Thomas J. Denitzio, Jr.

Representation of the purchaser in its acquisition of a Newark, NJ commercial property and conversion of the facility into an art storage warehouse. With assistance from members of the firm’s land use and environmental groups, negotiated the purchase and sale agreement for the transaction, pursuant to which the seller obtained land use approvals for the change in use at the site. Our team guided the purchaser through the due diligence, environmental compliance and land use approvals processes, and also assisted the purchaser in the refinancing of an existing property to fund the acquisition. 

Representation of a leading real estate industry group on the development of its new headquarters location in southern NJ. The firm's broad-based work included the negotiation and structuring of a complex redevelopment agreement with the local improvement authority; advising on land use approvals, property tax abatement and other economic incentives; negotiation of agreements with the general contractor project architect; advising on the environmental remediation of the site; access and parking easements in connection with the shared use of parking facilities at the site; and closing on the site acquisition

Advised the mortgagor on the refinance of its existing mortgage debt on a major warehouse property in Newark, NJ. The deal involved the structuring, negotiation, documentation and closing of a $14,000,000 first mortgage loan and a $3,000,000 second mortgage loan from M&T Bank, both of which are guaranteed by the mortgagor’s principal and affiliates. The proceeds were used to pay off existing mortgage debt and to fund the acquisition and renovation of a new site for the client in Newark.

Advised the seller on the sale of three industrial warehouse buildings in Newark, with an aggregate value of $48,000,000, as part of a $76,000,000 corporate transaction in which a public company acquired both the stock in our client’s operating business and fee title to our client’s real estate. The team, assisted by our environmental group, negotiated the real estate provisions of the stock purchase agreement for the deal and separate purchase and sale agreements for each real estate asset. We guided the client through the title review, environmental review and bulk sale compliance processes, provided counsel regarding the assumption and satisfaction of certain mortgage debt, and worked successfully with the buyer’s attorney and our client’s corporate attorney and investment banker to conclude the multi-property real estate closing simultaneously with the stock purchase closing.