Johnson & Bell Shareholder, Joseph R. Marconi, and Real Estate Attorney, John D. Malarkey, recently concluded a complex real estate transaction that resolved litigation between warring stakeholders that highly benefited their client. The dispute between partners of a senior manufactured housing development wound its way from trial court, to arbitration, and then on to a forced sale by a trial court judge, to the appellate court, and finally, again, to another protracted arbitration hearing. The final transaction exceeded $60 million, almost three-times the initial valuation at the inception of the litigation. In this transaction, all but one partner wanted to sell their portion of the property. Johnson & Bell represented the party that sought to retain its one-third stake. The partners initially received a valuation for the property of $20-30 million, and were in litigation over the property’s final price. Subsequently, an investor indicated it was willing to buy the property for more than $60 million, but would allow Johnson & Bell’s client to retain a one-third ownership stake. As a result, the investor and Johnson & Bell’s client became Tenant in Common (TIC) partners. Mr. Marconi represented the client throughout its litigation related to the initial forced sale, appeal and arbitration of the property. Mr. Malarkey directed the real estate transaction, including the identification of the final partner and the sophisticated financial structuring that was required to get the transaction to the finish line.
About Johnson & Bell
Clients rely on Johnson & Bell to defend their interests in court. Since 1975, we have developed a reputation for providing legal counsel that accomplishes our clients’ business objectives. Building on a track record of success handling major catastrophic personal injury cases, Johnson & Bell continues to represent numerous clients across a broad array of business concerns. We work with clients to mediate, settle or litigate their business issues. In addition, our lawyers represent clients in a wide range of commercial transactions and commercial litigation in both State and Federal court, locally and throughout the country.