Linda A. Striefsky

Practices

• Real Estate
• Commercial & Public Finance

Professional Experience

Linda is a partner in the firm's Real Estate practice group. She is co-chair of the Real Estate Finance Team and chair of the Global Sourcing & Procurement Team. She focuses her practice on acquisitions and sales; real estate financing, including real estate investment trusts and multi-state financing transactions; corporate facilities management, including out-sourcing contracts; leases (including oil and gas leases), easement and related agreements; real estate taxes, including tax complaints, exemptions and abatement.



Linda is a Past President of The American College of Real Estate Lawyers, the premier honorary organization for commercial real estate lawyers in the United States. She also is a member of the Anglo-American Real Property Institute, which has a membership limited to 50 commercial real estate professionals from each of the United Kingdom and the United States and a full member since 1996 of the Urban Land Institute.

Linda has earned high praise from clients in several national ranking publications, including Chambers USA: America's Leading Lawyers for Business and The Legal 500 United States. Those surveyed cite her "excellent reputation" in handling real estate financing matters and describe her as "highly knowledgeable, a persuasive negotiator and quick on her feet." Clients commend her professionalism and substantial legal skills, calling her "one of the most technically competent attorneys in Ohio" who is "at the highest pinnacle of excellence when it comes to her technical ability." Also known as an "excellent negotiator with an eye for detail," she earns high marks for being "hugely talented and very bright."

Education

• Georgetown University Law Center, J.D., 1977
• Marywood College, B.A., 1974, summa cum laude

