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Allen Matkins real estate attorneys have had the pleasure of
representing our clients on the following projects, which received awards
from the San Francisco Business Times as 2004 Real Estate Deals
of the Year. Allen Matkins worked on nine of the 41 projects, explained in
more detail below, that received awards or were finalists.
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Alexandria Land Deal at Mission Bay - Winner of the Deal of
the Year and the Best Land Deal of the Year
Client
(Seller): Catellus Land and Development Corporation, an
affiliate of Catellus Development Corporation www.catellus.com
Location: Mission Bay,
San Francisco
Size: 1.4 million square feet of
commercially entitled land (two different transactions), all slated
for life science facilities
Buyer: Alexandria Real Estate
Equities, Inc. |
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Our Role: We acted as lead counsel for Catellus Land and
Development Corporation in the sale of the land and commercial
entitlements in Mission Bay to Alexandria Real Estate Equities,
Inc., a publicly traded real estate investment trust. Alexandria
owns and manages office and laboratory properties occupied by
biotechnology and pharmaceutical companies.
Project
Specifics: The land is adjacent to the UCSF Biotechnology
Research and Life Science Campus, a 43-acre facility used for
teaching, research, and health. UCSF Mission Bay is the anchor of
the Mission Bay project, San Francisco’s largest urban development
since Golden Gate Park. The Catellus transaction is an important
element in Mission Bay's transformation into a first class life
science cluster destination. The land was acquired in two
transactions; the first was 508,000 square feet of entitlement in
September and then another 905,000 square feet of entitlement were
sold to Alexandria Real Estate Equities, Inc. in October. In the
first quarter of 2005, Alexandria acquired an additional
approximately 700,000 square feet of entitlement for life science
facilities.
Lead Allen Matkins Attorney(s): Gary S. McKitterick |
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Nelson Rising, Catellus Development Corporation's Chief
Executive Officer - Winner of the Deal Maker of the
Year
Allen Matkins has represented Catellus
Development Corporation and its affiliates for years,
including acting as lead counsel for numerous major real
estate transactions in 2004. Along with Allen Matkins' role in
the Deal of the Year referenced above and the other
transactions that either won awards or were finalists
mentioned elsewhere in this E-Alert, we acted as lead counsel
to Catellus in the $343 million sale of urban and residential
development assets to an affiliate of the San Francisco-based
Farallon Capital Management, L.L.C. In addition to
representing Catellus in connection with its California real
estate assets, Allen Matkins is working with Catellus on
various projects throughout the United States including the
acquisition of 290 acres of land at Exit 12 of the New Jersey
Turnpike in Woodbridge, Northern New Jersey and a 25-acre
parcel in Carteret, New Jersey. These properties have a
development potential of over 3.25 million square feet.
Lead Allen Matkins Attorney(s): Gary S. McKitterick, Michael A.
Alvarado | |
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J. David Gladstone Institutes - Winner of the Best New
Office/San Francisco Deal of the Year
Client
(Seller): Catellus Land and Development Corporation, an
affiliate of Catellus Development Corporation www.catellus.com
Location: 1650 Owens
Street, San Francisco
Size: 200,000 square
feet
Project Cost: $145 million
Developer: J.
David Gladstone Institutes |
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Project Manager: Todd Sklar, AIA, Mezzatesta
Sklar
Tenant: FivePrime Therapeutics
General
Contractor: Rudolph and Sletten
Architects: NBBJ
Our Role: We represented Catellus in the sale of land and
entitlement to the J. David Gladstone Institutes, which transaction
closed in 2002.
