Eric Kordish is the leader of Pedersen & Houpt's Corporate and Business Counseling Practice Group.  He is also a member of the firm's Real Estate Practice Group. He applies his substantial transactional experience to a full spectrum of real estate, finance, general business, and corporate governance matters.

Eric counsels real estate owners, developers, financial institutions, and investors that are involved in complex deals involving the purchase, financing, development, leasing, and disposition of real estate throughout the country.

He represents institutional and non-institutional lenders and borrowers engaged in traditional and creative secured financing transactions, as well as in complex equity and debt financings.

Clients regularly seek Eric's skilled counsel on entity formation and capitalization, as well as for practical help in documenting and administering stock and unit option plans.  Eric's practice additionally focuses on asset and stock purchases, mergers and acquisitions, private equity transactions, and other general business transactions.

Representative Experience

• Represented a $102 million SBA-licensed private equity fund in connection with investments of capital for management buyouts, recapitalizations, strategic acquisitions, industry consolidations, or internal expansions for a diversified portfolio of middle market privately held companies.
• Represented a national value-added sea food processor and distributor in a complex leveraged recapitalization and partial redemption of approximately $30 million of equity through the issuance of new preferred equity and subordinated debt along with a complicated warrant kicker.
• Completed a major transaction and refinancings involving a redevelopment of an 80-year-old downtown Chicago office building in which the lower half of the building was converted to a luxury hotel and the top half was renovated for office use.  The transactions involved numerous aspects, including a joint venture, a vertical subdivision of the property, agreements with the hotel operator, $92 million of new equity, a $218 million first mortgage and $29.5 million of junior mortgages on the hotel portion, a $50 million first mortgage on the office portion, a $35 million mezzanine loan, a façade preservation easement, historic tax credits, a buy-out of a partner, and a complicated recapitalization.
• Advised a real estate developer in structuring a refinancing of a $50 million loan in a tax advantaged manner with respect to cancellation of indebtedness income.
• Represented a partnership in its acquisition, substantial renovation and sale of a 330,000-square-foot office building to a major Chicago-based bank for approximately $30 million, including negotiating and drafting the partnership agreement between the developers and their equity partner.
• Represented a real estate developer of a retail, parking, and condominium unit development in downtown Chicago, advising on disclosure requirements and securing a fully compliant registration of the development with the U.S. Department of Housing and Urban Development (HUD).
• Represented a real estate developer in the $120 million sale of a mixed use retail and parking development complex in downtown Chicago.
• Advised a $180 million equity fund which was converted to an UPREIT and purchased 15 Florida office buildings in connection with its general corporate governance. Represented the fund in the disposition of two buildings, including negotiating documents for the defeasance of a securitized fixed-rate mortgage.
• Performed due diligence, negotiation, and documentation related to the purchase agreement, permit matters, liquor licensing, and hotel franchise licensing for a group of real estate investors in connection with their $30 million acquisition of a hotel business and related real estate in Los Angeles.
• Represented a regional financial institution in connection with its retail facility expansion through multiple acquisitions and ground leases by conducting due diligence; reviewing title and survey; advising on feasibility studies and entitlement contingencies; and reviewing and resolving environmental issues.
• Advised a manufacturer of metal stampings, wire forms, and springs in its seller-financed stock purchase of a complimentary manufacturing business.
• Represented a national designer, producer, and provider of temporary structural environments for corporate, social, cultural and sporting events in a strategic sale of substantially all its assets to a number of regional businesses.
• Prepared and negotiated a restaurant management agreement covering multiple restaurant sites for a group of investors.
• Represented a real estate developer in securing a $178 million construction loan facility for the construction of a proposed mixed use condominium tower, retail space, parking, and garden park development.

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