Steven J. Lurie

Partner
Fax 310-201-2395
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Real Estate Experience

  • Over a recent 12 month period, closed 38 loan transactions involving $644 million in loan proceeds on behalf of borrower clients
  • Represented shopping center owner in the purchase of its $26 million loan for $15.6 million, and in obtaining replacement financing for nearly the entire purchase price
  • Represented affiliate of J.S. Rosenfield & Co. in the acquisition of a 31-year ground leasehold interest in Coast Village Shopping Center in Montecito, California, and the concurrent sublease of a portion of the project back to the seller, Santa Barbara Bank & Trust, for 15 years
  • Represented Transpacific Development Company in the acquisition of a 270,000 square foot office complex in Orange County, California from Ford Motor Company. The office complex is fully leased to Taco Bell Corp. and Ford Motor Company. The purchase price and assumption of financial obligations under the Ford and Taco Bell leases brought the total transaction value to approximately $73 million
  • Represented affiliate of J.S. Rosenfield & Co. in the acquisition and financing of Larkspur Landing Shopping Center, a 173,000 square-foot retail center in Marin County. The center sits on 16 acres adjacent to the Larkspur Ferry terminal. The acquisition price was $65 million. The acquisition loan was obtained from City National Bank
  • Represented Malibu Lumber Yard, LLC in the acquisition, development and leasing of the Malibu Lumber Yard, a two story, approximately 30,000 square foot high-end retail center in Malibu at the intersection of Pacific Coast Highway and Cross Creak Road. We also represented this client in obtaining a $20 million construction loan from Wachovia Bank to finance the construction of the center.
  • Represented a developer in (a) the acquisition, financing, construction, leasing and all other aspects of the development of the Claremont Village Expansion Project, a 125,000 square foot specialty lifestyle center featuring retailers, restaurants, a movie theatre complex, office space and a boutique hotel in the historic Claremont Village shopping district; and (b) the ground leasing, financing, construction, leasing and all other aspects of the development of the Metlox Project, an upscale retail project 3 blocks from the beach in Manhattan Beach’s commercial walking district
  • Represented an investor in the acquisition for $129 million of a seven property portfolio in Indianapolis, Indiana and Columbus, Ohio; the portfolio includes high-cube distribution buildings containing 3.15 million square feet of space; also represented the investor in obtaining a $76 million loan from Morgan Stanley to finance a portion of the purchase price
  • Represented a developer in the $50 million acquisition of two landmark properties in the San Fernando Valley: the Sportsmen's Lodge and the ground leasehold interest in the Sportsmen's Lodge Hotel
  • Negotiated joint venture documentation for a developer client with a global real estate investment firm for the funding of $120 million in land acquisition and development costs for high-end residential golf course communities; closed the partnership’s initial $60 million acquisition loan, initial $30 million construction loan, and subsequent $15 million line of credit; also represented the partnership in its acquisition activities; negotiated purchase agreements and option agreements on behalf of the partnership covering over 7,000 acres of land
  • Negotiated a loan modification agreement on behalf of a borrower client after the lender alleged that the guarantor of a $13 million loan breached a net worth covenant
  • Handled numerous purchase and sale and tax-deferred exchange transactions, including an exchange transaction involving shopping centers, industrial properties, and vacant land valued in excess of $180 million, and a multi-state, tax-deferred exchange transaction involving six properties for an investor client
  • Handled many office, industrial and retail lease transactions of various sizes for landlords and tenants, including a lease of a 1,000,000 square foot distribution facility to a Fortune 100 company, and a lease of an industrial facility for a public company tenant covering approximately 100,000 square feet; negotiated the termination of a lease for a non-profit community counseling center’s old headquarters, and a new full-floor office lease and construction documents for the improvement of its new headquarters