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Energy Infrastructure Real Estate Practice
Today’s real estate industry requires a sophisticated level of understanding to overcome the ever increasing complexity of real estate transactions and the growing number of regulatory requirements. Troutman Sanders’ real estate group offers experience in all aspects of commercial real estate, including acquisition, development, construction, rehabilitation, leasing, financing, land use, zoning, and sale. The firm’s interdisciplinary approach brings together attorneys who specialize in the fields of real estate law, environmental law, zoning and land use, construction law, corporate and partnership law, and tax law to give clients the legal team they need to take their real estate projects from the drawing board to completion.
Below are particular areas in which the real estate practice group has a deep level of experience regarding the real estate challenges specific to the utility industry.
Acquisition and Disposition of Generation Facilities
We routinely advise non-regulated companies in the construction of new generation facilities and the acquisition of existing generation facilities. For new construction, we assist in assembling the necessary acreage, through options, leases or purchases, and in obtaining any required appurtenant easements, such as access, water and gas. We manage title, survey, and zoning issues, and coordinate with local counsel where necessary. We also negotiate construction contracts and assist through-out the permitting and construction phases. When a client acquires an existing facility, we review title and survey; we also review and negotiate the assumption of existing power agreements. Often times, when a seller retains an interest in an existing facility, we negotiate the sharing agreements for the existing facilities, whether by easement, lease, or other device. In addition, we advise clients in the disposition of generation facilities and other related assets. When a client retains an interest in the disposed assets, we assist the client in making sure that the client does not unintentionally dispose of more assets than necessary.
Easements
We negotiate easements among parties in co-ownership arrangements, covering matters such as access, water sharing and utility lines. We negotiate coal conveyor easements and railroad crossing agreements; advise clients with respect to obtaining easements for transmission lines; and frequently assist with condemnation proceedings to obtain land for transmission lines and substations. Although most clients handle their retail easements in-house or in the field, we are often asked to assist when issues arise.
Land Acquisition and Disposition
When utility clients acquire large tracts of land for future development, we assist in all aspects of those acquisitions. We offer expertise in commercial and mixed-use land development to utilities who develop land as commercial developers (not as energy generators), as well as to utilities who acquire incidental parcels. We also assist our clients in the disposition of real assets.
Leasing
All utilities need office and industrial space. We routinely negotiate and prepare leases for utilities, regardless of the type of real estate, including leases as the primary tenant of office buildings to be built, build to suit customer care centers, and local office leases. We also negotiate and prepare leases for utilities as landlords when the need arises, such as leasing tracts of land adjacent to utility-owned man-made lakes, leasing land within easement corridors, and leasing residential and commercial land and improvements held for future development.
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