisville

International Council of Shopping Centers

Kentucky Bankers Association

Kentucky Commercial Real Estate

Kentucky Commercial Real Estate Alliance

News

Publications