Real Estate

We represent owners, sponsors, lenders and investors at all levels of the capital structure, from formation to exit, in an array of real estate equity and debt finance transactions. This ranges from structuring new companies and co-GP arrangements to mezzanine finance and strategic contractual alliances. Our cross-border practice allows us to provide clients with the necessary tax, securities, fund formation and regulatory insights necessary to create and implement joint venture agreements for some of the nation’s most complex real estate finance transactions.

Representative Engagements:

• Represented NorthBridge Partners on its acquisitions of industrial, warehouse, and logistics properties on the East Coast of the United States, which transactions involve due diligence, real estate acquisitions, land use analysis, ownership structuring, construction issues, leasing, environmental, compliance and remediation work.
• Represented a joint venture between a national data center operator and a private equity sponsor in its acquisition and leaseback of a portfolio of data centers in three states, valued at over $325M, from a global media company.  These leases require careful drafting to balance the joint venture’s right to reposition the assets for new tenants with the existing tenant’s right to continue to use the data centers. 
• Represent one of the top-two U.S. mall REITs in connection with real estate financing matters. These matters include large-scale new financings, refinancings, workouts, and receivership-related matters. Retail assets and retail real estate financing have become increasingly complex and volatile during and following the COVID-19 era, and Choate has successfully assisted this client with numerous complex financing transactions.
• Represented one of the largest independent soft-drink bottlers in the United States in the acquisition of a critical bottling facilities in Texas and Georgia.
• Represented a family office real estate owner and developer in connection with its disposition of existing hotel, hospitality and office park assets to a global real estate fund, including work in connection with permitting, earn out payments, and related tenant and abutter negotiations.

Having a dedicated team for the entire development process means greater efficiency and seamless, effective transitions from one stage of project development to another. Choate’s real estate team covers the entire life cycle of a real estate development, including assisting with diligence on potential sites, acquisition, zoning and permitting, construction financing, condominium creation, leasing, permanent financing, and disposition. Our team is equipped to handle a wide variety of projects, and has experience with every asset class. We draw on our extensive local and national contacts in the development community to provide practical insights and results for our clients.

Representative Engagements:

• Represent a significant Massachusetts family office for a Brazilian corporation with an enterprise value in excess of $5B. Our representation includes acquisition, disposition, and leasing of real estate in Massachusetts, including an acquisition in 2024 of six prominent mixed use properties in the Back Bay neighborhood of Boston. These transactions have established our client as a substantial owner in Boston.  Our work also includes luxury retail leasing matters with multiple national retailers and the redevelopment and construction at these properties.  We have also recently handled and prevailed on summary judgment in significant landlord-tenant litigation, including multiple appeals by a tenant where our work was key to obtaining prompt dismissals.
• Represent Millipore Sigma, EMD Millipore and several of its U.S. affiliates in matters of corporate real estate across the United States.  This includes ongoing industrial, office and laboratory property acquisitions and sales, leasing, development, sale-leasebacks and property management matters. 
• Serve as development, permitting and finance counsel to Cabot, Cabot & Forbes (CC&F) on premier mixed-use and multifamily developments throughout New England and in the metro Boston area.
• Counsel on a 200-unit multifamily development under the Commonwealth’s transit-oriented development laws.

Our Real Estate Group advises lenders, investors, owners, tenants and developers on a wide range of distressed real estate transactions and disputes, including acquisitions and dispositions, loan workouts, equity buyouts, foreclosure and bankruptcy and restructuring strategies. Our practice is national and involves virtually every asset class.

Representative Engagements:

• Represented Grander Capital in critical lease default legal claims and defense matters. COVID-related leasing disputes were at the heart of Class A and Class B suburban office landlord/tenant transactions, and Choate is assisting with multiple actions on behalf of this landlord client, as well as many other landlords and tenants.
• Represented a major life insurance company in negotiating a workout of distressed loans on office buildings in Washington, D.C., successfully achieving an exit with a savings of tens of millions of dollars to the loan parties.
• Represented Bank of America in connection with precedent-setting credit facilities that were made to Rite Aid Corporation subsidiaries.  Our Real Estate Group handled real property diligence for over 100 property locations, advised the bankruptcy deal team, oversaw dozens of store dispositions, and created fee and leasehold mortgages as part of the collateral package.
• Acted as counsel for a junior lender bidding on foreclosure assets in a developer insolvency matter, including advising on potential litigation strategies and creditor rights issues.

From household-name corporate headquarters leases to mixed-use and retail portfolios and major industrial and data center assets, we represent both landlords and tenants in lease transactions of virtually every type and nature throughout the U.S. Our leasing team has deep experience with leases of corporate campuses, life sciences and biotech laboratory spaces, hospitals and other healthcare centers, retail, sports facilities, hospitality, office parks, industrial/logistics, and data centers. Our practice in this area includes, among other transactions, complex build-to-suit arrangements, sale-leasebacks and ground leases. 

Our Real Estate Group also has industry-leading experience buying and selling lease portfolios and assisting on all leasing aspects of M&A transactions.

