Denise A. Pursley

/My focus

I focus on real estate acquisitions and dispositions, leasing, development, management and debt and equity financing for all asset classes. The industries with which I work vary from commercial real estate developers to health care facilities to institutional investors to energy providers and telecommunication companies. Typically, the projects on which I work are complex or of strategic importance to our clients and may be located anywhere in the country.

Acquisition/Disposition/Leasing/M&A

I have substantial experience in all facets of acquisition, disposition, leasing and mergers and acquisitions. A hallmark of my practice is to assemble and carefully lead selected teams to undertake sophisticated due diligence projects. For example, I have coordinated real estate due diligence and closed projects that run the gamut from the purchase of equity interest in a wind farm tax equity limited liability company with projects in five states to the purchase of a national supermarket chain with more than 230 properties under ownership, lease or sublease.

Environmental Projects

Some of my favorite projects have been working to bring new life to environmentally contaminated properties and brownfields. Adaptive re-use of property can revitalize an entire neighborhood. A typical project would be the sale of a facility that is a federal or state superfund site, inactive hazardous waste site or former industrial facility. Recently, I worked closely with a client’s internal and external team of business, real estate and environmental professionals to negotiate the sale of a former industrial facility for commercial re-use in a downtown area on terms and conditions that satisfied state regulators and allowed the purchaser to achieve its development goals. My combination of real estate and environmental experience makes me the ideal lawyer for these complex projects.

Energy Projects

I also provide critical advice on real estate and environmental issues associated with electric, gas and renewable energy projects. I’ve represented project developers and equity investors in wind, solar and geothermal energy facilities coast-to-coast. These complex deals involve real estate, environmental, zoning, land use entitlement and governmental permitting and require me to work collaboratively with our multi-disciplinary client teams.

/Representative experience

• Represented an affordable housing developer in the $170 million acquisition and redevelopment of a 30-story building in the DUMBO neighborhood of Brooklyn, NY into a 550-unit supportive housing facility, including financing by the City of New York Department of Housing Preservation and negotiation of a zoning lot development agreement.
• Represented Chinese developer in the $390 million purchase of a multi-lot waterfront development site adjacent to Manhattan’s historic South Street Seaport district and approximately 818,000 sf of transferable development rights without height restriction and a zoning lot development agreement.
• Represented the developer of one of the largest solar energy production facilities in New York in the acquisition and redevelopment of a 150-acre private golf course in Suffolk County, NY, into a 24.9 MW solar facility, including obtaining land use and zoning approvals from the Town of Brookhaven.
• Represented the New York City Economic Development Corporation in a potential 99-year lease of the Battery Maritime Building in lower Manhattan for redevelopment into a hotel, restaurant, and related uses.
• Represented publically traded company in a build-to-suit lease of a 702,000 sf industrial/warehouse space in Rialto, California.
• Represented U.S. subsidiary of an international defense, aerospace and security company in a build-to-suit lease of a research and development and light manufacturing facility in Huntsville, Alabama.
• Represented developer in the acquisition and development of a $1.584 billion, 1,100 MW natural-gas-fired plant to be built on a former industrial site in the mid-Hudson Valley region of NY.  Representation included the negotiation of a long-term option to purchase agreement, multiple off-site leases, transmission right-of-way and easement agreement with public utilities.
• Represented national not for profit corporation in the sale of an approximately 125-acre site of a former rehabilitation facility located in Westchester County, NY.
• Represented institutional owner of 350,000 sq. ft. midtown Manhattan office building for all leasing, financing and property management.
• Represented institutional owner for leasing of more than 2 million sq. ft. of industrial/warehouse property in New Jersey.
• Represented international bakery company in the restructuring of owned and leased manufacturing, warehouse and distribution facilities in New York and New Jersey.
• Represented a U.S. top 50 insurance provider in multi-state leasing and subleasing transactions totaling more than 300,000 sq. ft. to date, including more than 133,000 sq. ft. in a historic New York City building for company’s headquarters.
• Represented purchaser of a $63.5 million midtown Manhattan office building and associated $62 million mortgage loan.
• Represented private owner in connection with the sale of a prominent Long Island hotel and convention center.
• Represented major investment bank in tax equity investment of multi-state wind facilities throughout the West and Midwest.
• Represented major investment bank in tax equity investment in a geothermal power facility in Arizona.
• Represented pension fund in the $62 million acquisition of an office/hotel complex in Basking Ridge, New Jersey.
• Represented private utility company in the negotiation of an option agreement for 132 acres in the state of New York for the development of a 1,000 MW natural gas-fired electric generation plant.
• Represented Westchester County hospital in the acquisition of a bankrupt hospital consisting of 12 separate parcels located in New York City and Westchester, including all environmental, title and land use due diligence, negotiation of PSA and option to sell back a portion of the property, purchase money financing and closing of title.
• Represented special servicer in connection with distressed and non-performing assets, including loan modifications, sale of loans and foreclosures.
• Represented utility in negotiation of an underwater high-voltage, direct current line and fiber optic cable in Long Island Sound.
• Represented institutional owner in the sale of a shopping center in Cherry Hill, New Jersey.
• Represented utility company in the sale of a former liquefied natural gas plant on Staten Island for development as a NASCAR race track and shopping center.
• Represented pension fund in the sale of a Class A office building in Stamford, Connecticut.
• Represented natural gas company in real estate and condemnation work in connection with a gas pipeline expansion project in New York State.
• Represented energy joint venture in connection with local land use and real estate work for a proposed underwater interstate natural gas pipeline intended to serve Long Island, New York City and Connecticut.
• Represented defense contractor in the sale of a former defense manufacturing facility in New York State.
• Represented hospital in the lease/buildout of approximately 225,000 sq. ft. of medical office and ambulatory surgery space in a former corporate headquarters/manufacturing building.
• Represented private company in the sale of a hotel in Islip, New York.

/Looking ahead

Healthcare-related real estate work continues to be very active as the healthcare industry reacts to the implementation of governmental programs. I have developed a deep understanding of the industry from years of working with hospitals, physician groups and others in the healthcare industry that enable me to provide practical advice to my clients. I also expect to see more adaptive re-use of excess retail assets that are returning to the market as a result of business model adjustments and right-sizing of footprints by retailers.