Eric G. Greenfield
Shareholder | Real Estate Division Chair
D 312.873.2932
Government Incentives
Real Estate Equity
Residential and Multi-Family
Resort and Hospitality
Senior Housing and Long Term Care
J.D., magna cum laude, University of Illinois College of Law, 2003, Harno Scholar; CALI Award, Negotiations and Real Estate Transactions
B.S., University of Illinois at Urbana-Champaign, 2000
Bar Jurisdictions
U.S. District Court, Northern District of Illinois
Key Matters
Eric Greenfield is a Shareholder and the Division Chair for the Real Estate Division at Polsinelli. Eric focuses his practice on domestic and cross-border real estate transactions. Consistently selected for inclusion in The Best Lawyers in America® for Real Estate Law since 2009, he has represented a wide range of clients, including, developers, lenders, REITs, real estate funds, private equity firms, pension funds, and other institutional investors. Eric has extensive experience in structuring, negotiating, and documenting all aspects of commercial real estate transactions including acquisitions, dispositions, financings, joint ventures, and development work.
Partnering with investors, lenders, borrowers, fund sponsors, purchasers, sellers, and joint venture partners throughout the United States, Europe and Latin America. A strong focus of Eric's practice revolves around student housing as well as various classes of commercial real estate, including office, industrial & logistics, self-storage, health care, medical office building (MOB), life science, hotel, multi-family, cooperatives, mobile home, senior housing, retail, dark store and mixed-used properties.
Combining his diverse skill set with real-time real estate and private equity intelligence, Eric has successfully closed transactions across 9 countries, and 49 states, the District of Columbia, the Virgin Islands as well as Puerto Rico.
Honored in Connect CRE's 2021 Lawyers in Real Estate Award, Chicago & Midwest
Recognized as Notable Gen X Leader in Accounting, Consulting and Law, Crain's Chicago Business, 2021
Selected for inclusion in The Best Lawyers in America® for Real Estate Law, 2009-2022
Recognized as Real Estate Lawyer of the Year by the Illinois Real Estate Journal, 2021
Ranked in Chambers USA: America's Leading Lawyers for Business, Up and Coming, Real Estate, Illinois (2017)
Ranked in Chambers USA, Real Estate, Illinois (2019-2021)
2010 Chambers and Partners USA Award for Excellence in Real Estate
Selected for inclusion in Illinois Super Lawyers "Rising Stars" for Real Estate, 2009-2018
Recognized as Leading Lawyer by Leading Lawyers Magazine, 2019
Recognized as Notable Gen X Leaders in Law by Crain's Chicago Business, 2019
Illinois Bar Association
Chicago Bar Association
Making Strides Against Breast Cancer Committee
Medical Research Junior Board Foundation
Representation of publicly traded REIT in connection with 23 sale/leaseback transactions in 10 states with aggregate transaction value in excess of $200 million. Our representation in these matters included all aspects of the transaction, including negotiation of the purchase and sale and lease agreements, related due diligence, land use diligence and closing of transaction.
Represented a leading private student housing developer in its sale to a publicly traded student housing focused real estate investment trust of 15 student housing properties with 6,579 beds for a purchase price of $627.0 million, including cash, assumption of debt and OP Units in the REIT.
Represented client on its acquisition of an existing $1+ billion valued office portfolio with properties located in four states by negotiating joint venture agreements with amongst various partner groups, coordinating closing and numerous deliverables amongst lenders and other parties, mezzanine and senior loan documentation, negotiation of property management agreements and other ancillary closing deliverables, assist with licensure and legal compliance issues related to acquiring such properties and managing them on a go forward basis.
Structuring and negotiating a programmatic joint venture on behalf of a prominent student housing developer with a private equity firm which acquired, collectively, over $1 billion of student housing assets throughout the country. We represented the client on all of the acquisition, financing and liquidity transactions for each of the assets acquired through this programmatic joint venture.
Represented developer and operator of high end student housing in connection with a programmatic joint venture with a major life company to finance and operate stabilized student housing projects nationwide; original closings involved approximately $500 million in equity investment. The transaction involved negotiating the joint venture, recapitalizing each asset and significant tax planning to optimize tax treatment for investors remaining in the transaction. Additionally, the transaction required the negotiation of the redemption of existing capital investors.
Represented a large privately held student housing developer and manager in the formation of a $600 million platform joint venture with a Canadian pension group and an asset management group to develop, acquire, own and operate student housing projects at tier one universities in the United States. We served as counsel to the joint venture in its acquisition, joint venture and financing activities.
