Aitelli

Peter Aitelli

Partner

Aitelli

Areas of Expertise

Peter Aitelli is a nationally recognized real estate lawyer who represents institutional clients in domestic and international transactions involving all asset classes.

Peter Aitelli represents domestic and foreign clients in a wide range of commercial real estate equity and debt transactions, including acquisitions and sales; financing (including permanent, construction and participating mortgage loans, as well as other forms of “hybrid” debt); and leasing. His work includes structuring and formation of joint ventures and other investment vehicles for the development, ownership and operation of all major property types, including as office buildings, shopping centers, multifamily projects and hotels.

In addition, Peter represents institutional lenders in loan workouts, judicial and nonjudicial foreclosures, receiverships and REO dispositions. His clients include pension funds and their advisors, banks and other financial institutions, private equity firms and other investors in connection with their real estate investments.

Experience

  • Represented a real estate investment trust (REIT) and foreign pension fund in the $800 million acquisition and redevelopment of 1.8-million-square-foot office and multifamily development in the San Francisco Financial District.
  • Represented an investor in recapitalization of joint venture ownership of $1.6 billion multifamily portfolio containing 3,000 apartment units.
  • Represented a pension fund advisor in the acquisition of the controlling interest in a 3.7-million-square-foot portfolio of “lifestyle” shopping centers in the Western United States with a value of $900 million and the $220 million acquisition of the Denver Grand Hyatt and adjacent 39-story Class A office building.
  • Represented a pension fund advisor in the acquisition of a 45-story, 1.2-million-square-foot Class A office building with a value of $420 million.
  • Represented a real estate investment trust (REIT) and pension fund in the $400 million acquisition of a 1.2-million-square-foot office development in the San Francisco Bay Area.
  • Represented an overseas investor in the $1 billion acquisition of a portfolio of 69 apartment properties containing 21,000 residential units in the United States.
  • Represented an international manufacturing company in the acquisition of a 5-million-square-foot real estate portfolio with properties in the United States, Japan, China, Singapore, Thailand and Mexico.
  • Represented a purchaser in the acquisition, joint venture, financing and subsequent sale of 6,700-acre parcel on the Island of Kauai.

  • Represented the lead lender in the $210 million syndicated construction financing of a retail development in Hawaii.
  • Represented the lead lender in the syndicated construction financing of Class A office buildings in San Diego and Sacramento.
  • Represented an institutional lender in the financing of a Class A high-rise office building in the San Francisco Financial District.
  • Represented a lender in the restructuring and foreclosure of a $230 million mortgage loan secured by a Class A office building in San Francisco.
  • Represented a private equity firm in the acquisition and foreclosure of $250,000 mortgage loan secured by a luxury resort in Southern California.
  • Represented CMBS special servicer in the foreclosure of $220 million mortgage loan secured by a hotel and golf course resort in Hawaii.

  • Acted as landlord’s counsel in leasing of a 2-million-square-foot office and R&D portfolio in San Francisco Bay Area.
  • Represented a major international industrial company in the lease of a 3-million-square-foot office, R&D and manufacturing portfolio.
  • Represented a national retailer in a 1.1-million-square-foot lease and development of a warehouse and distribution center.

Activities

  • American College of Real Estate Lawyers (ACREL)
    • Former President
  • California State Bar Real Property Law Section
    • Former Chair,
  • California State Bar
    • Chair, 2011 annual Real Property Law Retreat
  • American Law Institute (ALI-CLE)
    • Real Estate Law Advisory Panel, 2014 – present
  • College Preparatory School, Oakland, California
  • Board of Trustees, 2010-2016
  • Vice Chair of Board and Member of Board Executive Committee, 2013-2016
  • Chair, Governance Committee, 2012-2015
  • Chair, Buildings & Grounds Committee, 2011-2012

Speaking Engagements

Additional Speaking Experience

  • “Modern Real Estate Transactions,” program co-chair, panelist, American Law Institute; ALI-CLE, 2007 – present
  • “Commercial Real Estate Leases: Selected Issues in Drafting and Negotiating in Current Markets,” program co-chair, panelist, American Law Institute; ALI-CLE), 2007 – present
  • “Please Don’t Pick the Cherries: A Study of Real Estate Equity and Debt Portfolio Transactions, American College of Real Estate Lawyers, 2017
  • “Real Estate 101 Series: Commercial Leasing,” California State Bar Real Property Law Section Webinar, 2014
  • “Real Estate Purchase and Sale Agreements: Making the Deal in Today’s Markets,” American Law Institute; ALI-CLE Webinar, 2014
  • “Lessons from the Recession: Real Estate Investments in the 21st Century,” National Association of Real Estate Investment Managers (NAREIM) Legal & Compliance Council Meeting, 2012
  • “Real Estate Joint Ventures and Funds: Current Challenges, Strategies and Opportunities,” Law Seminars International, 2010
  • “The Defaulted Real Estate Project: Enforcement of Commercial Real Estate Loans,” national webcast, American Law Institute; ALI-CLE, 2010
  • “California Anti-Deficiency Legislation: Enforcement of Defaulted Real Estate Loans,” joint presentation of the California State Bar and the San Diego County Bar Association, 2010
  • “Steiner v. Thexton: No More Free Looks in Real Estate Purchase and Sale Agreements,” Alameda County Bar Association Real Property Law Section, 2010
  • “Major Real Property Acquisitions,” California Continuing Education of the Bar (CEB), 1998-2007
  • “Commercial Real Property Acquisitions,” Lorman Education Services, 2008
  • “Current Trends and Opportunities in Timberland Investments,” 4th Timberland Investing World Summit, 2008
  • “Commercial Real Estate Leases,” Law Seminars International, 2007
  • “Understanding the Sophisticated Real Estate Practice,” Practicing Law Institute (PLI), 2001
  • “Negotiating Leases,” CLE International, 2001

Publications

Notable Publications

  • Commercial Real Estate Transactions Handbook, chapter author, Wolters Kluwer Law & Business | Aspen Publishers, 2009-2017
  • “Survey Says! Plotting Your Way Through the New 2016 Minimum Standard Detail Requirements for ALTA Surveys,” author, American College of Real Estate Lawyers, June 2016
  • California Ground Lease Practice, editorial Consultant, California Continuing Education of the Bar (CEB), 2009
  • California Title Insurance Practice, California Continuing Education of the Bar (CEB), 2007