Case Study: Client Sells Signature Multifamily Residential Property in Maryland

In March 2010, Pacific Coast Capital Partners (PCCP) decided to sell Congressional Village, a 404-unit apartment complex in Rockville, Md., a Washington, D.C. suburb. PCCP recently had taken control of Congressional Village when it purchased Lehman Brothers’ preferred equity position in the property-owning entity.

But selling the property was complicated by a number of factors.

Read more...

Permalink: http://womblemultifamilyandmixeduse.blogspot.com/2011/01/case-study-client-sells-signature.html

Case Study: Multifamily Property Owner in Signature Recapitalization Transaction

Seven Springs Village, a 982-unit apartment community in College Park, Md., needed new debt financing and a new equity partner, in the face of a maturing CMBS loan and the bankruptcy of the owner’s existing equity partner.

The property’s owner, an affiliate of Ross Development & Investment (RDI), brought in Womble Carlyle real estate attorneys Pam Rothenberg, Richard David and Chris Iavarone to help structure, negotiate and document this recapitalization transaction with many moving parts in an extremely challenging market.

Read more...

Permalink: http://womblemultifamilyandmixeduse.blogspot.com/2011/01/case-study-multifamily-property-owner.html