Multifamily & Condominium

Multifamily & Condominium
by Lowndes Law

Finding new sites, changes to tax laws, rising impact fees, managing design and construction risks, balancing supply and demand – these are all challenges facing multifamily developers, owners and operators… challenges that our Multifamily & Condominium Group addresses with our clients every day.

Our multidisciplinary team of attorneys works with clients involved in multifamily, condominium and mixed use developments, from acquisition, development, construction, ownership  and operation, to financing and disposition of these projects.

Acquisition/Disposition services include:

  • Contract negotiations
  • Due diligence
  • Entity selection and structuring
  • Issuing title insurance
  • Handling closings
  • Evaluating and implementing possible condominium terminations (reversions of condos to apartment rentals)

Land use and Entitlement services include:

  • Comprehensive Plan Amendment and Rezoning
  • Site Plan and Plat Approval
  • Confirming existing entitlements
  • Negotiating with School Boards
  • Negotiating Development Agreements
  • Structuring other covenants and agreements, which may include condominium regimes, complex easements, restrictions and multi-tiered property owners’ associations
  • Issuance of governmental permits and approvals
  • Impact fees (including alternative fees and exemptions)
  • Inclusionary affordable housing components and their alternatives.

Design and Construction related services include:

  • Negotiating contracts for design and construction, provision of utilities (including telecommunications) and other project services
  • Addressing construction lien issues
  • Litigating performance disputes with design professionals and contractors
  • Litigating latent defect claims
  • Achieving sustainable building standards
  • Assisting with the obtaining of U.S. Green Building Council LEED certifications.

In the financing arena, we facilitate acquisition, construction and permanent loans with local, regional and national lenders, including Freddie Mac and Fannie Mae, consisting of:

  • Negotiating Loan Commitments and Term Sheets
  • Negotiating loan documents
  • Issuing legal opinions
  • Facilitating the lender’s due diligence
  • Minimizing mortgage taxes
  • Issuing lender’s title insurance
  • Handling loan closings

In the area of project operations, we perform diverse functions such as:

  • Preparing and filing condominium documents
  • Terminating condominiums to return them to traditional multifamily use
  • Challenging property tax assessments, including tax appeals
  • Addressing other local, state and federal tax issues
  • Preparing leases
  • Providing tenant eviction services
  • Providing ADA and other regulatory compliance services
  • Restructuring equity interests
  • Offering general operational advice

With regard to dispositions, our Group is experienced in negotiating and closing sales contracts, tax-free exchanges and reverse exchanges, as well as agreements for the sale of ownership interests in operating entities to minimize transfer taxes.