As a member of Pedersen & Houpt's Real Estate Practice Group, David Seritella represents real estate owners, developers, lenders, investors, tenants, operators and other users of commercial real estate in, among other things, the sale, acquisition, leasing, subdivision, financing and development of commercial properties, often devising and employing creative solutions to the unique problems encountered in real estate transactions to obtain the best results for our clients.

David's work in Pedersen & Houpt's Banking and Finance practice area focuses on representing lenders, borrowers, and other loan parties in structuring, negotiating, and documenting a broad range of secured and unsecured commercial financing transactions.

David is also a member of Pedersen & Houpt's Corporate and Business Counseling Practice Group, providing counsel on a range of commercial transactions and matters.

Working with the firm's Creditors' Rights, Restructuring and Bankruptcy Practice Group, David represents financially troubled entities, secured lenders, trustees, receivers, unsecured creditors and other parties in out-of-court workout, restructuring, forbearance, and reorganization matters.

David's practice benefits from his previous experiences, which include serving as an Adjunct Instructor at the University of Illinois College of Law (teaching Legal Writing and Introduction to U.S. Law), managing a financial services company and serving as a principal in two entrepreneurial ventures. While in law school, David was a Teaching Assistant for two courses: Secured Transactions and Introduction to Advocacy. He also received a pro bono notation for assisting a New Orleans, LA legal aid office with housing cases and mediating cases referred by the Champaign County Court. In addition, David was the Administrative Editor of the University of Illinois Journal of Law, Technology & Policy.

Representative Transactions

• Represented a national bank in its acquisition loans to the buyer of two manufacturing companies and related assets.
• Represented a community bank in its theatre construction loan to an established non-profit professional theatre company based in the Chicago, IL metropolitan area.
• Represented a Chicago, IL-based national bank in its debt restructuring loan to a minor league baseball team, secured by the assets and ownership of the team.
• Represented a national bank in its secured acquisition loan to the buyer of aircraft and aircraft engines.
• Negotiated leases and handled related matters for several national and regional restaurants and other retail concepts.
• Represented various restaurants and other retail franchisees in their leasing, financing, and development of commercial properties.
• Represented a Chicago, IL-based real estate development company in, among other things, the following transactions:
  • Obtaining a $49,000,000 construction loan to finance the redevelopment of two vacant Chicago, IL buildings into multi-unit residential properties.
  • Acquisition of Minneapolis, MN buildings, and the leasing of a portion of one of the buildings to an international entertainment company.
  • Acquisition of historic bank property in Chicago, IL and obtaining a $35,000,000 construction loan to finance its redevelopment into a mixed-use, multi-unit property.
  • Various loans (including a traditional construction loan, mezzanine financing, and a Fannie Mae loan) to finance the redevelopment of a vacant Chicago, IL building into a multi-use, multi-unit property.
  • Sales and acquisitions of commercial properties in several states.
• Represented a Dallas, TX-based real estate developer in its redevelopment of a multi-block downtown Dallas, TX area under a master plan providing for a farmers' market, restaurants, athletic fields and mixed-use buildings, each comprised of a public parking garage, retail space and residential apartments, which redevelopment is financed by a HUD construction loan, an EB-5 loan, a bank construction loan and TIF financing.
• Represented a real estate developer in the creation and the financing of vertical subdivisions of real property in Dallas, TX and selling an air rights parcel within one such subdivision to the City of Dallas.
• Assisted with the financing and subsequent $125,000,000 sale of a portfolio of multi-unit senior -housing properties located in the Dallas, TX metropolitan area.
• Represented a real estate developer in the following transactions:
  • Acquisition and financing of a shopping center and ground lease in Bellaire, TX.
  • Acquisition and financing of a commercial property and credit-tenant ground lease in Teterboro, NJ, subject to a PILOT program.
  • Acquisition and financing of a 40,000 square foot office building in Tustin, CA.
  • Acquisition and financing of a 61,000 square foot office building in Lone Tree, CO.
  • Acquisition and financing of a commercial property and credit-tenant ground lease in Upper St. Clair, PA.
  • Sale of two medical office buildings in Bedford, TX.
  • $42,000,000 sale of a portfolio of multi-unit residential properties in Dallas, TX.
  • Acquisition and financing of thirty acres of property, consisting of commercial buildings and surface parking lots near Love Field in Dallas, TX.
• Represented a Chicago, IL-based private equity firm in the following transactions:
  • Acquisition and financing of a 66,000 square foot manufacturing facility and 10,000 square foot office building, subject to a PILOT program, in Falconer, NY.
  • Acquisition and financing of a portfolio of manufacturing facilities in South Windsor, CT; Kansas City, MO; and El Dorado, CA.
  • Acquisition and financing of a 72,000 square foot office building in St. Cloud, MN.
  • Acquisition and financing of a manufacturing facility in St. Albans, VT.
• Represented Chicago, IL-based REIT companies in several purchase-leaseback portfolio transactions with credit tenants throughout the U.S.
• Represented a Chicago, IL-based private equity fund in its $55,000,000 sale of a warehouse and shipping facility in Columbus, Ohio leased by a publicly traded retailer.
• Represented the owner of a 1,000,000 square foot downtown Chicago office building in its $100,000,000 sale.
• Represented the owner of a Class A Naperville, IL shopping center in its sale to a publicly traded REIT.
• Represented a NYSE-traded auto industry company in its acquisition, leasing and development of large-scale storage and processing facilities across the U.S.
• Represented a private equity fund in the negotiation of a California lumber distribution facility lease.
• Represented a Chicago, IL-based owner and operator in its portfolio sale of 31 mobile phone retail stores in Chicago, IL and New York City, NY.
• Represented a Canadian buyer in its acquisition and financing of an Illinois hotel.
• Represented a publicly traded bank in its municipal ordinance violation matters before the City of Chicago.

Honors & Recognitions

CALI Excellence for the Future Award for a course "Perspectives on Bankruptcy and Commercial Law"

American Bankruptcy Institute, Medal of Excellence

Pro Bono Notation

News

Alerts

Publications

Professional Affiliations

American Bar Association

Turnaround Management Association