Troutman Sanders counsels Crescent Communities
Troutman Sanders counsels Crescent Communities on the sale of two southeast luxury communities, Crescent Central Station of Orlando and Crescent SouthPark of Charlotte.
The transaction is part of the portfolio sale of nine newly-constructed luxury multifamily projects located in Tampa and Orlando, FL; Atlanta, GA; and Charlotte, Raleigh and Durham, NC. Troutman Sanders has represented Crescent on virtually all aspects of the project, including the drafting and negotiation of the listing brokerage agreement with CBRE, Inc. and the drafting and negotiation of separate purchase and sale agreements with Berkshire Property Advisors, LLC (six properties) and affiliates of UBS Realty Investors LLC (three properties), for an aggregate purchase price of approximately $700M.
Charlotte partner Walter Fisher, assisted by Charlotte associate Michael Andersen, led a team of lawyers located in the firm’s Charlotte, Raleigh, Washington and Atlanta offices in handling various aspects of these transactions.
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