Representative Engagements:

• Represent Bain Capital in connection with its worldwide corporate offices, including its corporate headquarters lease which was recently renewed for over 378,000 square feet in a preeminent Class A office tower owned by BXP.  This transaction has enormous significance for the Boston office market and has established a new baseline for Class A office rents in Boston’s Back Bay. Our representation for this client also includes a recent ground-up office building in San Francisco and leasing deals for offices in New York. Choate provides high-level business advice and lease portfolio management for this client, providing our client with a broad perspective on major office tower leasing practices.
• Represent Whole Foods Market in negotiating for and developing prominent, anchor retail locations across the United States, which work includes leasing, construction, due diligence, and other real estate disciplines.
• Represent Millipore Sigma, EMD Millipore and several of its U.S. affiliates in matters of corporate real estate across the United States.  This includes ongoing industrial, office and laboratory property acquisitions and sales, leasing, development, sale-leasebacks and property management matters.
• Represent a Texas-based investor and developer of industrial, warehouse and logistics properties on the acquisition, development and leasing and sale of its East Coast properties.
• Represented Tribeca Holdings (UK) in connection with acquisition, mezzanine and senior financing and leasing to Apple Inc. of its Boston build-to-suit flagship store on Boylston Street in Boston’s Back Bay, as well as permitting, development, construction and leasing of luxury retail space to Chanel for its flagship Boston store on Newbury Street in Boston.
• Represented JPMorgan Chase Bank in connection with retail branch expansion in Greater Boston, New England and Washington DC, with totaling over 250,000 SF at approximately 125 leased sites (including flagship Boston branch office lease at The Prudential Center from Boston Properties).
• Represented Thomas H. Lee Partners in the renegotiation of its headquarters lease located in an office tower Boston owned by Boston Properties, together with contractual matters relating to its build-out requirements and construction contracts.

Choate’s environmental and land use practice is intimately involved in complex financing and acquisition transactions, governmental enforcement actions, litigation, administrative proceedings, regulatory compliance, brownfields redevelopment, environmental diligence, hazardous waste site cleanup, land use restrictions, pollution insurance, environmental audits, and zoning and permitting matters. Our areas of expertise include hazardous waste, solid waste, air emissions, wastewater discharge, vapor intrusion, toxic chemicals, mold, asbestos, lead paint, transportation, zoning, tidelands, wetlands, endangered species, environmental policy review, and land protection.

Representative Engagements:

• Represented NorthBridge Partners on its acquisitions of industrial, warehouse, and logistics properties on the East Coast of the United States, which transactions involve environmental due diligence, compliance with transaction-triggered environmental laws, and post-closing regulatory obligations.
• Represented an institutional investor in connection with hazardous waste site cleanup and climate-related liabilities related to prospective purchase and redevelopment of coastal oil terminal.
• Acted on behalf of manufacturing clients in resolution of state and federal enforcement matters related to alleged noncompliance with wastewater, hazardous waste, storm water, and air quality regulations.
• Represented real estate clients in connection with the brownfields redevelopment of derelict shopping centers and former industrial sites.
• Advise real estate, private equity, and investor clients on the acquisition, disposition, and financing of contaminated properties.
• Represent landlords and tenants in lease negotiations with respect to environmental, sustainability, and “green building” obligations.
• Advise electronics manufacturing client with respect to state and federal environmental permits related to expansion of manufacturing lines.

Our Real Estate Group delivers comprehensive legal services in affordable housing and residential multifamily development, guiding clients through the complexities of zoning, financing, compliance, and construction. With experience in federal, state, and local housing development, we assist developers, investors, and nonprofits in structuring public-private partnerships, securing tax credits, and navigating land use regulations. From concept to completion and from luxury to affordable, we help to bring innovative, sustainable housing projects to life, ensuring feasibility while advancing community goals. We offer strategic, results-driven solutions in today’s competitive multifamily housing development market.

Representative Engagements:

• Represent Alliance Residential in the acquisition, development, management, and sale of multiple luxury Boston metro and suburban multifamily developments. Alliance was ranked the number one multifamily developer in the U.S. in 2020 and 2023. Choate’s role includes serving as real estate, development, permitting and finance counsel, and all related project development work. Recent projects include permitting one of the first transit-oriented developments under Massachusetts’ highly publicized transit-oriented development laws, as well as the development and sale of multiple 200-300 unit multifamily projects in the greater Boston area.
• Serve as development, permitting and finance counsel to Cabot, Cabot & Forbes (CC&F) on premier mixed-use and multifamily developments throughout New England and in the metro Boston area.  Recent projects include:
  • Counsel to CC&F and Cannon Hill Partners in the $142.5M acquisition and redevelopment of 75 Mystic Avenue at Assembly Square in Somerville, MA. The redevelopment includes repositioning of the existing Home Depot and assemblage of the surrounding retail buildings. Choate represented the borrower in securing the senior and mezzanine financing from Centennial Bank and Lionheart Strategic Management as well as a record-setting crowdfunding equity raise.
  • Counsel to CC&F and Equity Residential on the Basin, a multifamily community of 440 residential units plus restaurant, recreation and other amenities on Lake Quannapowitt in Wakefield, MA.
  • Counsel on the Overlook in Boston, 660 residential condominiums and apartments. The project involves historic tax credits associated with restoration and incorporation of St. Gabriel’s monastery.
  • Counsel on a 200-unit multifamily development under the Commonwealth’s transit-oriented development laws.