Departments: Corporate: Real Estate

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Walter McCabe, Practice Group Head
Harvard Law School, 1986
800-951-4888 x7231
walter.mccabe@ropesgray.com

How big is our practice group?
21 lawyers (6 partners, 2 counsel and 15 associates).

Nick Madden (University of Virginia School of Law '03) is currently working on the acquisition of a large, urban health-care facility. He is also assisting a client in the formation of a business team to produce and distribute fuel at a leased site in South America. Nick recently assisted a client with a joint arrangement to manage an entertainment venue and another client with the formation of a joint venture to acquire hotel properties across the U.S. He has also worked on some of the larger projects undertaken recently by the Real Estate Group, including the mortgaging of child care facilities in multiple states for an acquisition loan.

Matt Terry (Boston College Law School '03) is currently working with a charter school in Boston on the development, permitting and legal structure for a new school facility. Matt is also assisting a private investment fund with the management of multiple portfolios of residential mortgage loans and a public pension fund with the restructuring of a joint venture investing in commercial real estate in the New York metropolitan area. He has recently assisted a private university endowment with the purchase of several timberlands in Oklahoma, Pennsylvania and Australia.

Jack Creedon (Boston College Law School '04) is currently assisting a large biotechnology company with the acquisition of a $100 million manufacturing facility on the West Coast. Work on this project includes analyzing local permitting, environmental and development issues, performing property due diligence and negotiating the purchase and sale agreement for the facility. Jack recently assisted a client with the acquisition of a four-star hotel in Paris, France. Work on this project included reviewing financing and acquisition documents, negotiating a joint venture agreement with the operating partner and negotiating hotel management and asset management agreements. Jack also recently negotiated a lease for office, laboratory and research and development space for a pharmaceutical client in Cambridge, Massachusetts.

Brad Maxwell (Cornell Law School '04) is currently working with a private investment fund to restructure its real estate investments in Japan, and is advising a Massachusetts municipality in connection with a major redevelopment project in the city's downtown area using District Improvement Financing under M.G.L. Ch. 40Q. Brad recently completed negotiations on a new manufacturing lease for a technology company. Brad regularly assists an energy company in its ongoing environmental remediation efforts in Everett, MA, and a pharmaceutical company in complying with its remediation obligations under CERCLA at a Woburn, MA, national Superfund site.

Megan Delehanty (Yale Law School '05) is currently assisting a New York charter school with both the purchase of a school site and the negotiation of a development agreement. Recently, Megan advised a Massachusetts town on how to qualify a project for Community Preservation Act funds. Megan has also worked on the formation of joint ventures to acquire commercial properties and has advised a private equity client on the implications of acquiring a target that had previously entered into sale-leasebacks for all of its facilities.

What do we do?
We assist our clients in acquiring, developing, and leasing large office buildings or other facilities, from site acquisition and permitting through financing. We represent institutional investors in real estate (such as pension funds, endowment funds and real estate hedge funds) in entering into joint venture agreements with third party developers and managers for the purchase and development of various types of real estate projects throughout the United States. We also work closely with the firm’s Private Equity and Debt Financing practice groups on the real estate aspects of major M&A/LBO transactions.

What have we done lately?

Currently represent several clients in the structuring, acquisition, servicing and subsequent management of an aggregate of over $2 billion in distressed residential real estate debt.
Represented CareGroup, Inc., in connection with the issuance of bond financing by the Massachusetts Health and Education Facilities Authority in the aggregate amount of $705 million to aid in both new construction and renovations of four major hospitals in the Metro Boston area.
Represented the Town of Westwood, Massachusetts' Planning Board in connection with its role as lead municipal permitting agency for the Westwood Station Project. Westwood Station is a planned 4.5 million square foot, $1.5 billion, mixed-use, transit-oriented redevelopment project. The project raised significant issues related to sustainable design and LEED certification, transportation management, environmental protection, and "new urbanism."
Served as lead borrower’s counsel for a $790 million securitized mortgage/mezzanine financing, involving 343 bar/restaurant locations in 36 states, in connection with the going-private acquisition of Outback Steakhouse and related restaurant chains.
Represented a major Boston teaching hospital in connection with the development of a 350,000 sq. ft. in-patient facility that included a below-ground connection to its existing hospital, 350 car garage, and its campus master plan as well as in the development of other ambulatory care and neighborhood health centers.
Represented a real estate investment trust in connection with its acquisition of the Boston Westin Waterfront. This transaction involved phased purchases and renegotiations of two separate ground leases and a sublease for hotel and retail use with the Massachusetts Convention Center Authority and the restructuring of a payment in lieu agreement with the City regarding real estate tax payments.

When do we meet?
Lunch meeting every two weeks.