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Practice Area

Real Estate

Comprehensive legal counsel for real estate transactions, development, investment and asset management.

Whether you are a developer, builder, owner, investor, or lender, you know that each real estate transaction involves its own challenges and opportunities. In these difficult economic times, all challenges are intensified, and too much is at stake to choose counsel unwisely. That’s why Friday, Eldredge & Clark has developed a comprehensive, multi-disciplinary real estate practice, with resources focused on the needs of all key real estate players.

Our top-level credentials and our focus on clients every day are your assurance that your interests will be protected, and your objectives achieved, from initial planning to final closing and beyond.

Our real estate work covers a broad range of transactions, regulatory advice, and litigation — from routine purchase agreements to complicated and sophisticated commercial, corporate, tax and environmental work. We provide clients with practical advice and creative solutions, whether they are buying, selling, leasing or operating real property or oil and gas interests in Arkansas or in multi-state transactions. We counsel clients on debt and equity financing, non-recourse financing, project financing, partnerships and limited liability companies, joint ventures and other investment vehicles, as well as on land use, brokerage and management agreements.

Areas of Focus

Acquisition, Disposition & Development

We negotiate and prepare agreements and other required documents needed in every aspect of buying, selling, developing, constructing and leasing any type of real estate project, including office and retail buildings, mixed-use projects, free-standing units, shopping centers, farms, hospitals, manufacturing facilities and industrial sites. We have extensive experience representing clients in the purchase and sale of entire portfolios of real estate, including multi-state transactions.

Financial and Commercial Transaction

Few law firms in Arkansas surpass our ability in handling complex transactions such as Section 1031 like-kind exchanges, which we structure to help clients close on replacement property without incurring negative tax consequences. You can also get our help with creative variations, such as reverse like-kind exchanges (in which the new property purchase precedes the exchange sale) and deferred like-kind exchanges.

Tax Planning

Choosing the right business entity form to minimize taxes is the foundation of real estate tax planning. We help you evaluate whether a limited liability company (LLC) or partnership (LLP), an S Corporation, C Corporation, or some other vehicle is the best way for you to meet your growth and financing needs while maximizing tax advantages, then help you create the appropriate management and organizational structure. You also get current advice on issues involving ad valorem property taxes and the various intangibles taxes and transfer taxes. We are always alert to creative entity variations that meet any business tax planning need.

Tax Credits

We work with investors, lenders, developers, nonprofit organizations and businesses to provide creative financing opportunities and tax-credit solutions to boost economic development in Arkansas. We have extensive knowledge and years of experience in tax credit programs such as Renewable Energy Tax Credits, New Markets Tax Credits, Low Income Housing Tax Credit and Opportunity Zoning. We work with clients to help simplify the complexity of tax credit loan transactions while structuring multi-layered deals that maximize their tax relief.

Land-Use Planning

Through working closely with clients and municipalities, we help clients navigate the various aspects of land-use planning and zoning which affect the development and operation of commercial real estate.

Renewable Resources

We have extensive experience counseling parties regarding the sale and leasing of oil, gas and mineral interests, as well as participation in and financing of solar projects, including negotiation of solar leases (either as lessor/lessee) and structuring solar projects to take advantage of property tax benefits or tax credits.

Litigation

Even the best-planned real estate projects can run into problems, and sometimes the courtroom is the best place to resolve them. Real estate clients rely on us to resolve commercial disputes involving contractual obligations of all types, plus such complicated tax disputes as manufacturing tax exemptions. We have served as class action counsel in commercial litigation, as well as regional counsel in complex trials.

Summary
  • Full-Cycle Real Estate Services: Support for acquisition, development, leasing, disposition and portfolio transactions.
  • Strategic Tax & Entity Structuring: Advising on LLCs, partnerships, corporations and like-kind exchanges to optimize tax outcomes.
  • Complex Financing & Investment Vehicles: Handling debt and equity financing, joint ventures, and investment structures for real estate and renewable projects.
  • Land-Use, Zoning & Mineral Interests: Counseling on zoning, land-use planning, oil, gas and mineral leasing, solar project structures and tax credits.
  • Dispute Resolution & Litigation Readiness: Providing commercial real estate litigation support including tax disputes, zoning issues, environmental liability and joint venture disagreements.
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