Tina Wilcox concentrates her practice on “dirt” law and real estate finance. Her focus is both in guiding clients through the transaction—including purchase, sale, leasing and financing of real property and land—and developing both an exit strategy and identifying business issues that may arise during ownership or leasing that would affect clients.
What do you focus on?
My practice is transactional in nature and because of my years of experience I not only deal with “customary and traditional” transactions, but also those which are both sophisticated and complex. These means I have managed transactions that are simple purchase and sale transactions as well as portfolio transactions and have worked with layering of financings. The assets that are included in those transactions range from apartment complexes to shopping malls to golf courses to warehouses. These transactions frequently have ground leasing, mezzanine or other investor financings. I also have extensive experience in the sale or purchase of mortgage loans and structured financings associated with those transactions as well as the more traditional origination of mortgage debt, equity financing and assumptions and servicing of mortgage loans.
Leasing and subleasing also are part of my customary portfolio of ongoing matters. Included within my practice are those transactions that have layers of issues where I can bring my experience and add to the mix by folding in those lawyers in the firm’s Affordable Housing and Tax Credit Finance and Syndication groups, among others.
What do you see on the horizon?
Having been the former Real Estate Practice Group Leader of the firm, one of my continuing strengths and interests is anticipating developments in our industry and helping to focus our growth and training in areas where clients may be headed. No question that changing demographics and an era of significant wealth accumulation, followed by a financial readjustment, have affected the real estate industry, both as to the value of assets and the financing of those assets. Currently we see changes in higher education and seniors housing and our group is active in those areas. Many of our nonprofit clients need to monetize their assets and, thus, they are more active in the real estate environment. This uptick allows me to assist them in navigating development and financing opportunities. Because financing of real estate acquisition and development is harder without multiple sources of equity and debt, I provide real estate advice and support to our practices and clients which focus on development with government assistance through credits, grants and insurance. I suspect that the absence of readily available mortgage financing to refinance the billions of dollars of existing debt, which will mature in the next 16 months, will continue the pattern of additional workouts and modifications of loans and the availability of REO property and the sale of mortgage debt.