Real estate transactions.
Venable’s highly respected real estate practice assists nonprofits with complex commercial real estate transactions, including, among other aspects:
- negotiation of sale, purchase and lease transactions;
- preparing financial documentation; and
- obtaining land use approvals.
For instance, we represented the Special Libraries Association in the sale of its historic Washington, DC headquarters building and the purchase of its Alexandria, Virginia headquarters, and did the same for the Air Conditioning Contractors of America.
Real estate tax implications.
We advise nonprofits on the tax implications of real estate transactions, including, for instance, The American Institute of Architects.
We are currently representing Howard Theatre Restoration in a series of complex, sophisticated real estate and tax transactions involving both historic and new markets tax credits.
Venable has particular experience representing title-holding subsidiaries of tax-exempt organizations, including 501(c)(2) and 501(c)(25) entities, as well as single-member limited liability corporations. We are very familiar with the unrelated business income tax issues that surround the use of these entities, as well as the limitations on their activities.