Lead Allen Matkins Attorney(s): Gary S. McKitterick |
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Mission Place Sale - Winner of the Market-Rate Residential/San
Francisco Deal of the Year
Client (Seller): Third
and King Investors, LLC, of which Catellus Land and Development
Corporation is a member
www.catellus.com
Location: 250 King
Street, San Francisco
Size: 595 housing units, 130,000
square feet of retail and office space
Estimated Value:
$330 million
Buyer: Centurion Real Estate Partners, Lehman
Brothers |
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Brokers: Jay Borzi, Steve Silk, Mark Williams, and Stephen
Van Dusen, all of Secured Capital
Tenants Include:
Safeway, Borders, Wells Fargo, and Starbucks
Our Role:
Allen Matkins acted as lead counsel in the sale of a large mixed-use
development, parking garage, and ground lease interest to an entity
managed by Centurion Real Estate Investors.
Project
Specifics: A portion of this large mixed-use project was
originally developed as a "for lease" multi-family residential
project. The buyer converted the project to "for sale" units to take
advantage of the residential market opportunities.
Lead Allen
Matkins Attorney(s): Gary S. McKitterick |
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Essex Lake Merritt Financing - Winner of the Market-Rate
Residential/East Bay Deal of the Year
Client
(Lender): HSBC Bank USA, National Association www.hsbc.com
Location: One Lakeside
Drive, Oakland
Estimated Value: $88
million
Buyer: Lennar Communities and The Emerald
Fund
Seller: Essex Property Trust |
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Brokers: Moison Investment Co.
Financial Partner:
Hong Kong Shanghai Bank
Our Role: We represented HSBC
with the lending aspects of this transaction, which included both an
acquisition loan and a construction loan to finance the apartment to
condominium conversion costs.
Project Specifics: These
high-rise apartments, on the edge of Lake Merritt in Oakland, were
entitled to allow for future condominium conversions. To date, this
was the highest price paid for an Oakland residential property. It
is expected that all 270 units will be sold by August of this
year.
Lead Allen Matkins Attorney(s): Andrea L. Clay |
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Stonestown Galleria Sale, San Francisco - Winner of the Best
Retail Transaction
Client (Seller): Heitman
Financial/Pacific Acquisition Corporation
www.heitman.com
Location: 3251 20th
Avenue, San Francisco
Size: 900,000 square feet of retail
space on 41 acres
Estimated Value: $312
million
Buyer: General Growth Properties |
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Brokers: John McGee, Rockwood Realty
Associates
Tenants Include: Macy's, Nordstrom, and Barnes
and Noble
Our Role: Our team assisted Heitman
Financial/Pacific Acquisition Corporation in the sale of this
shopping center to General Growth Properties.
Lead Allen
Matkins Attorney(s): Lee Gotshall-Maxon |
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PricewaterhouseCoopers Lease at Three Embarcadero Center
- Finalist of the Best Office Lease/San Francisco Deal of the
Year
Client (Landlord): Boston
Properties
www.bostonproperties.com
Location:
Three Embarcadero Center, San Francisco
Size:
153,000 square feet
Estimated Value: $110
million
Tenant:
PricewaterhouseCoopers
Brokers:
PricewaterhouseCoopers was represented by Jon Wittemyer and
Whitley Collins of CB Richard Ellis.
Our Role: We
drafted and negotiated this lease on behalf of Boston
Properties.
Project Specifics: This is a 15-year
deal that will commence in 2005.
Lead Allen Matkins
Attorney(s): Tony S. Natsis, Robert A.
Lurie | |
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Mission Place Retail - Finalist of the Best New Retail
Deal of the Year
Client (Landlord): Third
and King Investors, LLC, of which Catellus Land and
Development Corporation is a member
Location: 250
King Street, San Francisco
Size: 82,000 square
feet
Estimated Value: $2.3 million per
year
Tenants: Safeway, Wells Fargo, Borders, and
Starbucks
Our Role: Allen Matkins acted as lead
counsel in the negotiation and documentation of the multiple
retail leases for this large mixed-use project.
Project
Specifics: This major mixed-use project included a ground
floor retail area located across the street from SBC Park.
This first-class retail project is part of the same complex in
which the winner of the Market-Rate Residential project is
located.
Lead Allen Matkins Attorney(s): Gary S. McKitterick, Nancy N. Lundeen, Craig D.
Swanson | |
Selected Images by Keith
Sawyer
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