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Murphy McMillan

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Murphy McMillan, shareholder in the Firm's Birmingham office, helps clients on myriad issues related to commercial real estate development, financing, acquisition, disposition and leasing transactions, including alternative financing structures, such as public-private partnerships (public incentive financing) and New Market Tax Credits.

Featured Experience

Represented a multi-billion dollar private equity investor in monetizing real property holdings, including harvesting assets acquired during distress cycle and developing retained real property for commercial purposes.
2012
Helped national, regional and local landlords negotiate retail leases with tenants.
Structured a construction and development loan, including New Market Tax Credit and Historic Tax Credit monetization components for the re-development of an historic downtown building.

Professional Biography

Overview

Mr. McMillan currently spends a great deal of his time helping private equity firms, investment advisors and pension funds acquire commercial real estate, including structuring joint ventures. Mr. McMillan is outside counsel to an international property management firm, which is one of the largest multi-family property managers in the United States.

He regularly assists foreign and domestic buyers in multi-family acquisitions throughout the Southeast. Having been a principal in a real estate development firm, Mr. McMillan has a keen understanding of both the legal and business issues with which his clients are faced.

Mr. McMillan also routinely advises clients on alternative financing structures. His work in the public-private partnership arena has also lead him into assisting clients in structuring financing for and development of health care projects.

Mr. McMillan frequently writes and speaks, nationally and locally, on a number of topics related to his practice.

Representative Matters
  • Acquisition and Development

  • Represented a multi-billion dollar private equity investor in monetizing real property holdings, including harvesting assets acquired during distress cycle and developing retained real property for commercial purposes. (2012)
  • Assisted an institutional investment advisor in acquiring multi-family properties, totaling approximately $100 million in investment over the last year.
  • Work for coastal resort owner in re-purposing an area of resort property for a "town center" retail development, including negotiation of construction agreements, leasing retail space and structuring operating formats for entertainment amenities.
  • Represented entrepreneurial developer of numerous "necessity retail" shopping centers on power center outparcels, ranging in size from 5,000-30,000 square feet, including acquisition, financing and leasing to regional and national in-line tenants.

  • Helped clients redevelop several large (400,000+ square feet) shopping centers, including additional land acquisition, amendment of restrictive covenants, road vacation, leasing and negotiating public incentives.
  • Advised clients, including a Fortune 1000 life insurance company, on the creation of investment vehicles to pursue acquisition and development opportunities.
  • Represented an opportunistic retail real estate investor, advising it on the acquisition of a 50% interest in an entity in default of its loan, whose single asset was an approximately 430,000 square foot retail center.  The transaction included an equity investment into the existing borrower and new debt.  The acquisition included structuring a joint venture with another investor, negotiating a loan acquisition agreement with the lender and negotiating a property acquisition agreement with the borrower for a simultaneous on those two acquisitions.

    (2011)
  • Retail Leasing

  • Helped national, regional and local landlords negotiate retail leases with tenants.
  • Advised national junior anchor in negotiating retail leases.
  • Alternative Financing

  • Structured a construction and development loan, including New Market Tax Credit and Historic Tax Credit monetization components for the re-development of an historic downtown building.
  • Negotiated a public private partnership to finance $30 million of infrastructure improvements for a retail center through a $20 million community development district (CDD) bond issue and a $10 million tax increment financing (TIF) reimbursement program.
  • Helped a publicly-traded REIT structure and negotiate a public private partnership to fund $20 million of infrastructure improvements for a lifestyle center development.
  • Assisted a publicly-traded REIT in structuring and negotiating public-private partnerships with a municipality and county to finance $20.5 million in infrastructure improvements for a 450,000 square foot retail development.
  • Health Care

  • Provided assistance to a private operator in securing opportunity to develop a rural hospital and negotiation of financing and alternative financing structures, including public incentives.
Professional Honors & Activities
  • Listed in Alabama Super Lawyers in Real Estate (2011 and 2012)
  • Listed since 2012 in Chambers USA: America's Leading Business Lawyers in Real Estate 
  • Fellow – American Bar Foundation
  • Member – ISCS Alliance Advisory subcommittee, responsible for providing guidance and direction for the ISCS Alliance Program  
  • Co-founder – Alabama Retail Alliance, a non-profit organization formed to promote best practices in economic development through public-private partnerships in retail developments in Alabama
  • Member – American Bar Association (Section of Real Estate Probate and Trust Law; Government Incentives Committee; Vice Chair, Retail Leasing Committee of the Real Property, Probate and Trust Section)
  • Associate Member – International Council of Shopping Centers (ICSC)
  • Member – Alabama Bar Association
  • Member – Birmingham Bar Association
  • Birmingham Business Journal "Top 40 Under 40," Class of 2000
  • Board of Directors – Alabama Farmer's Trust
  • Recipient – National Multiple Sclerosis Society's 2001 "Leadership Award"
  • Board of Directors – Easter Seals of the Birmingham Area (Chairman, 2003 – 2005)
  • Member – Monday Morning Quarterback Club, Crippled Childrens' Foundation
  • Member – Economic Development Association of Alabama
Speaking Engagements

Murphy and his wife, Beth, have two children, El (age 13) and John (age 8).

Murphy McMillan handles commercial real estate development, financing, acquisition and disposition and is active in the retail and multifamily sectors. Clients appreciate his 'business-oriented and solutions-focused' approach.

Clients declare that Murphy McMillan is 'fast, careful and reasonable as well as being a pleasure to deal with,' while his 'quality of work is high and he understands what a client needs.' He works mainly in commercial real estate development with emphasis on retail and multifamily projects. 

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