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Commercial Real Estate Transactions

Maryland-Based Commercial Real Estate Practice

Shulman Rogers Commercial Real Estate Transactions Group is made up of two major practice areas, the Purchase andCommercial Real Estate Transactions Attorneys for Maryland, Virginia, and Washington DC Sale Practice Group and the Commercial Financing Practice Group.  We represent real estate owners, commercial and residential developers, investors, managers and lenders.

The Purchase and Sale Transaction Practice handles all aspects of purchase and sale, including local and national closings, with particular expertise in tax-free exchanges, negotiating and drafting contracts and resolving title and survey-related issues.

Clients include:

  • International, national and local individuals and businesses
  • Retailers
  • Residential developers and home builders
  • Financial institutions
  • Educational institutions
  • Local government municipalities
  • Nonprofit entities

Experience includes:

  • Commercial
  • Industrial
  • Hospital and assisted living facilities
  • Hotels and resort property
  • Retail
  • Condominium
  • Cooperative
  • Office buildings
  • Shopping centers
  • Unimproved land

Services include:

  • Letters of intent, purchase contracts and closing documents
  • Due diligence matters, including title and survey analysis, lease review, tenant estoppel letters and analysis of land use issues.
  • Tax analysis and formation of entities, including corporations, partnerships, special purpose, bankruptcy remote and limited liability companies.
  • Counseling purchasers through loan application, review and modification of the loan commitment letter and preparation of final loan documents.
  • Counseling through the construction, development/redevelopment, architectural and engineering process.
  • Transfer tax analysis and planning
  • Issuing title insurance policies as approved agents for Lawyers Title Insurance Company, Commonwealth Land Title Insurance Corporation and Chicago Title Company.

The Commercial Financing Practice Group works with all types of real estate loans, including financing for the acquisition, development, leasing and construction of:

  • Large mixed-use projects
  • Retail projects
  • Shopping centers
  • Multistory office buildings
  • Multi-family residential complexes
  • Hotel and recreational complexes

Clients include:

  • Real estate investment trusts
  • Pension funds
  • Educational institutions
  • Institutional and private lenders
  • Residential developers and home builders
  • Healthcare providers
  • Retailers

Experience includes:

  • Traditional financing
  • Asset-based lending
  • Conduit lending
  • Lease financing
  • Healthcare financing
  • Loan workouts and restructuring
  • Mezzanine financing
  • Synthetic leases
  • Sale-leaseback transactions
  • Bond financing
  • Small Business Administration loans
  • Multi-jurisdictional loans

Services include:

  • Counseling through the finance process
  • Due diligence matters, including title, land use and survey analysis, lease review, negotiation of subordination, non-disturbance and attornment agreements.
  • Formation and review of entities, including corporations, partnerships, special purpose, bankruptcy remote and limited liability companies.
  • Issuing organization, authorization and enforceability opinion letters.
  • Transfer tax analysis and planning.
  • Issuing title insurance policies as approved agents for Lawyers Title Insurance Company, Commonwealth Land Title Insurance Corporation and Chicago Title Company.
  • Closing the loan

Representative transactions:

Mixed Use

  • Represented the owner in redevelopment of the Rockville Mall site, with retail, office, hotel, parking and residential components. This included negotiation of a long-term redevelopment agreement with the city of Rockville, lobbying and securing of over $18 million in public funds from the State of Maryland, Montgomery County and the City of Rockville.
  • Represented developers of mixed-use projects involving integration of the parcels and creation of covenants, easements and other restrictions on the use and occupancy of the property.
  • Represented lenders in the acquisition and sale of hotel-office building complexes in California, New York and Maryland.

Shopping Centers/Malls

  • Represented developers in zoning, acquisition, development, financing and leasing, including drafting and negotiating, development agreements, ground leases, sales of outparcels, leasing and big-box tenants and power centers.
  • Represented a retail home improvement chain in acquiring, leasing and financing their shopping centers.
  • Represented an owner in acquiring a leasehold interest and financing a shopping center with historic preservation issues.

Office Buildings

  • Represented an international company in acquiring and leasing of a $120,000,000 'trophy' office building in Washington D.C.
  • Represented a pension fund advisor in acquiring and leasing a $99,000,000 suburban office building.
  • Represented a developer in acquiring, renovating, leasing, financing and ultimate disposition of a portfolio of suburban office buildings.
  • Represented a REIT in acquiring two medical office complexes and a strip shopping center in California.
  • Represented a pension fund in acquiring a metropolitan office building with underground transit.


  • Represented a Canadian company in acquiring and financing 5 apartment projects totaling 1700 units in Oklahoma.
  • Represented a private company in sale of 6 apartment projects.
  • Represented an owner in connection with a conduit loan on a 313-unit Fairfax County, Virginia apartment building.
  • Represented a non-profit organization in acquiring and financing 5 apartment complexes in the southeastern United States.


  • We represent an off-shore company that acquires, renovates and manages 'trophy' hotels and office buildings.
  • Acted as counsel to a closely-held corporation that has developed hotels and acquired hotels in Florida, Maryland, Michigan, Missouri, North Carolina, Ohio, Utah and Virginia.
  • Represented an international company in acquiring, financing and sale and like-kind exchange of a luxury Baltimore hotel.


  • Represented national and local developers in acquiring, construction financing, permanent financing and subsequent outsales of Maryland and Virginia properties.
  • Represent national and local builders in acquiring and developing buildable lots and the construction of new homes.
  • Represented a real estate investment trust acquiring a single-family country club/residential use property.
  • Represented owners in conversion of existing apartment buildings to condominium regimes.


  • Represented a lender in financing a Washington D.C. hospital.
  • Represented owners in acquisition, development and financing of church and synagogue properties.
  • Represented owners of educational facilities in bond financing.
  • Represented communications companies in acquisition of tower sites.
  • Represented owners in negotiation, documentation of conduit loans secured by retail, residential, industrial and commercial real estate.