WASHINGTON, D.C. – Jan. 9, 2019 — A team of Greenberg Traurig, LLP real estate attorneys successfully represented Ponte Gadea in the acquisition of an office building located at 1501 K St. NW, Washington, D.C. Ponte Gadea is Amancio Ortega's investment firm. The Greenberg Traurig team was led by Samantha Ahuja, with assistance from Nelson F. Migdal, Nicholas N. Palmer, and Rosemarie Salguero.
Greenberg Traurig negotiated the purchase agreement against the seller, a joint venture of J.P. Morgan Asset Management and JBG Smith; led the due diligence investigation, including scrutinizing title and survey and analyzing the lease agreements for the 401,000-square foot building; negotiated the property management agreement for the new owners of the building; and handled closing for the $385.4 million deal.
“Having worked closely with the buyer in this deal, we are so pleased that we were able to help our client identify and capitalize on an incredible business opportunity in Washington, D.C.,” Ahuja said.
Ahuja focuses her practice on hotel acquisitions, operations, development and finance, hotel management agreements, licensing agreements, and commercial real estate acquisitions and sales. She advises domestic and international clients on the acquisition and disposition of hotels and other commercial property, hotel management and operations, franchising, licensing and branding, restaurant management agreements, lease negotiations, and casino agreements.
Migdal, co-chair of the firm’s Hospitality Practice, focuses his practice on the acquisition and disposition of hotels, hotel operations and management, franchising, licensing and branding, development and finance, large mixed-use projects, hotel management agreements, licensing agreements, commercial real estate acquisition and sale, and commercial leasing.
Palmer also handles commercial real estate and hospitality matters. He represents clients in the acquisition, disposition, financing, development, and leasing of office, retail, and mixed-use buildings as well as the acquisition, disposition, management, franchising, licensing, and branding of hotels and resorts.
Salguero focuses her practice on a wide range of transactional matters in the real estate, hospitality, and restaurant industries. She advises clients on acquisitions, dispositions, management, franchising, licensing, branding, and leasing for a broad range of asset types including single building, shopping centers, mixed-use, and hotel projects.
About Greenberg Traurig's Real Estate Practice: The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive counsel for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 400 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, Latin America and Asia. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.
About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, was named the largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on the 2018 Am Law Global 100. Web: http://www.gtlaw.com Twitter: @GT_Law.