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REAL ESTATE

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. 

Focused on Clients

Some of the country’s leading businesses, professional service companies, and non-profit organizations ask us to handle their real estate, tax, finance, corporate, construction, environmental, and regulatory concerns. They include:

  • ArcBest
  • Arkansas Children’s Hospital
  • Arkansas Natural Resources Commission
  • Arvest Bank
  • Bank OZK
  • Baptist Health
  • CDI
  • Center for Toxicology and Environmental Health
  • Chambers Bank
  • Citizens Bank
  • Clark Construction
  • Colliers International
  • Cornerstone Bank
  • CrossMar Investments, LLC
  • Dale Capital Partners
  • Danny Thomas Real Estate
  • Delta Peanut
  • Dillard’s, Inc.
  • E.C. Barton & Company
  • Encore Bank
  • Entergy Corporation
  • First Financial bank
  • First Security Bank/First Security Beardsley
  • Flake & Company
  • George’s, Inc.
  • Goldcrest Farm Trust
  • Great Southern Bank
  • Hachem Investments, Inc
  • Legacy Capital Group
  • McLarty Automotive Group
  • Murphy Oil USA, Inc.
  • Natural Capital Fund I, L.P.
  • Oaklawn Racing Casino Resort
  • Partners Bank
  • PotlatchDeltic
  • Regions Bank
  • Sage Partners
  • Southern Bancorp
  • Simmons Bank
  • Specialized Real Estate Group
  • Tempus Realty Partners
  • Tyson Foods, Inc.
  • University of Arkansas

Focused on Services

Acquisition, Disposition and 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 Transactions – 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.

Other services include:

  • Debt and equity financing
  • Tax issues (including sales and use tax matters)
  • Insurance and regulatory
  • Environmental and regulatory
  • Mergers and acquisitions
  • Zoning issues
  • Joint ventures 

Focused on our Team

We have developed a core real estate practice that has the highest ranking from Chambers and Partners.

"Established real estate team, equipped with a strong roster of tax specialists. Well resourced to handle matters including financing, development and leasing, representing lenders and professional services companies. Advises on related tax and zoning and land use issues. Especially active on real estate work relating to energy and natural resources."

- Chambers USA 2019

You want your real estate or any other transaction to be tax-efficient, and, because many of our attorneys have earned a master’s degree in tax law, we can give you coordinated business and tax advice. Such an approach is both a strategic edge and a cost-efficient advantage in the highly competitive real estate market.

We authored the Arkansas Limited Liability Company Act. Our experience in the area of exchanges is deep and covers straight like-kind exchanges, reverse like-kind exchanges and deferred like-kind exchanges. We have acted as lenders counsel in real estate-based loans to countless institutions and as local counsel for out-of-state lenders.

 

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