• Real Estate and Commercial Financing
• Represented NYSE-listed REIT in connection with conveyance of three shopping centers from joint venture to entities wholly owned by the REIT, including release of assets from  existing $370.5 million portfolio loan with institutional life insurance company and inclusion of assets in different existing $350 million portfolio loan with same lender.
• Represented NYSE-listed REIT on $350 million mortgage loan, secured by six shopping centers located in four states and Puerto Rico, from a national life insurance company.
• Representation of NYSE-listed REIT in connection with $85 million mortgage loan, secured by four shopping centers located in Puerto Rico, from a national life insurance company.
• Represented shopping center owner on $165 million long-term, multi-state portfolio financing, secured by seven shopping centers.
• Represented automobile manufacturer's financial services division as lender in over $200 million in construction and mortgage loans to dealers and franchisees, secured by automobile dealerships and other property located in California, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Massachusetts, Minnesota, New Jersey, New York, Oklahoma and Pennsylvania.
• Representation of major financial institution in forbearance agreement and amendment to $23 million construction/mini perm loan in Idaho and in several other forbearance/loan amendment transactions.
• Represented agent bank on two negotiated pre-bankruptcy workouts of multi-state owner and operator of assisted living facilities, including coordination with borrower of sale of assets in various states.
• Represented a global real estate advisory firm in equity fund formation and in structured real estate transactions involving the acquisition of multifamily housing developments located in Arizona and Washington.
• Represented agent bank on syndicated $81 million loan for term and construction loans on seven assisted living and skilled nursing facilities in four states and amendment increasing facility to $99 million and adding additional construction loan.
• Represented agent bank on syndicated $31 million construction loan for medical office building on university campus in Louisville, Kentucky, secured by leasehold mortgage.
• Represented lender in amendment to $23 million credit facility secured by mortgages on nursing homes in Ohio.
• Represented lender on $17 million construction loan for medical office building and surgical center on hospital campus in Jersey City, New Jersey, secured by leasehold mortgage.
• Represented lender on $18 million construction loan for medical office building and surgical center on hospital campus in Newport News, Virginia, secured by leasehold mortgage.
• Represented lender on $12.5 million acquisition loan for medical office building and surgical center on hospital campus in James City County, Virginia, secured by leasehold mortgage.
• Represented lender on $17.7 million construction loan for medical office building and surgical center on hospital campus in Sterling Heights, Michigan, secured by leasehold mortgage.
• Represented lender on $23 million acquisition of medical office building and surgical center in Van Nuys, California, secured by leasehold mortgage.
• Represented lender on $8.4 million acquisition loan for skilled nursing facility in Marion, Indiana.
• Represented letter of credit issuer on $20 million bond financing for construction of addition to continuing care retirement facility in Columbus, Ohio.
• Represented lender on $5 million construction loan for assisted living/Alzheimer facility in Ingham County, Michigan.
• Represented lender on $10 million construction loan for independent living facility in Kokomo, Indiana.
• Represented lender on $10 million construction loan for independent living facility in Mansfield, Ohio.
• Represented national bank in issuance of reservation of rights and forbearance agreements as to commercial mortgage loans secured by senior healthcare facilities.
• Represented borrower on negotiation of workout of $200 million-plus securitized portfolio loan.
• Represented borrower on friendly foreclosure of $36 million shopping center mortgage.
• Represented lender on $13 million construction loan for medical office facility on hospital campus in Portland, Maine, secured by leasehold mortgage.
• Represented letter of credit issuer/construction lender on financings for low income housing tax credit (LIHTC) properties.
• Conduit loan closings for loan originator and for borrowers.
• Represented agent bank and co-lenders on approximately $500 million in secured and unsecured lines of credit to REITs in the office, multifamily, retail and industrial sectors.
• Issuance of legal opinions for multi-state financings.
• Represented borrowers on release of properties from portfolio sale/leaseback transaction and defeasance of properties from conduit financing.
• Represented global manufacturing company in credit tenant lease of Ohio facility and associated mortgage financing.
• Represented Borrower in a mortgage loan secured by three shopping centers.
• Represented Borrower in a mortgage loan secured by Ohio shopping center.
• Represented national bank in 4th amendment to obligated group healthcare loan facility secured by projects in Florida, Georgia, North Carolina and Tennessee.
