Real Estate Law
Jennings Strouss has an extensive real estate practice, with several attorneys certified as Specialists in Real Estate Law by the State Bar of Arizona's Board of Legal Specialization. We represent clients in every segment of the real estate industry, including owners, lenders, borrowers, investors, developers, contractors, brokers, property managers, title insurers, escrow agents, municipalities, and syndicators.
Particular strengths of our real estate attorneys include acquisition, development and disposition of real property; financing; title insurance; syndications; leasing; construction, renovation and restoration; environmental and water rights issues; tax-deferred exchanges and other tax issues; subdivisions; condemnation; and real estate litigation.
Jennings Strouss takes pride in the experience of its real estate attorneys in handling complex and innovative real estate transactions and litigation.
Real Estate Acquisition, Development and Disposition
The Firm has extensive experience in the purchase, development and sale of improved and unimproved land for commercial, industrial and residential uses. Our experience includes negotiating and documenting contracts for the acquisition of property, resolving survey and title-related problems, overseeing environmental due diligence, and securing governmental and regulatory approvals.
Real Estate Financing
Our attorneys represent lenders and borrowers in financing both the acquisition and development of shopping centers, office buildings, hotels, apartments, golf courses, industrial buildings, residential subdivisions and other projects. We have extensive experience in documenting commercial real estate loans for major local institutional lenders as well as out-of-state lenders. Our lawyers also work with numerous financial institutions and insurance companies with Arizona real estate portfolios in the areas of loan modifications, restructuring and workouts, foreclosures, receiverships and bankruptcy.
On behalf of both landlords and tenants, we negotiate and document leases for office, industrial and retail projects. We prepare "standard form" leases for smaller tenants, but we also negotiate the more sophisticated lease requirements of national credit tenants. Our Firm has been involved in some of the most unique ground leasing projects in Arizona, including leasing of both private and public lands. We have considerable experience in modifying ground leases from earlier eras so they are financeable in today's market.
Construction, Renovation and Restoration
Architectural and construction contract documents raise a variety of legal issues. Our attorneys have substantial experience in representing all of the players in the construction industry, including owners, developers, architects, engineers, contractors, project managers and subcontractors. We can provide assistance in negotiating the standard industry form contracts or preparing project specific forms.
The Firm assists buyers, sellers and lenders in evaluating environmental issues affecting real estate transactions. We advise clients on strategic planning for complying with federal and state environmental regulations, and in performing "due diligence" for the purposes of quantifying and assessing environmental risks and determining liability for environmental conditions.
The Firm has a highly experienced tax practice, with expertise in virtually all aspects of federal, state and local tax law. Our real estate lawyers work together with our tax lawyers to advise clients on sales and use tax and property tax issues. We have assisted clients in structuring a number of transactions that permit a developer to take advantage of certain favorable tax treatments under Arizona "possessory interest" tax laws when a new development occurs within a city's redevelopment district.
Our attorneys advise developers on all aspects of residential property developments, including master planned communities, condominium projects, apartments, planned unit developments and homeowner associations.
We represent both property owners and condemning agencies in condemnation actions involving acquisitions of property for governmental facilities, rights of way and urban redevelopment projects.
Real Estate Litigation
Our lawyers represent developers, shopping centers, office complexes and other commercial clients in virtually all types of commercial lease disputes. We have litigated matters as simple as forcible detainers to complex lease interpretation issues such as rental adjustment provisions and continuous operations provisions. We represent developers in disputes with homeowners’ associations (and vice versa) over CC&Rs. Our attorneys have litigated adverse possession and easement claims and virtually all other title issues. We have extensive experience litigating escrow and title insurance claims. We also defend real estate brokers and trustees in professional liability claims.