Constructing Profits for a Pension Fund
A public pension plan determined they could profit from owning and renting out an energy efficient, LEED-certified commercial building in the St. Louis Metro Area. The only hook – the building didn't yet exist.
As longtime legal counsel to the fund, we helped them execute purchase and development agreements to purchase the land and build the building.
From joint venture agreements and construction contracts to zoning waivers and lease terms, we drafted almost every type of real estate contract imaginable. The pension fund is now owner of a $20 million commercial building that is 94% leased to a happy tenant. We helped the fund create a valuable asset out of thin air, so the fund can use its rent and equity to create pensions for its members.