• Corporate Facilities, Outsourcing, Development, Acquisitions, Dispositions and Leasing
• Represented financial institution in sourcing of facilities and portfolio facilities management for 400+ properties.
• Represented private college in sourcing of facilities management functions.
• Represented private college in sourcing of food services.
• Represented an acquirer of interests in thousands of oil and gas leases in Ohio related to Marcellus shale exploration and development.
• Represented a retail developer in the evaluation of an oil and gas leasing program, including advice on the negotiation of drilling and non-drilling oil and gas leases, development of a lease template, development of a review template for title and loan documents, REAs and leases and summary memo form, and preparation of review packages for numerous sites.
• Represented a property owner in acquiring oil and gas interests encumbering rural tracts.
• Represented a nonprofit organization in negotiating several oil and gas leases on campgrounds.
• Represented property owners in negotiating oil and gas leases.
• Joint ventures involving 10-plus industrial facilities in five states and Canada, including development of shared services agreements, for chemical company.
• Development of lease tickler system for biotech client with operations in multiple states and countries.
• Representation of a self-administered, NYSE-listed real estate investment trust in the $350 million acquisition of a portfolio of 36 department stores located in CA, NV, AZ and TX, with lease or sublease back to the department store, plus related acquisition and lease back of  additional properties in CA and UT.
• Representation of global real estate advisory firm in a series of multi-family housing investments for joint ventures comprised of institutional investor and developer.
• Represented shopping center developer in $42 million sale of portfolio of seven retail centers in Indiana, Pennsylvania and West Virginia.
• Represented public REIT in $12 million purchase/leaseback of retail department store in California.
• Advice to tenant on competitive requests for proposal on 200,000 sq. ft. office space and 70,000 sq. ft. operations space leases.
• Representing park district in acquisition of 200-plus acres of land for conversion to park purposes, including step transfer through land conservancy and associated easement and license agreements.
• Representation of a Fortune 500 manufacturer in acquisition, development and financing of $56 million global headquarters, including off-balance sheet bond financing.
• Advised sponsor concerning continuing care retirement community facility and consulting contacts.
• Advised retail client on outsourcing contract for development and population of lease database.
• Represented financial institution in outsourcing of facilities and portfolio facilities management for 400+ properties.
• Represented bank in long-term lease of operations center (200,000 SF).
• Represented financial institution in acquisition of data center site.
• Represented financial services company in sale and short-term leaseback of existing headquarters, build-to-suit lease for new 200,000 square foot headquarters and related development incentives.
• Sales and purchases of dark and operating branch banking portfolios on behalf of a national bank, including development of templates for sale and acquisition transactions.
• Development of operations centers, including real estate tax abatement and related development agreement, utility agreements and construction contracts.
• Development of complete set of sales forms to facilitate corporate disposition of excess owned and leased retail banking facilities.
• Sale of downtown corporate headquarters site and leaseback of anchor position in new high-rise development.
• Coordinated simultaneous review and analysis of surveys, title commitment and other due diligence materials for the simultaneous transfer of hundreds of properties in multiple jurisdictions.
• Review, abstracting and organization of real property asset records in multiple states for chemical company.
• Development of lease tickler system for biotech client with operations in multiple states and countries.
• Real estate tax exemption applications for non-profit entities.
• Real estate tax complaints on behalf of owners of commercial property.
• Represented tenant in connection with long-term credit tenant lease, concerning exercise of right to partial termination, substitution of assets and exercise of renewal rights.
• Represented tenant in connection with credit-tenant lease concerning surrender obligations and related matters.
• Represented owners in obtaining real and personal property tax abatement agreements under Community Reinvestment Act and Enterprise Zone Program.
• Served as Ohio counsel to European investor in $3.4 billion acquisition of percentage interest in Marcellus Shale oil and gas lease assets in Ohio.
• Representation of a NYSE-listed REIT in a $300 million acquisition of nine regional mall properties located in five states.
• Represented major financial institution in negotiation of amendment of 25,000 plus square foot downtown office space and sale of adjoining office/building and renewal of a major downtown office lease.
• Represented investor regarding potential joint venture conversion of strip center into life style center.

