The attorneys of Radler White Parks & Alexander LLP are known around the region as top-flight dealmakers. From initial strategy through implementation to closing and beyond, we remain firmly focused on fulfilling the client’s vision. Land use and real estate projects are complex and often unpredictable. You need a legal team with the experience, skill and tenacity to address any challenge that arises.
ACQUISITIONS FOR DEVELOPERS
Dina Alexander represents several Portland based developers with the acquisition of unimproved land for new development and of improved properties for rehabilitation and renovation.
$77.5M APARTMENT COMPLEX PURCHASE
Dina Alexander represented a joint venture in the purchase of a three-tower apartment project in downtown Portland, Oregon. In dollar terms, it was the largest apartment acquisition in Portland’s history. Apartments in all three towers were renovated and 351 units in two towers were converted from apartments to condominiums. The third tower was later sold. In addition to the initial $77.5 million acquisition, Dina handled the subsequent sale of the third tower to a corporate buyer in 2008. She also handled the entity formation, equity and debt financing, and advised on risk management issues.
Dina represented the seller of Karney Plaza, a multi-family rental project in Portland's Pearl District. The negotiation of the purchase contract and the closing of the sale was completed in 30 days.
UNIVERSITY OF PORTLAND–CAMPUS EXPANSION
Dina Alexander represents the University of Portland in its Willamette River Campus expansion and development project. She assisted the University with the acquisition of the 35-acre Triangle Park parcel of industrial land which lies 135 feet beneath the main campus and which extends more than 2000 feet along the Willamette waterfront. An orphaned brownfield, the property was the former site of a lumber mill, concrete packing plant, ship building facility and power plant. Dina negotiated a complex purchase agreement and assisted the University with a lengthy closing process.
Dina is also assisting the University in its acquisition of an adjacent 43-acre parcel of land which borders the Triangle Park property along the Willamette River. The site has been under Superfund remediation since 1994 and poses complex challenges and constraints for future use and redevelopment.
The River Campus properties will provide the University with a host of opportunities for natural resource restoration, including a new greenway and trail, increased public use and stewardship of natural resources by the University’s environmental sciences program and expansion of University facilities.
PORT OF PORTLAND–DISPOSITION AND REDEVELOPMENT
Dina Alexander represented the Port of Portland in the sale of nine acres of property to Daimler Freightliner for the development of a new North American headquarters office building. The project was restructured to accommodate Daimler’s synthetic lease finance transaction and involved complex environmental, greenway and railway corridor issues. The project ensures Daimler’s long term commitment to Portland and the creation of approximately 400 living wage jobs.
EB-5 FINANCING / HOTEL PROJECTS
Dina Alexander has assisted a Portland development team with entity formation and property acquisition issues associated with joint ventures involving the federal "EB-5" immigration program. The resulting projects include the construction and management of two international hotels, one in Portland’s Pearl District and the other at the LA Live complex in Los Angeles.
PDX COMMONS–CO-HOUSING DEVELOPMENT
Dina Alexander represented the seller of real property to a co-housing development entity. The seller is the developer of a 28-unit mixed-use condominium project to be constructed on the property. In addition to negotiating the sale and assisting with unique co-housing structuring issues (real estate cooperatives are not utilized for housing in Oregon) she assisted the client with the termination of an easement and negotiated a new reciprocal easement with an adjacent property owner. Rebecca Tom prepared presale condominium documents for sale of the units to residential buyers and obtained Oregon Real Estate Agency presale approval for the project.
URBAN REDEVELOPMENT–PUBLIC/PRIVATE PARTNERSHIPS
Dina Alexander has represented a number of clients in the acquisition and redevelopment of urban properties that involve public/private partnerships and complex development agreements.
Dina represented a developer in the acquisition of property and development of a new Residence Inn by Marriott, which became the first hotel in The Pearl District when completed in 2014. The $50 million project was subject to a development agreement with the Portland Development Commission (PDC). She is currently representing the same client in the acquisition and development of a new 9-story office tower adjacent to the hotel project and which is subject to the same long term development agreement with the PDC.
Dina currently represents ZRZ Realty in a public/private partnership to redevelop 33 acres of urban waterfront property known as Zidell Yards. It is the largest undeveloped site in the urban core. Dina previously played a key role in assisting the developers of the adjacent Central District of the South Waterfront, which over the last decade has seen more than $2 billion in redevelopment, including high rise condominiums, apartments, retail parks and the expanding campus of the Oregon Health & Science University.
Over the past two years, Dina Alexander has assisted Evergreen Development with a highly contested public/private partnership to redevelop an entire city block in the heart of downtown Lake Oswego, Oregon. The new Wizer Block development will be a mixed-use urban project including 200 residences, underground parking, and more than 40,000 square feet of retail and commercial space. Dina drafted the development agreement, which was unanimously approved by the City of Lake Oswego Redevelopment Agency.
URBAN ACQUISITIONS AND EQUITY FINANCING
Dina assisted a client in the acquisition of a ¾ city block at SW Third and Taylor Street in the heart of downtown Portland for potential development of an office tower and a separate boutique hotel with 245 guest rooms and on-site fitness center and conference center. The project will also include ground floor and rooftop retail space. Dina represented the developer in the acquisition as well as the arrangement of equity financing, including the drafting of a joint venture agreement and related documentation.
Dina also assisted the developer of a $100 million office project at 17th and NW Naito with the acquisition of a 20,000 square foot site and the negotiation of a joint venture with an institutional equity financier.
SOUTH PARK–LOS ANGELES, CA
Dina Alexander represented the developers of South Park, a multi-phase mixed-used community in downtown Los Angeles. Civic and business leaders regard South Park as the vanguard of 21st -Century development in downtown Los Angeles. Currently home to the Los Angeles Convention Center and STAPLES Center, South Park is envisioned as the catalyst for an integrated neighborhood comprised of 1.5 million square feet of residential, commercial and parking space and more than 1,500 new condominium residences. Eventually, the South Park neighborhood will be home to 1,500 to 2,000 residential units and a vibrant mixed-use community.
Dina assisted the developers with the land acquisition, entity formation, equity and debt financing (for land acquisition and construction), construction contracts, condominium issues and risk management for each of South Park’s three initial residential projects, Elleven, Luma; and Evo. When built, Elleven marked the first ground-up residential project in downtown Los Angeles in more than 20 years.
Acquisition issues included understanding the intricacies of the Los Angeles Sports and Entertainment District (LASED), affordable housing requirements and the California condominium process. Evo’s structured finance package involved institutional equity, equity from high-net worth individuals, mezzanine and senior debt approaching $300 million.
Following Elleven's groundbreaking in fall 2004, the developers watched as over eighty percent of the units were reserved in less than 14 hours, representing $80 million in sales.
SOUTH WATERFRONT URBAN REDEVELOPMENT
Radler White attorneys have played a significant role representing the developers of South Waterfront, a $2 billion, multi-phase, public/private project that is the largest urban redevelopment in the history of Portland, Oregon. The project encompasses approximately 33 acres of former “brownfield” land along the Willamette River just south of Downtown Portland. A complex public/private development agreement guides the project. The agreement provided for the construction of the first aerial tram built in the United States in decades; an extension of Portland’s vaunted streetcar line; a public park and riverfront greenway; multiple high-rise residential towers; and affordable housing. Most recently, Dina and Denise completed the sale of two undeveloped blocks from Williams and Dame Development to OHSU. The transaction required yet another amendment to the SOWA Development Agreement.