Obermayer Tax Team Structures $75 MM Acquisition of Miracle Mile Shopping Center

Obermayer’s Tax Group, led by Chair Jared Slipman, along with Alexander Dungan, and members of Obermayer’s Business and Finance team, including Edward Sarin, and Hara Caplan, advised Frontier Realty Group and certain of its partners in the approximately $75 MM acquisition of Miracle Mile Shopping Center in Monroeville, Pennsylvania, spanning over 27.5 acres. Obermayer’s team led the tax and corporate structuring to facilitate the acquisition, including structuring deal arrangements amongst investing entities and the drafting and negotiation of investor agreements and various other corporate documentation. A significant component of the overall transaction involved structuring a series of separate Section 1031 like-kind exchanges. Miracle Mile is ranked in the top 5% of shopping centers nationally.

Obermayer’s Tax Group provides comprehensive tax planning and structuring services at the federal and state levels, extending beyond large-scale real estate acquisitions to include complex transactional M&A tax matters, tax-exempt financing services, as well as tax advice to small and mid-sized businesses aimed at helping businesses navigate commercial opportunities and challenges while achieving their business, investment, and development objectives.