Partial Conversion of 58-Story Office Tower into Residential Condo

America's Capital Partners (ACP)

Representation of America's Capital Partners, owner of Two Liberty Place, a 1.2 million-square-foot, 58-story office building in downtown Philadelphia, Pennsylvania. We assisted in the conversion of one-third of the office tower into residential condominium units in order to monetize what had been vacant office space. The tower was zoned for office and retail use only; we amended the lease with Cigna, the building's key tenant, to permit the conversion.

John C. Sumberg
Founder, Chairman
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...
Analyzed cleanup strategies in order to resolve soil and contamination issues on homebuilder client’s property in Broward County, Florida. Negotiation with the Broward County Environmental Protection Division to obtain a restrictive covenant to allow for residential development on the property.
Representation of real estate investment company in connection with the environmental investigation and remediation plan for a five acre residential community and golf course. Successfully determined scope of assessment and provided recommendations for final remediation plan while representing clien...