Lawyers have lives, and Maynard’s is music. Learn more about his role in the heyday of Charlottesville’s music scene in UVA Magazine’s winter issue.
FRIENDSHIP COURT REDEVELOPMENT FEATURED IN AFFORDABLE HOUSING NEWS
Huge shout out to affordable housing champion and longtime client Piedmont Housing Alliance on its recognition in the Summer 2021 issue of Affordable Housing News (see pp. 96-99). PHA’s collaborative approach brings local, state and national resources together with partners in the nonprofit, for-profit and government sectors to realize game-changing projects in the Charlottesville community. BS is happy to be on the roster.
Good news!
Congratulations to the Stewart Tool Company on the acquisition of its new manufacturing facility in Fluvanna County, Virginia. Boyd & Sipe represented the 4th-generation family business in the purchase of the former Kloeckner Metals facility, including due diligence, formation of the purchasing entity and closing on the purchase and financing. California-based Stewart Tool manufactures precision, custom equipment for the energy, aerospace, security and other industries. The company’s Fluvanna facility will serve its customers on the East Coast and create 22 new local jobs. We’re not alone in thinking this is a great outcome for the Stewart family and the Commonwealth!
BS SUPPORTS TOM TOM AND CACF
Boyd & Sipe teamed up with SolUnesco to host a panel discussion at this year’s Tom Tom Energy Innovation Conference on economic development opportunities in rural communities from clean energy development. Delayed (but not deterred) by Covid-19, Tom Tom is moving the party online in September 2020.
In the meantime, we’re reading Superpower, supporting the Charlottesville Area Community Foundation Covid-19 Emergency Response Fund, teaching the UVA Nonprofit Clinic online and helping our clients manage through the pandemic. Stay strong people.
Captains of…
Ever wondered how real estate counsel works in your industry? Here are a few examples of cool projects we have worked on over the past couple of years in the following industries:
Renewable energy
We provided real estate counsel for an international renewable energy company in acquiring options for 2,000+ acres of land for construction of utility-scale PV solar projects. Work included coordination of title and survey diligence for a 23-parcel assemblage, assistance in resolving landowners’ concerns and papering the land purchase options, leases and easements.
Manufacturing
We represented a medical supplement manufacturer in the acquisition and financing of >50,000 sft of manufacturing, warehouse and office space in Albemarle County VA. Work included closing the time-sensitive purchase, bridge loan and $5.55M SBA Section 504 permanent financing. The firm also was responsible for hiring and managing special Delaware counsel to handle corporate resolutions and closing opinions.
Financial institutions
We represented a regional credit union in expanding its commercial mortgage lending business. Our work included advice on title, survey, zoning, environmental and lease diligence, preparation of a form opinion letter, estoppel and SNDA, and advice on acquiring security interests in leases and personal property associated with the real estate.
Real estate investment and development
We closed $29.6M in credit facilities for a client’s acquisition, construction and permanent financing of the retail and medical office sections of a 70-acre master-planned development in Henrico County VA. Our work included negotiation of a nonrecourse carve-out guaranty by a borrower-affiliated fund, negotiation of nonstandard financial covenants and assignment of rights in additional collateral including letter of credit proceeds.
Health care
We represented a Virginia-based nonprofit health care system in negotiation of the lease and tenant upfit for a new 4,000 sft community health clinic.
Hospitality
We closed the sale and seller-financing of a boutique hotel/conference center in Lynchburg VA. Work included negotiation of seller financing documents, transfer of ABC license and negotiation of access, parking and utility easements for the future development of seller’s adjacent retained parcel.
Education
We represented a university’s IRC § 509(a)(3) supporting organization in the purchase of stream and wetland mitigation credits to offset new facility construction, including due diligence on the ownership and operation of mitigation banks and advice on compliance with private foundation rules.