Multi-Office Land Use and Environmental Due Diligence Effort Produces Great Result
Holland & Knight client Farallon Capital Management LLC recently was involved in the sale of developed, partially developed and underdeveloped properties owned by Centex Homes, the subsidiary of Centex Corporation (NYSE: CTX-News). The properties, worth $528 million, were sold to Dallas-based RSF Partners, Inc. and included funds under management by San Francisco-based Farallon and Greenfield Partners LLC of South Norwalk, Conn.
A team of Holland & Knight attorneys served as lead coordinating land use/environmental due diligence counsel and land use/environmental diligence review. Each property was reviewed to determine the applicable land use regulations and entitlements as well as any environmental issues. The Holland & Knight review allowed the client to determine the risks associated with the purchase and to negotiate the price and terms of the complex purchase.
The matter involved coordinating, on an expedited basis, land use and environmental due diligence for 27 residential properties located in California, Nevada, Arizona, Texas, Illinois, Minnesota, Maryland, Delaware, Virginia and Florida. Lawyers from Holland & Knight's real estate and government practices worked together to provide direct service in California, Illinois, Maryland and Delaware, and to direct outside counsel in Nevada, Arizona, Texas, Virginia and Florida.
The team continues to provide support by organizing and managing the master file and assisting with their operational transition for the properties.
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