By Christian Spesia
The public utility and transactional teams at Spesia & Taylor have participated in asset purchases and commercial real estate closings amounting to more than $45,000,000 in consideration since July 1, 2018. The majority of the total consideration resulted from two purchases of municipal sewer and water systems by a public utility client. Partner Christian Spesia and the public utility team worked with the client on the Asset Purchase Agreements, required governmental approvals, and all aspects of the closing documentation. He also worked closely with the municipality’s attorney in each transaction. “My background in municipal law is an asset in these transactions because I understand the statutory requirements for municipal transactions and the practical considerations related to municipal sewer and water systems,” said Spesia.
In addition to the utility purchases, Spesia and the transactional team handled five commercial real estate transactions over the last four months, including a complicated transaction related to the purchase, sale, and development of a Cooper’s Hawk Restaurant and a Pete’s Fresh Grocery Store in New Lenox, Illinois. Cooper’s Hawk is scheduled to open this Fall thanks to intense efforts on behalf of the Village, the Developer, and the construction partner, Northern Builders.
According to Spesia, “this may be the busiest 5 months of transactions in my 24 years of practice at Spesia & Taylor, but we were well-equipped to handle all aspects of these complicated transactions and to meet the deadlines required to bring them to closure.”
If you want advice or assistance on your asset purchase or commercial real estate transactions, contact Spesia & Taylor’s team of skilled and experienced attorneys today.