Karla MacCary has more than 20 years of experience in real estate transactional and financing matters, and serves as Chair of Nossaman's Real Estate Practice Group. She represents developers in the acquisition and disposition of such projects as office buildings, hotels, condominiums, industrial properties, retail centers, mitigation properties, apartments, and undeveloped land. She also represents governmental agencies in the acquisition and leasing of real property for various uses.
Additionally, Ms. MacCary also represents landlords, tenants, and governmental entities in leasing of commercial and industrial properties as well as ground leases. She also represents lenders, developers, and joint ventures in loans secured by real property including loan modifications and enforcements, and in equity financing, as well as loan assumptions and defeasances of securitized loans.
Representative Work
Orange County Transportation Corridor Agencies. Key member of the Nossaman team advising the Agencies in all of their real estate needs. A lead attorney in negotiating the acquisition from The Irvine Company of almost all of the right of way for the Eastern Transportation Corridor. The lead attorney responsible for the acquisition of two conservation easements and right of way from the Santa Margarita Company. Lead attorney in the acquisition of an office building for the client's administrative headquarters. Primary attorney in negotiating an option to acquire right of way through the Marine Corps Base Camp Pendleton. Advised with utility relocations work and landlord-tenant issues.
333 Market Street. Lead counsel for a group of Asian investors in the acquisition of an office building, one of the largest U.S. commercial real estate transactions of 2010, including obtaining a $206,000,000 loan. Negotiated purchase agreement, performed due diligence, and negotiated loan documents.
Port of Long Beach. Represented the Port of Long Beach in negotiating a ground lease extension for Port lands, and in negotiating an option for a long-term ground lease of an additional parcel. Represented the Port of Long Beach in negotiations to acquire the Long Beach World Trade Center for the Port's administrative offices.
Rowan Lofts. Represented the developer of the Rowan Lofts in the simultaneous auction of the condominium units in its first Phase of sales. This successful auction to 63 units resulted in around $23,000,000 of proceeds.
Downtown Properties. Represented the developers of the Douglas, Rowan and El Dorado Buildings in downtown Los Angeles. Work included negotiating purchase agreements, negotiating and drafting parking easements and covenants, and performing due diligence. Such properties are being or were completely renovated and are old buildings in downtown Los Angeles being adapted for residential use. Represented the company in negotiating and documenting acquisition, mezzanine and construction loans, including addressing ground lease issues. Representing the developer in obtaining DRE public reports, forming the owners' association, and drafting Condominium CC&Rs and sale documents. Represented the developer of the Douglas Building in leasing all of the building's retail space. Represented the owner of several downtown Los Angeles office buildings in refinancing loans and in defeasing securitized loans.
County of Los Angeles. Currently engaged by Los Angles County to assist its Department of Auditor-Controller in the audits of over 70 former redevelopment agencies mandated by Health & Safety Code Section 34182. Ms. MacCary is reviewing and advising the County on the enforceability of various debt obligations listed on the Recognized Obligation Payment Schedules prepared by the successor agencies. She is also advising the County on creative solutions for resolving issues not fully addressed by ABx1 26.
Guaranty Bank. Represented this bank in the foreclosure of several development projects in Southern California.
Anaheim Hotel Partnership. Represented the owner of the Anaheim Hilton, the largest hotel in California with over 1,570 rooms, in negotiating a restructure of over $125,000,000 in loans secured by a ground leasehold interest, in negotiating a construction loan for a multi-million dollar refurbishment of the hotel, in exercising the purchase option under the ground lease, and in refinancing $142,000,000 of loans upon acquisition of the fee.
Metro Gold Line Construction Authority. Attorney for the Authority in the development of a joint development program and in the disposition of a parcel of land adjacent to a future station site.
Merryvale Vineyards. Represented this winery in the acquisition of additional vineyard lands and development of a new winery. Representation included the negotiation and documentation of wastewater easements and reciprocal easements, resolution of agricultural issues and contracts, and the negotiation of CC&Rs. Represented the winery in an agricultural loan as well a construction loan and lines of credit.
Juliana Vineyards. Represented this entity in the acquisition of hundred of acres of vineyard property, obtaining an agricultural loan, studying water rights, negotiating Grape Purchase Agreement and addressing ground lease issues.
The Pacific Lumber Company. Lead member of the Nossaman real estate team for the sale of the Headwaters Forest to the federal government. This was a unique transaction involving sensitive resources and the need for the seller to retain certain rights in order to continue operations on its retained lands.
Forest Lawn Memorial-Park. Represented the company in the procurement and granting of conservation easements to a governmental agency. Negotiated a Restoration Contract and a Restoration Management Agreement for a project to restore sensitive habitat, adapting a construction contract and construction management agreement to meet the unique requirements of this project.
United Surgical Partners. Represented this company in the negotiation and documentation of several build-to suit leases of a multi-million dollar new hospitals and a medical office building. Also advised with respect to the construction contract with the general contractor.
Vaquero Partners. Represented the client in a multi-million dollar acquisition of a one-half working interest in two oil and gas leases in the South Belridge Oilfield in Kern County, one of the largest oil field in the country including Alaska. Formed the limited partnership buyer and the limited partner equity participant. Drafted the offering memorandum and handled the securities laws issues. Negotiated two loans secured by the oil and gas leases and by partnership interests. Represented the client in multi-million dollar acquisitions of oil and gas interests in the Rocky Mountains.
Petrorock Energy. Representing the founder is all aspects of formation including ownership structure, governance, transfer of oil and gas interests to the entity, and drafting of organizational documents, conveyance documents, employment agreements and consulting agreements. Also represented the company in negotiating a multi-million dollar line of credit and in a rights offering.
Goldrich & Kest. Represented this real estate investment and development company in several multi-million dollar financings and refinancings, as well as assumptions of securitized loans. Also represented the company in the defeasance of several securitized loans. In addition to negotiating the loan documents, addressed issues involving ground lessor estoppel and consent, and obtaining subordination agreements from existing tenants.
Iron Mountain. Represented this company in several acquisitions of commercial and industrial properties in California and in leasing matters, including build-to-suit leases.
Healthcare Partners Affiliates Medical Group. Represented this medical group in making a multi-million dollar loan secured by a medical facility in Los Angeles.
California Primary Physicians Property Group. Represented this medical group in drafting a standard form of lease for a medical office building in Los Angeles owned by the medical group.
Cotton Medical Center. Represented this investor group composed of doctors in the refinance of a multi-million dollar medical building in Pasadena.