Represented Stockton University in Various Matters Related to the Sale of the Former Showboat Casino in Atlantic City

Represented Stockton University in various matters related to the sale of the former Showboat Casino in Atlantic City. Advised Stockton on evaluating proposals from potential purchasers, drafted and negotiated the terms of the agreement of sale and related agreements, and handled the final transaction closing. This high-profile, complex transaction included addressing competing covenants regarding the permitted use of the property, resolving tax assessments, implementing a 1031 like-kind exchange as part of the sale, resolving risks associated with the potential purchase and timing of the sale, and addressing matters related to ongoing litigation over the property and the bankruptcy of the former owner.

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