Murphy McMillan, shareholder in the Firm's Birmingham office, is a problem solver. He currently spends a great deal of his time helping private equity groups acquire distressed commercial real estate loans and real property, and advising clients on steps to create and maximize the value of those acquisitions. 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. He helps both private and publicly-traded clients.
Distressed Real Estate, Real Estate Funds, and Acquisition and Development Matters
In connection with his work in distressed real estate, Mr. McMillan has advised clients, including a Fortune 1000 life insurance company, on the creation of funds to pursue those opportunities.
- Currently assisting a national real estate private equity fund in repositioning and disposing of commercial and residential assets.
- Assisted an opportunistic residential real estate fund in acquiring a package of distressed loans on a large-scale, high-end "traditional neighborhood development" and re-positioning the development, including repositioning of operating companies related to the development.
- Assisted an opportunistic real estate fund form a joint venture and purchase a 400,000 square foot lifestyle center.
- Assisted real estate fund in the acquisition of a distressed loan collateralized by a 450,000 square foot retail center.
Public Private Partnerships Matters
Aside from distressed opportunities in commercial real estate he also has advised clients on myriad issues related to commercial real estate development, financing, acquisition and disposition transactions, including public-private partnerships (public incentive financing) and retail leasing transactions with numerous regional and national tenants.
- Assisted a publicly-traded REIT with the largest development transaction in that company's history, a $225 million, 1,000,000 square foot mixed use development, including office, hotel and retail uses. Representation included structuring and negotiating public private partnerships to finance $30 million of infrastructure improvements through a $20 million community development district (CDD) bond issue and a $10 million tax increment financing (TIF) reimbursement program.
- Represented a developer in assembling and acquiring 34 separate parcels of land, with a combined purchase price of $19.8 million, for a 425,000 square foot retail development.
- Assisted a publicly-traded REIT structure and negotiate a public private partnership to fund $20 million of infrastructure improvements for a lifestyle center development.
- Assisted 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.
- Represented a private developer in securing a $4.9 million public-private partnership investment from a municipality and developing a $10 million grocery-anchored retail center.
Infrastructure/Health Care Matters
Mr. McMillan's work in the public-private partnership arena has also lead him into assisting clients in structuring financing for and development of infrastructure and health care projects.
- Assisted a private wastewater company in negotiating a development agreement for a $40 million state-of-the-art treatment facility for a defense contractor-manufacturer, including relevant financing and vendor agreements.
- Represented a private water and sewer company in developing and acquiring water and sewer systems in the Southeast, including structuring alternative financing through public-private partnership arrangements and negotiating service agreements with users.
Mr. McMillan frequently writes and speaks, nationally and locally, on a number of topics related to his practice, including:
- Speaker – "Acquisition and Development Issues in the Current Real Estate Market," sponsored by the Cumberland School of Law, "Trends in Commercial Real Estate Law 2011" program (November 18, 2011)
- Co-presenter – "Acquisition, Bankruptcy and Tax Considerations in Distressed Asset Purchases," TerraLex's International Real Estate Practice Group, Washington, D.C. (October 2, 2010); Institute of Management Accountants, Birmingham, AL (September 28, 2010); American Bar Association Annual Meeting, San Francisco, CA (August 8, 2010)
- Speaker – "Zen and the Art of Distressed Acquisitions," sponsored by the Alabama CCIM Chapter, Birmingham, Alabama (December 2009)
- Speaker/Moderator – "Public Private Partnerships," a quarterly webinar series sponsored by the ICSC Alliance Program and the Economic Development Association of Alabama (January 2010 – present)
- Speaker – "Public-Private Partnerships in Retail Developments," 2009 ICSC GulfSouth Idea Exchange, New Orleans, Louisiana (January 2009)
Commercial Real Estate Development and Leasing Issues
- Co-author – "Off Balance Sheet Financing, Via Real Estate 'Operating' Leases – Soon To Be A Thing Of The Past?" co-written with William Sylvester and Michael Evans, ABA Section of Real Property, Trust & Estate Law's bi-monthly eReport, October 19, 2010
- Speaker/Moderator – "The Nuts and Bolts of Retail Real Estate Leases," a bi-monthly conference call series sponsored by the Retail Leasing Committee of the Real Estate Probate and Trust Section of the American Bar Association (September 2008 – present)
- Speaker – "Tax Increment Finance Course," Council of Development Finance Agencies, Washington, D.C. (July 2008)
- Co-author – "Use of Public Incentive Finance in Commercial Real Estate Developments: A Developer's Perspective," The Real Estate Finance Journal (Summer 2007)
- Speaker – "Fundamentals of Real Estate Development," Birmingham, Alabama (December 2006)
- Listed in Alabama Super Lawyers in Real Estate (2011 and 2012)
- Listed in Chambers USA: America's Leading Business Lawyers in Real Estate (2012, 2013)
- 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
- University of Alabama School of Law, J.D., 1995
- Washington & Lee University, B.A., 1990
Murphy and his wife, Beth, have two children, El (age 13) and John (age 8).