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Phillip Coover

Phillip N. Coover Partner

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Chicago T +1 312 849 8244 F fax +1 312 920 6144
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Phil is a partner in our Real Estate Transactions practice group, helping developers, asset managers, institutional investors, and private funds navigate complex real estate transactions. He focuses his practice on all aspects of commercial real estate, including acquisitions, dispositions, leasing, construction financing, and asset management.

Phil is a closer – having closed over a billion dollars in acquisitions, financings, and dispositions. Phil has extensive experience working with developers to bring projects to life, from acquiring land to securing construction loans, leasing assets, and managing ultimate dispositions. He also advises clients on capital raising, including structuring equity stacks, joint ventures, syndications, and private fund offerings.

In addition to dirt level transactional real estate work, Phil is skilled in navigating a wide range of issues related to financing, securities exemptions, and private placement documentation. He represents real estate investors, property managers, and business owners on both a local and national scale.

Phil is the founder and host of the popular “Real Estate for Breakfast” Podcast, where he interviews leaders across the real estate industry to discuss trends, challenges, and opportunities shaping the market today.

Experience

  • Lead real estate counsel for a liquidation trust established to benefit creditors and investors affected by a massive Ponzi scheme, responsible for overseeing the disposition of mixed-use real estate assets valued in the hundreds of millions across the Eastern Seaboard.
  • Counsel for a developer creating 20-30 triple-net lease assets in upstate New York, overseeing land acquisition, construction financing, triple-net leasing, and asset disposition, including the sale of a 10-unit portfolio to a REIT buyer.
  • Lead counsel for the acquisition and development of over 30 Montessori schools across the country. The work included handling the acquisition of existing facilities in redevelopment plays as well as raw land ground-up development, negotiation of construction financing, leasing on a pure triple net basis, and subsequent disposition of assets.
  • Representation of Sponsor for a real estate Growth Fund for investors to invest in real estate value add and development plays, including the creation of syndication/subscription documents, fund operating agreements, fundraising ancillary documents, and PPM, as well as handling the acquisition and disposition work for the Fund.
  • Counsel for ground-up multi-family development on Grand Avenue in Chicago near the anticipated Bally’s Casino. The work included the acquisition of existing improvements, coordination with separate land use counsel, acquisition loan followed by refinance to $30 million construction loan, and syndication documents for GP and LP groups, and negotiation with preferred equity investor group.
  • Representation of a client in the negotiation and handling of the $45 million construction finance of industrial property in Indiana, including negotiation of third-party development agreement.

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