White & Case Real Estate Dealmakers of the Year
Global law firm White & Case served as legal advisor on a number of real estate transactions that received recognition in the Daily Business Review's "Top Dealmakers of the Year," an acknowledgment of the people who made the largest and most complex deals in Florida in 2012. The Daily Business Review is a business publication, providing legal, real estate and financial information focused on the South Florida market.
Winner – Office Category
Partners Steven J. Vainder (Real Estate) and Edward Sawyer (Tax) represented Crocker Partners, a real estate investment firm in Florida that owns, operates, and develops office and mixed-use projects, in connection with the widely reported on acquisition of Miami Center, the Winner in the Office category. The Miami Center is a 34-story, 851,900 square-foot tower, which was purchased from SCOA Miami Center (which had been owned by Sumitomo Corp. of America) for US$262.5 million. The deal has a complex ownership structure and involved the formation of a multi-party joint venture, the satisfaction of the existing CMBS loan, the financing of the acquisition and due diligence on both the property owning entity and the underlying asset.
Finalist – Restructuring/Distresses and Leasing Categories
In the Restructuring/Distresses category, Vainder was recognized for his representation of Carr Residential LLC in connection with the acquisition, development and sale of the Aqua Isles residential project in Broward County, which closed in six weeks. The transaction involved the buyback of condominium units, the termination of the existing condominium and conversion of the project to a rental community and the ultimate sale of the complete project to an institutional buyer for US$28.5 million.
In the Leasing category, the relocation of The Miami Herald and El Nuevo Herald, two McClatchy-owned newspapers received finalist recognition. Blanca Commercial Real Estate provided brokerage services and White & Case acted as legal counsel. Our team advised the McClatchy Company, the third-largest newspaper company in the United States, in a transaction that involved both a lease of office space and the acquisition of adjacent land to construct their new production facility.