Dispositions
Jack has represented sophisticated clients in the disposition of real estate portfolios and properties around the region.
Jack helped negotiate and close the sale of a $49.5 million medical office building in Portland, Oregon. The transaction was highly complex due to: (1) the legal structure of the property (including an air space lease, two parking agreements and a development agreement, each requiring assignment to the buyer by a governmental body); (2) the required restatements of the major tenants’ leases to convert them from gross to triple net leases; and (3) holdback agreements related to (a) the required acquisition of a remnant parcel that was erroneously omitted from a parking lease, and (b) required non-conforming parking upgrades triggered by major tenant improvement work.
Jack represented a private equity firm in the sale of three office and light industrial complexes in Salt Lake City, Utah, for approximately $64 million. He represented local developers in the sale of a vacant block in downtown Portland for development of an internationally branded hotel, and in the sale of a $39 million apartment building to an international investment firm. Jack also represented an institutional client in the sale of a $42.9 million mixed-use project in San Leandro, California, and a regional bank in the disposition of various bank-owned properties around the state of Oregon. He also represented an institutional investor in the sale of a $52.9 million office building in downtown Portland.