James W. Shindell
Partner
Bilzin Sumberg Baena
Price & Axelrod LLP,
Miami
Background: Graduate
of University of North
Carolina School of
Law
Practice areas: Real
estate and distressed property
Notable transactions: Represented DP
Property Holdings LLC in negotiating and
structuring of a $280-million construction
loan for the Epic project in downtown
Miami. Also represented America’s Capital
Properties in sales of an $82-million office
tower in Miami and a Tampa office park.
On market conditions: You can’t go two days
without someone calling to let you know
they have put together a $200-million fund
and are looking for product at 45-60 cents on
the dollar. Those deals are scarce because
you can’t make one without lender cooperation and most lenders aren’t there yet.
E. Zachary Rans
Partner
Shutts & Bowen, LLP,
Tampa
Background: Indiana
University School of
Law graduate
Notable transaction:
Negotiation of several
lease and construction contracts to
develop port terminals around the country
on behalf of a major international company
On contracting: Anyone involved in a construction project—whether owners, contractors or designers—should know about the
new contract forms resulting from the
American Institute of Architects’ 10-year
update just ended. It is critical for a contracting party to understand the implications
of the changes and modify as needed to protect the party’s interest.
Robert W. Barron
Shareholder
Berger Singerman, Ft.
Lauderdale
Practice areas:
Commercial real
estate, troubled loan
workouts, business
restructurings and
other business transactions
Major client: Levitt and Sons LLC
On market conditions: Florida is once again
experiencing an extreme downturn in the
homebuilding and residential markets.
However, the watchful investor with a long-term hold strategy should find numerous
opportunities to purchase real property assets
at significant discounts in 2008 and 2009.
On investment: For the long-term strategic
investor, Florida is an important market for
all product categories. Prudent investors
should carefully weigh price discounts, realistic hold periods with contingency planning
and timeless property fundamentals before
making any new acquisitions.
Harry M. Wilson III
Real estate department
head
Smith Hulsey & Busey,
Jacksonville
Background: Law
degree from the
University of Florida,
has spent entire career
with Smith Hulsey
and predecessor firms
Notable transactions: $1.5 billion in condominium construction loans throughout
Florida and Alabama between 2000-06,
more than 200,000 acres of timber purchases and financings, restructure of more than
$1.5 billion in real estate transactions
Major clients: Lenders, REITs, developers and
institutional owners
On market conditions: Condominium and residential markets will continue to deteriorate
in Florida. Commercial and retail will be flat
or decline, reflecting residential decline and
financial uncertainty. There will be continued instability of financial markets and institutions, which will most likely continue
through 2009.
Arthur J. Menor
Managing partner
Shutts & Bowen LLP,
West Palm Beach
Background:
University of Florida
law graduate, Chair of
the Florida Bar
Landlord/ Tenant
Committee of the
Real Property,
Probate and Trust
Law Section
Practice areas: Real estate leasing and complex loan workouts
Notable transaction: Commercial leasing
work for CityPlace office tower in West Palm
Beach and for a statewide portfolio of shopping centers
On leasing: Commercial lease forms have
become too long and complex, impairing
the ability to make deals. There is a need for
a shorter form that addresses the important
issues, but with brevity. It takes a lot of
experience and skill to trim the fat from the
typical current forms without also losing the
muscle and bone.
Robert S.
Freedman
Shareholder
Carlton Fields PA,
Tampa
Background:
Practicing real estate
law for 17 years, all at
Carlton Fields
Notable transactions:
Provided legal counsel for over 300 condominiums, subdivisions, timeshares and master-planned communities throughout Florida
On market conditions: Hopefully interest rate
cuts during the past several weeks, the federal economic relief package and the passage of property tax reform in January will
spur homebuyers, but I fear we will see a
recovery process that is longer than originally anticipated or contemplated.
Rulon D. Munns
Managing Partner
Bogin Munns & Munns,
Orlando
Practice areas:
Commercial real
estate and representation of lending institutions, developers and
corporations
Notable transactions:
Numerous shopping center deals as regional
counsel for Albertson’s
Major clients: Veranda Park, CenterState Bank
On entitlements: It is getting increasingly
complex to navigate the entitlements necessary for commercial development. As a
result, there must be adequate attention
given at the contract or drafting stage in
order to avoid conflict among the parties
as they work their way through the
required due diligence and applicable
contingencies. —REFLA
