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DIRT ALERTS™ – March 2010

New Real Estate Attorney

Matt Impola joined our real estate team in December, 2009. Matt worked previously as corporate counsel with Continental Properties Company, Inc., and also with the real estate departments of Sidley Austin (Chicago), and Foley & Lardner (Milwaukee). Matt’s focus is on all aspects of real estate transactions including development, buying, selling, leasing, and financing as well as business organizational matters.

Weather Shield Mfg., Inc. Purchase

Tim Kronquist, Tom Rohan, and Katrina Lancelle assisted Weather Shield Mfg., Inc. in the purchase and financing of a manufacturing/distribution facility in Mosinee, Wisconsin. SNE Enterprises, Inc., an affiliate of Weather Shield, will remain the tenant in the building. Weather Shield is a member of the Schield Family Brands which include some of the largest window and door manufacturers in the industry such as Weather Shield, Peachtree, Crestline, and Visions.

Acquisition of Specialty Hospital

Davis & Kuelthau represented Hammes Company in the acquisition of a newly constructed 30 bed specialty hospital on the St. Luke’s Episcopal Health System campus in The Woodlands, Texas. The purchase price and capitalization of the project were approximately $37,000,000. D&K assisted Hammes Company in all aspects of the transaction, including leasing, financing, private equity raise, and corporate organizational matters. Brad Page was lead counsel for the transaction and Elizabeth Westlake handled the private placement matters.

Portfolio Sale to REIT

Brad Page and Matt Impola represented a client in the sale of a large portfolio of real estate assets to a publicly traded real estate investment trust. The total portfolio value was approximately $195,000,000. D&K handled all of the negotiation of the deal terms, preparation of documents, and closing of the transaction.

Senior Housing Facility Conversion

D&K represented Fiduciary Real Estate Development, Inc. in the conversion of a senior housing facility to a residential care apartment complex and the refinancing of project indebtedness. We prepared the requisite leases to the operator of the RCAC, the service agreement for the RCAC residents, and the management agreement with the RCAC manager. The total amount of the refinancing was approximately $9,500,000.