Through its Condominium Practice, Baker Donelson's lawyers have represented lenders, developers and investors in financing, acquiring and developing residential and commercial condominium projects, including projects in mixed-use and medical developments throughout the Southeast. A member of Baker Donelson's Real Estate Practice Group served as one of the chief architects of the Tennessee Condominium Act which was enacted by the Tennessee Legislature and signed into law in 2008.
In addition to new construction, Baker Donelson assists clients with condominium conversions, re-development of historic buildings into condominiums, and repositioning and acquiring distressed condominium developments. Our work routinely includes the review and preparation of condominium and owners’ association documents.
Baker Donelson's lawyers provide a broad range of additional legal services relevant to condominium projects, such as the negotiation of construction contracts, land use and zoning, and representation of condominium developers in the enforcement of purchase agreements.
Recent representative transactions include:
- Served as lender's counsel for financing of a $50 million condominium/marina development.
- Represented developer in the acquisition and development of a $57 million, 18-story mixed-use project containing 186 residential and 2 commercial units.
- Provided counsel to developer in the acquisition and development of a $29 million, 14-story mixed-use project containing 97 residential and 2 retail units.
- Represented developer in the acquisition and development of a three-story, $11 million mixed-use project containing 42 residential/townhome and 13 retail units, all developed as parts of a phased master development.
- Represented a NYSE-traded REIT in analyzing condominium documents and sales contracts in connection with repositioning of a $45 million resort condominium development.
- Served as counsel for developer in the re-development of a historical structure into an $11 million, 34 unit residential condominium development in downtown Memphis, Tennessee. Representation included acquisition, tax structure advice, financing, negotiation of construction contracts and preparation of condominium and owners' association documents.
- Represented developer in the development of an in-fill, mixed-use condominium project, including grocery-anchored retail with 22 luxury, residential condominium units and 100,000 square feet of retail and office space, having a development cost of more than $32 million. The project is located in an affluent suburban municipality and Baker Donelson assisted the client in overcoming numerous obstacles, both legal and political, to obtain the final entitlements necessary to develop the project.
- Served as developer's counsel for a 53,000 square foot medical office condominium building, constructed upon a ground lease parcel.
- Represented numerous owners in converting apartment complexes to residential condominiums.
- Represented owner in converting apartment units, contiguous to an urban professional baseball park, to residential condominiums.
- Represented condominium homeowners' association in the correction of deficiencies in original condominium documents.