On June 23, 2023, after two years of hard work, Leech Tishman Real Estate attorneys John M. Haschak and Andrew J. Schellhammer closed the acquisition of a central Pennsylvania mall complex including approximately 135 acres of land and 800,000 sq. feet of floor area.
This distressed asset acquisition involved extensive negotiations with the Seller’s senior secured creditor and equity holders, evaluation and/or resolution of over 150 title exceptions, amendment of ECRs (easements with covenants and restrictions) and other property documents, as well as the negotiation of lease terminations and/or relocation of existing tenants to facilitate future development. The property will be redeveloped as a regional power center anchored by national big-box tenant(s) with hospitality and entertainment components.
Leech Tishman’s Transaction Team consisted of:
- John M. Haschak: Lead counsel, deal structure and negotiation, and financing
- Andrew J. Schellhammer: Title, loan document review, and tenant issues
- Forrest T. Passerin: Operating agreements
- Alysia L. Libby: Title review
- Alexander J. Gase: Tax components of operating agreements
- Bill A. Buck: Bulk sales compliance consultation
- Ryan O. Hemminger: Litigation consultation.