Boutin Jones
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Client Results - Real Estate

    Acquisitions and Dispositions

    • Acquisition of $494 Million Non-Performing Loan and the Hokuli’a Development Project on Hawaii. The firm's real estate, finance and bankruptcy groups represented SunChase Holdings, Inc., and its affiliates, in the acquisition of a $494 million non-performing loan encumbering Hokuli’a, a partially developed luxury residential master-planned community on the island of Hawaii, and in the acquisition of various real and personal property assets related to the Hokuli’a project. The firm’s role included structuring the transaction and providing tax analysis, negotiating and documenting the acquisitions of the loan and other assets, coordinating and conducting due diligence on the loan and the underlying project, closing the acquisitions, and developing and implementing a reorganization strategy for the entities owning the project. The Boutin Jones team consisted of Doug Hodell, Jim Moore, Mark Gorton, Jim Leet and Gregg Philipp.

    • Acquisition of Conaway Preservation Group, LLC and Conaway Ranch. The firm’s real estate group represented AKT Investments, Inc., and its affiliates, in the acquisition of Conaway Preservation Group, LLC and its assets, including over 17,000 acres of land in Yolo County commonly known as the Conaway Ranch. The team conducted and managed due diligence work regarding the acquisition of the entity and the land, negotiated and documented the terms for acquisition, and managed the closing.

    • Acquisition of ARCO Towers High Rise Office Project. The firm’s real estate group recently represented Molina Healthcare Inc. in its $81 million acquisition of the Molina Center, a twin-tower office project formerly known as ARCO Towers, in downtown Long Beach. The team managed the process for the negotiation, documentation, diligence, financing and closing of the acquisition.

    • Major Conservation Easement. The firm’s tax and real estate group completed the acquisition by Wildlife Heritage Foundation of an open space and agricultural conservation easement preserving over 9,207 acres of prime farmland in Fresno County, CA. The easement is one of the largest agricultural preservation easements in the State of California.

    Real Estate Finance

    • Bank Special Loans. Represented a private equity investor in commercial office properties, in a management team buyout from Morgan Stanley of multiple joint-venture real estate assets and a $27 million securitized loan financing of the acquisition (2010-2011).

    • Borrower Buyout Financing. Representation of local and regional banks in the negotiation and documentation of “special loans” for OREO properties, ground lease financings and failed-project financings for condominium projects and conversion projects.

    • Creation of Loan Program. Our real estate group represented the CRHMFA Homebuyers Fund in the development and implementation of a $25 million Moderate Income Retrofit and Conversion Loan Program, including: (i) negotiation of the California Energy Commission grant contract; (ii) the structuring and creation of loan program documentation, vendor contracts and underwriting guidelines; and (iii) the creation of loan servicing guidelines in connection with long term loan program administration. We previously represented the State’s California Integrated Waste Management Board in the design, documentation and implementation of the CIWMB's award-winning Recycling Marketing Development Loan Program (RMDZ).

    Client Results
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    Boutin Jones Inc.
    555 Capitol Mall, Suite 1500
    Sacramento, CA 95814
    T: 916.321.4444
    F: 916.441.7597