Doing What's RightEllis, Li & McKinstry PLLC

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Real Estate

Our attorneys have vast experience in all areas of real estate, from reviewing residential purchase and sale agreements to drafting and negotiating complex commercial transactions. Our attorneys can draft, review or negotiate leases and easements and will assist our clients with the platting process, real property tax issues and municipal land use issues. Our litigators will seek to solve disputes involving commercial and residential leases, disputes arising from the purchase/sale of property, boundary line disputes and foreclosures. If resolution cannot be achieved, our lawyers will be your advocate and zealously represent you in a court of law.

ELM lawyers who practice real estate law:

Representative matters:

  • We negotiated a long term ground lease for our clients who own prime property in a key and rapidly growing commercial/retail downtown area. As the area evolved and a major mixed use development project took shape, we were integrally involved in negotiations for lease amendments requested by the lessee/developer, and obtained for our clients key provisions and additional guarantees in the event of a default of the lease. The project raised new and complex issues of law related to major multi-use, integrated structures subject to ground leases and third-party lenders, and the practical effect of a default. As a result of our work, our clients have enjoyed a significant and stable stream of rental income with considerable increases over time and unparalleled leverage for a future sale of the property at a greatly enhanced price.

  • We have assisted multiple clients in purchasing commercial property in foreclosure proceedings. These transactions have often involved complex negotiations with sellers, lenders, and other creditors, and resolving difficult title issues. Through the process, our clients have been able to acquire prime commercial office buildings at very advantageous valuations.

  • We represented a preservation and development authority in negotiating and closing over a period of several months a very complex multi-party and multi-faceted transaction. Some of the aspects of the transaction included prepayment of debt from tax-exempt bond proceeds; negotiation and repurchase of a multi-use building; negotiations for ground lease terminations; assignment of commercial and residential leases; sale of real and personal property; and extensive negotiations to obtain necessary government consent for several parts of the deal.

  • We represented a private university in connection with construction of a large apartment complex for its students. The transaction involved the creation of an independent nonprofit, tax exempt housing corporation to build, finance, and operate the apartment complex through the issuance of $10,000,000 of Washington State Housing Financing Commission tax-exempt bonds. The university entered into a ground lease with the nonprofit corporation to provide the land for the project. At the end of the 30-year term, the apartment complex will become the property of the university. The transaction also involved obtaining a real property tax exemption for the project on the university's behalf.

  • Our client bought a newly built "dream" home, but not long after moving in, discovered that the home was settling considerably, causing significant cracking of the interior dry wall. Outside the home, the paved walkways and driveway settled unevenly, causing major cracks in the pavement and potentially hazardous conditions. The task of remedying these problems would be very expensive. The builder would not acknowledge responsibility, and we had to file a lawsuit on behalf of the homeowner. With the help of an expert structural engineer we were able to pinpoint the causes, and presented these to the builder early in the process of the lawsuit. The evidence was compelling, and we were able to persuade the builder to pay for the costs of repair to the interior of the home, and to replace the damaged pavement around the home. Both sides "won." Our client had the problems corrected quickly, and the builder was able to avoid lengthy and expensive litigation.