Linda Koffman is a Partner in the Real Estate Practice at Smith, Gambrell & Russell LLP.
Linda S. Koffman concentrates her practice in structuring, documenting and closing a variety of complex real estate transactions including acquisitions and dispositions, leasing and real estate secured financing for all major commercial asset types: office, retail, industrial/warehouse and large multi-family projects. Koffman has represented private opportunity funds, pension funds, pension fund advisors, real estate owners, insurance companies, developers, institutional investors, lenders and asset management companies in transactions throughout the United States including Arizona, Connecticut, Florida, Indiana, Maryland, Nevada, North Carolina, Oregon, Tennessee, Utah and Washington.
Ms. Koffman also has significant experience with the telecommunications industry. Starting in 1988, she represented a cellular carrier and negotiated over 400 cell site leasing (both ground and rooftop installations) and co-location transactions. In the mid-1990’s, she represented XM Satellite Radio in its master lease program to build-out its national infrastructure. Since then she has represented numerous commercial landlords in cell site leasing transactions.
Represented a national investment advisor (as representative for a State pension plan), as landlord, in a 47,500 square foot office lease transaction in downtown San Francisco. The lease transaction included the drafting and negotiation of the lease document, work letter, storage space lease and balcony lease and included right of first refusal rights, right of first offer rights and rights of first availability on various other floors in the Building.
Represented State pension plan, as landlord, in lease transactions in a commercial high-rise building in Glendale, CA.
Represented national fitness company, as tenant, in lease transactions in San Antonio, TX and Costa Mesa, CA.
Represented the managers of the historic Culver studios in Culver City, California to acquire 50 acres of property in Albuquerque, New Mexico to develop a 500,000 square foot independent motion picture and television studio. The transaction included the formation of a joint venture, mezzanine and construction financing.
ACQUISITIONS AND DISPOSITIONS OF REAL PROPERTY
Represented Seller in sale of portfolio of five creative /office space buildings in Santa Monica for sale to institutional buyer in Texas. Portfolio was in excess of $90,000,000.
Represented Seller in sale of five “creative” office buildings. Each property had its own unique challenges (leasing issues, structure or systems issues, missing reconveyance deeds, etc.) to resolve before the entire portfolio of five properties was sole.
Represented Buyer in acquisition of US Postal Service Building in Santa Monica, CA.
Represented Buyer in the acquisition of a portfolio of industrial properties located in the States of Washington, California and Arizona with a total of over three million square feet of space. The value of the portfolio was in excess of $150,000,000. The representation provided included the negotiation of the purchase and sale agreement and the ancillary documents thereto, the real estate due diligence on the acquisitions and the closing of the transaction.
Represented Seller in disposition of thirty-six (36) office/warehouse buildings in Utah. The representation provided included the negotiation of the sale agreement and ancillary documents thereto and closing of the transaction.
ACQUISITIONS AND DISPOSITIONS OF ENTITIES HOLDING REAL PROPERTY ASSETS
Represented California county employee retirement association in the acquisition of all partnership interests in a Florida general partnership which owned forty (40) acres of improved real property located in Clearwater, Florida. Analyzed issues concerning ownership of property, drafted and negotiated all documentation, supervised all due diligence on the partnership, constituent entities and underlying real property and closed the transaction.
Represented a large California county employee retirement association and affiliates in the acquisition of membership interests of a Maryland limited liability company which owned improved real property in Maryland. The representation provided included analysis of issues concerning ownership of property by a pension fund, the drafting and negotiation of documentation to acquire the membership interests in the limited liability company, due diligence on the limited liability company and constituent entities, due diligence on the underlying real property, and closing of the transaction.
Represented major insurance company, as lender, in a $96,000,000 financing for the rehabilitation of a retail shopping center in Ventura County, California.
Represented a Texas real estate development company, as borrower, in a construction loan transaction with major California bank concerning the development of industrial/warehouse space in Orange County, California.
COMMUNICATIONS INFRASTRUCTURE AND CELL SITE LEASING
Represented PacTel Cellular in creating lease form and setting up lease negotiation guidelines. Negotiated about 400 cell site leases (ground installation, rooftop installation and co-location) throughout Southern California.
Represented XM Satellite Radio, as tenant, in the negotiation of master lease/license agreements for communications activities with the following landlord: The RREEF Funds, Lattice Communications, Midwest Tower Partners, CNS Microwave, Inc., Potomac Electric Power Company, Pacific Gas & Electric Company and TA Associates.
Represent landlords in lease transactions with various cellular carriers.
Fellow, American College of Mortgage Attorneys (ACMA), August 2013-present.
Executive Committee of the Real Property Section of the State Bar of California (May 1999 – January 2000).
Managing Editor, California Real Property Journal, Official publication of the Real Property Section of the State Bar of California (May 1999 – May 2003)
Executive Committee, Real Property Section of the Los Angeles County Bar Association Property Section of the Los Angeles County Bar Association, June 2009 – May 2013
Board of Directors, Jewish Partisan Educational Foundation, April, 2002-present
Board of Directors, Glendale Memorial Health Foundation, January 1999-January 2000
Board of Directors, Commercial Real Estate Women Los Angeles (CREW-LA), January 1999-January 2000
Private Party Negotiation on California Commercial Leases in a Covid-19 World, June 2020 republished by LAWORLD
California Continues to Impose Restrictions on Landlords, June 2020 republished by LAWORLD
Key Issues When Negotiating a Fitness Lease, November 2019, American Bar Association Real Estate, Trust and Estate Law Section, Probate and Property Magazine, February 27, 2020
Qualified Opportunity Zone Program, The Abstract, Spring 2019
Unique Issues in Leasing to a Cannabis Related Business, January 2018
Practice Tip: Beware Amending a Lease Where There Is an Existing SNDA, March 2018
Negotiating Cell Site Leases that Involve Redevelopment Issues, November, 2018
Avoiding the Most Common Mistake Tenants Make When Renewing a Commercial Lease, March 2017
How Technology is Reshaping the Real Estate Industry, May 2017
Strategies You Need to Know for Negotiating Cell Site Leases, July 2017
Online Technologies for the Commercial Real Estate Professional, November 2017
Lease Amendment – Avoiding the Most Common Mistake Tenants Make When Renewing a Commercial Lease
A Costly Error Many Landlords Make When Leasing to a Cellular Carrier
Green is Not Just for Conservation in California – What Real Estate Professionals Need to Know about the California Marijuana (Cannabis) Law
What You Need to Know About the Decline in Chinese Direct Investment in U.S. Commercial Real Estate, April 2017
Chinese Direct Investment in U.S. Commercial Property Likely to Continue, December 2016
“Investing in California Real Estate,” in A Guide to Investing in California in the Pacific Century (Hong Kong: Asia Law & Practice Publishing, 1997) (co-authored with Richard C. Mendelson).
Roundtable Leader on Cell Site Leasing, ICSC Law Conference, San Diego, December, 2019
Presentation to Corporate Counsel Group at ACMA Board of Regent Meeting, Miami, March, 2019
Moderator, Call with the Experts – “Prop 64 Passed-Now What?”, Los Angeles, CA, November, 2016
Moderator for three panels, Investing California Real Estate Conference, Bel Air, CA, October, 2016
Moderator for four panels, U.S. Forum for Direct Foreign Investors, San Gabriel, CA, June, 2016
Moderator for Private Equity Panel, Creative Finance Conference, Los Angeles, September, 2014
Visiting Instructor, UCLA, Undergraduate Honors Seminar entitled “Legal Aspects of Buying and Selling Commercial Real Estate in the United States”, UCLA, January 2010-November 2014