Acquisition of $160 Million Properties
GableGotwals represented an Oklahoma-based client in the $160 million purchase of producing oil and gas properties and undeveloped leasehold in the Oklahoma and Texas panhandle region.
GableGotwals represented an Oklahoma-based client in the $160 million purchase of producing oil and gas properties and undeveloped leasehold in the Oklahoma and Texas panhandle region.
Represented a real estate developer in connection with the refinancing of an office park complex and buyout of the developer’s partner.
Advised the lender in connection with a $6.4 million loan to a hotel developer for the acquisition and renovation of the Hyatt Place Hotel.
GableGotwals represented the lender in a $31.6 million construction loan to a hotel development group to refurbish the historic St. Anthony Hotel in San Antonio, Texas; the project also involved the use of historic tax credits.
GableGotwals represented the lender in an approximately $12 million construction loan to be used in connection with historic rehabilitation tax credits to renovate and refurbish Tulsa’s Old City Hall for use as a hotel.
GableGotwals represented the lender in a $23.5 million loan transaction that enabled the borrower to renovate the historic Mayo Hotel in downtown Tulsa, Oklahoma. The project also relied substantially on historic rehabilitation tax credits.
GableGotwals secured a unanimous victory from the Oklahoma Supreme Court regarding the necessity of takings under the power of eminent domain. The Firm’s client, a FERC interstate natural gas pipeline, brought a condemnation action to acquire additional easement rights, including access easements over existing roads because the existing agreements between the parties did not provide reliable access to the pipelines and facilities for erosion control and maintenance work. The landowner challenged the necessity of the taking, arguing that the preexisting easements preempted any later exercise of eminent domain and that the taking did not meet the legal standard of necessity for public use. The Oklahoma Supreme Court rejected the landowner’s arguments and ruled in favor of the Firm’s client. In affirming the district court’s ruling, the Oklahoma Supreme Court upheld well settled law that the right of eminent domain cannot be contracted away, meaning that preexisting easements do not prevent later exercise of eminent domain. The Court also reiterated that condemning authorities, such as pipelines, have wide discretion in determining the location and routes of their easements. The Court concluded that the easement rights sought in the condemnation action were necessary for the public use.
Robert J. Getchell has been unanimously appointed to serve on the Oklahoma Abstractors Board. The Boards role is to regulate Oklahoma’s abstract industry.