Represented developer and operator of high end student housing in connection with a programmatic joint venture with a major life company to finance the development and construction of new student housing projects nationwide; the first closing involved approximately $50 million in equity investment. The transaction involved negotiating the joint venture, negotiating construction financing, obtaining zoning and other entitlements, and significant tax planning. Additionally, the transaction required the negotiation of the redemption of existing capital investors.
Negotiated an up to $150 million private equity capital infusion by a NY based investment fund into an existing development company to provide capital for expansion and growth. The investment was structured as debt to maximize available deductions and minimize net cost to the company. The investment included a parallel structure to accommodate projects with historic tax credits. The transaction involved due diligence on approximately 40 projects, all organizational matters, contribution agreements for each project, debt review and analysis, significant consent requirements from both existing equity investors and debt holders.
Representation of publicly traded REIT in connection with the $51MM sale/leaseback of an approximate 250,000 sq. ft. office complex in McLean, Virginia. Our representation included all aspects of the transaction, including negotiation of the Purchase and Sale and Lease Agreements, related due diligence, land use diligence and closing of transaction.
Representation of publicly traded REIT in connection with the $10MM portfolio sale/leaseback of six early childhood education facilities in the Denver metropolitan area. Our representation included all aspects of the portfolio transaction, including negotiation of the Purchase and Sale and Lease Agreements, related due diligence, land use diligence and closing of transaction.
Representation of a campus housing developer in purchase of a note.
Retail Site Redevelopment - Redevelopment of an 88-acre retail site including the structuring of economic development incentives, including both Tax Increment Financing and a Community Improvement District; the issuance of municipal bonds to fund the project; the development and analysis of redevelopment pro formas; land assemblage including dozens of property owners; condemnation proceedings; blight and environmental remediation; litigation; and serving as lead negotiators and chairs of numerous meetings before the City Council, TIF Commission and numerous taxing jurisdictions.
Mall Redevelopment - Redevelopment of existing mall site. The total project cost was $250 million. Polsinelli obtained all entitlements for new mixed-use improvements and securing incentive packages from state and local governments totaling $55 million.
Acquisition, development, construction, equity raise, loan and related corporate matters with respect to domestic and international student housing projects, senior lifestyle centers, residential and retail buildings and commercial office ventures located throughout the United States, United Kingdom and Latin America.
Represented developer in the acquisition, development, construction, funding, financing and related corporate matters with respect to a student housing portfolio valued in excess of $407 million. Individual projects located across the nation, including properties in South Carolina, Tennessee, Utah, Oregon and Texas.
Assisted client with the roll-up of approximately 30 student housing developments valued at almost $1 billion into a holding company concurrently with the admission of a new private equity investor funding approximately $125 million for future growth.
Representation of a campus housing developer in connection with multiple refinancings of various properties.
Representation of a lender in a several hundred-million-dollar refinancing of a portfolio of resort hotels in Mexico.
Representation of Prudential Mortgage Capital Company's Mexican lending subsidiary, Prudential Asset Holdings - Mexico, in connection with industrial property financing involving subsidiaries of AMB-SGP Mexico, LLC, and G. Acción S.A. de C.V.
Representation of Prudential Real Estate Investors in connection with a $400 million real estate fund targeting retail investments in Mexico.
Acquisition of over 60 commercial properties throughout the Chicagoland area.
Acquisition of Armani building in Los Angeles, California.
Assist United Kingdom based firm in placing debt and equity in United States on multiple transactions.
Assist United Kingdom based insurance company in multiple office leases and transactions.
Represented real estate fund in acquisition of numerous supermarket anchored strip centers.
Represented hospital in sale of multiple nursing home properties.
Represented publicly-traded company in workouts with existing tenants on properties throughout the country.
Represented company in an over $2 billion joint venture for office product located across the company.
Florida Real Estate Roundup: Forté, Milan, UM Recital Hall
Mentioned, Law360
The Life Science Industry's Transformation
Featured, Commercial Property Executive
Ep 7: Partners' Perspectives — A Guiding Voice through Unprecedented Times
Interviewed, CA Ventures' Vertical Insights Podcast
3 Ways COVID-19 Is Shaping The Student Housing Sector
Quoted, Law360
Polsinelli Attorneys to Speak on Real Estate Opportunity & Private Fund Investing
Connect CRE Honors Polsinelli Real Estate Leaders Eric G. Greenfield and Amy Kiefer Hansen
Polsinelli Team Helps Tricera Capital Close Boca Raton Real Estate Deal
Florida Real Estate Roundup: Ashworth Park, Via Mizner, Onda
Polsinelli Team Helps Tricera Capital Close Pair of Real Estate Deals in Tampa Bay/St. Petersburg
Bradley E. Wright Joins Thriving Real Estate Practice in Polsinelli's Phoenix Office
{{html Location}}
real people.
real perspective.SM