• "Reduce Mold-Related Risk" · Commercial Investment Real Estate, March/April 2003
• "What Owners Need to Know About Mold Litigation" · HPAC Engineering, September 2002
• "Acquisition, Development, and Construction Loan Commitment Letters" · Construction Renovation Form Book 217, 1991
• "Disposition of Rents and Profits After Mortgage Default" · Ohio Section, 16 Real Property, Probate and Trust Journal 835, 1981; updated 1987 and 1990 for inclusion in Dunaway, The Law of Distressed Real Estate

• Commercial Real Estate Financing (ALI CLE), Chicago, June 14-15, 2012
• And the Workout Dance Continues: Mitigating the Risk of a Springing Guaranty Surprise, U.S. Shopping Center Law Conference, Orlando, FL, October 25, 2012
• Funding Commercial Real Estate in 2012, Urban Land Institute Cleveland District Council, January 30, 2012
• Commercial Real Estate Financing: Strategies for Changing Markets and Uncertain Times, ALI-ABA Conference Center, Philadelphia, April 14-15, 2011
• FASB - Getting Hit from Both Sides: Proposed Accounting Changes Have Big Impact on Landlords and Tenants, Urban Land Institute Cleveland District Council, August 2011
• Negotiating Skills, DDR Women’s Initiative, November 15, 2010
• Financing Commercial Real Estate: Staying Afloat Until the Tide Comes In, Urban Land Institute Cleveland District Council, September 2010
• When a Door Slams Shut, Look for Windows: Finding Money When Capital Is Scarce, International Council of Shopping Centers Ohio, Kentucky, Indiana and Michigan Retail Development & Law Symposium, March 2010
• Solving the Financing Puzzle: How Innovative Companies Are Meeting Capital Needs, Urban Land Institute Cleveland District Council, October 2009
• Syndicated Loans in Default: Special Issues for Borrowers and Lenders, ALI-ABA, June 2009
• Commercial Real Estate Financing: Strategies for Changing Markets and Uncertain Times, ALI-ABA and Hawaii Bar Association, June 2009
• Welcome to the Workout Environment, Urban Land Institute Spring Meeting, Commercial & Retail Development Council Meeting, April 2009
• Navigating the Real Estate Credit Crunch, Thompson Hine LLP Video and Audio Conference, April, 2009
• Got Money? Snapshots of the Credit Crunch, International Council of Shopping Centers Ohio, Kentucky, Indiana and Michigan Retail Development & Law Symposium, February, 2009
• Housing & Economic Recovery Act & Emergency Economic Stabilization Act: For Real Estate Lawyers Who Counsel Lenders, Borrowers & Builders, ALI-ABA, November 2008
• Has the Earth Stopped Shaking: The State of the Commercial Financing Markets Since the Subprime Meltdown, Spring Symposium, ABA Real Property, Trust and Estate Law Section, May 2008
• The Changing World of Debt and Equity: What Every Dirt Lawyer Needs to Know, American College of Real Estate Lawyers (ACREL), April 2008
• There's Money in the Dirt: Tips for Financeable Ground Leases, International Council of Shopping Centers U.S. Law Conference, October, 2006
• Show Me The Money: What Makes a Ground Lease Financeable in Today's Market?, International Council of Shopping Centers U.S. Law Conference, October, 2005
• Would a Rose by Any Other Name Smell So Sweet: Is Your Lease Financeable?, International Council of Shopping Centers Law Conference, October 2004
• Chair, 2004 International Council of Shopping Centers Ohio, Kentucky, Indiana and Michigan Retail Development & Law Symposium, New Retail for a New Millennium: Lifestyle Centers and Other Innovations, April 2004
• Pick Your Poison: Is "Toxic" Mold or a Sick Healthcare Project Distressing Your Loan?, American College of Real Estate Lawyers , October 2003
• Modern Real Estate Transactions, ALI-ABA, 1997, 1998
• Loan Documents in the 90's: Assignments of Rents and Guarantees, American Bar Association Real Property, Probate and Trust Section, 1993
• The Effect of the Americans With Disabilities Act on Leases, Georgetown University, 1993
• Keeping Pace with New Financing Options, ICSC Ohio Law Conference, 1997
• Lending to REITs and Other Institutional Owners of Real Estate, Cleveland, OH, June 6, 2002
• An Overview of Credit Tenant Leases, ICSC Ohio/Kentucky/Indiana Retail Development & Law Symposium, 2002
• The Use of the Ohio Limited Liability Company in Real Estate Transactions, Cleveland Tax Institute, 1994
• Mold Over Bagels: Managing Risks Arising From Toxic Mold in Buildings, Cleveland, OH/Columbus, OH, May 7/July 25, 2002
• Mold: Why All the Fuss Over Fungus, Columbus Bar Association, February 7, 2003
• Avoiding the Ouch!: Peeking Behind the Curtain of Electronic Data, American College of Real Estate Lawyers, March 2003

• Selected for inclusion in The International Who's Who of Real Estate Lawyers 2012 and The International Who's Who of Business Lawyers 2013
• 2012 Athena Award
• Selected for inclusion in Chambers USA: America's Leading Lawyers for Business, Real Estate, Ohio, 2003-2012
• Listed in Legal 500 in Real Estate, 2011
• Selected for inclusion in Super Lawyers including Top 50 Women Ohio Lawyers; Real Estate Lawyers; Top 25 Women Cleveland, Ohio Lawyers by Ohio Super Lawyer magazine, 2005 – 2013
• The Best Lawyers in America, Real Estate Law, 1993-2013
• Named a Commercial Real Estate Woman of Influence 2009 by Real Estate Forum
• YWCA Woman of Professional Excellence Recipient