Securing a New Home for a Public Pension System Headquarters
Nossaman assisted a large public pension system in its acquisition of a largely vacant office building in an underserved neighborhood to be used for its new retirement system headquarters.
Nossaman prepared the purchase agreement and negotiated the terms, handled the due diligence, negotiated the termination of two small remaining leases and prepared closing documents. Diligence was very compressed due to the unexpected appearance of a competing offer for the property, so Nossaman expedited reviews by outside consultants as well as internal reviews to meet the timetable. We are now working with the pension system in connection with architectural, mechanical, and construction contracts for the rehabilitation and renovation project as it prepares the property, notwithstanding the pandemic, for occupancy by mid-2021.