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Texas Property Sells for Nearly $30 Million

News | July 1, 2014

A team of Kutak Rock attorneys led by Mercedes Dahlquist, a partner in the firm’s Omaha office, represented a multinational corporation in connection with the sale of a multi-tenant, multi-building property in Texas for nearly $30 million.

Dahlquist originally assisted the client to acquire four buildings in two Texas locations in 2008. The acquisition was split with the aid of Kutak Rock to sell the two buildings in southern Texas as a high value disposition as the buildings are in a desirable metropolitan office park location.

The deal proved particularly intricate as the multi-tenant property required an estoppel certificate from each tenant, as well as guidance to correct certain post-acquisition declaration amendments made by the governing office park association. Since the seller’s initial acquisition, the association’s counsel amended certain covenants and restrictions without proper authority from the parcel owners. Kutak Ruck assisted the association to sort out the documentation and confirm that proper authority was obtained in order to move forward with the sale.

Kutak Rock attorneys secured the buyer under contract in April 2014 and efficiently closed the sale in just 30 days. Dahlquist was supported in the acquisition and disposition by attorneys Terry Pool, Bruce Wilson, Tom Roubidoux, Joel Wiegert, Robin Clark, Dianne Pierson and Lisa Peters.