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About Brock
Brock Bailey, managing partner of Bracewell's Dallas office and a member of the firm's management committee, represents and counsels developers, borrowers, owners and lenders in the acquisition, development, financing and divestiture of large commercial and industrial projects. His experience in the real estate industry includes office, healthcare, hospitality, stadium development, industrial, multifamily, mixed use and retail real estate projects. He counsels clients on all aspects of real estate development, acquisition and construction finance, management, and infrastructure development, as well as construction, leasing, acquisition and disposition matters.
He routinely advises clients on the formation and dissolution of partnerships, joint ventures and corporations, and represents borrowers and lenders in a variety of secured and unsecured credit transactions, including project finance, letters of credit, working capital and restructuring financings.
Experience
Recent Notable Matters
Office
Private equity fund — all aspects of the leveraged acquisition of a luxury hotel in the metro Atlanta suburb of Alpharetta, Georgia, including the negotiation of loan documents, the management agreement and the franchise agreement
Private equity fund — all aspects of the leveraged acquisition of a Class AA 1.3 million square foot mixed use center known as The Crescent in the Uptown District of Dallas, Texas, including the negotiation of all purchase documents, loan documents, and ancillary management documents
Private equity fund — acquisition and financing of a $75 million Class A office tower in Dallas, Texas
Private equity fund — acquisition and financing of a $48 million Class A office tower in Denver, Colorado
Private equity fund — disposition of a 22 property (office and retail) portfolio in Las Vegas, Nevada for a total purchase price of $347.5 million
REIT — disposition of large portfolio (12 office properties/3 million square feet) for a total purchase price of $420 million
Private equity fund — acquisition, finance and joint venture formation in connection with the ground-up development of a $350 million Class AA office tower in the Uptown District of Dallas, Texas
Financial institution — 100,000+ square foot headquarters lease
National retailer — 100,000+ square foot headquarters lease
Lender — $100 million credit facility for energy MLP secured by pipeline and terminal facilities
Private equity fund — acquisition of $35 million office tower in Houston, Texas
Private equity fund — acquisition of $17 million office tower in Irving, Texas
Owner/Developer — site acquisition and development of a new 250,000 square foot Class A office tower in the Preston Center area of Dallas, Texas
Mixed Use
Lincoln Property Company Commercial, Inc. — ground lease, joint venture and development transaction for the construction of a 225,000 square foot office building and 128 residence tower in Preston Center including negotiation of construction financing for project
Hilltop Holdings Inc. — Acquisition of an undivided interest for Hilltop in a six-story, 119,000-square-foot Class A commercial office building on a 1.7-acre tract in University Park, Texas. Hilltop made an approximately $24 million investment in the project, which consists of approximately $5 million for its stake in the building and approximately $19 million for its stake in the land with total building costs expected to be approximately $60 million. Hilltop and PlainsCapital Bank will lease approximately 68,000 square feet of corporate office space and will also open an approximately 4,000-square-foot PlainsCapital Bank branch on the building's first floor. Hilltop will occupy just over half of the building's rentable space and expects to move in during the fourth quarter of 2019.
Borrower — refinancing of a $205 million luxury mixed use (office and retail) project in the Uptown District of Dallas, Texas
Healthcare
New Hope Cultural Education Facilities Finance Corporation — real estate matters in connection with the issuance of four series of taxable and tax-exempt bonds totaling approximately $538 million for Sanctuary LTC Project to finance the acquisition of 26 senior healthcare facilities in Texas and Oklahoma by Sanctuary LTC, LLC. In addition to acquiring the properties, the proceeds of the bonds will fund certain capital expenditures, fund a debt service reserve fund for the senior bonds and pay the costs of issuance.
East Texas Medical Center Healthcare System — sale of substantially all assets to Ardent Health Services, including a network of 9 hospitals, 39 clinics, 2 inpatient facilities, 13 regional rehabilitation facilities, physician clinics, 2 emergency centers, regional home health services covering 41 counties, a comprehensive seven-trauma center care network, and an EMS fleet of more than 45 ambulances and 4 helicopters.
McFarlin Group, LLC — joint venture formation and acquisition of assisted living facilities throughout Texas and Arizona
Methodist Retirement Centers — development of senior living and assisting living facilities in San Antonio, College Station, Fort Worth, League City and Sugarland, Texas
Hospitality
Manchester Texas Financial Group — Representation of the owner/developer of a $390 million convention center hotel in Austin, Texas with respect to financing and construction matters. The property features over 1,000 guest rooms and suites and nearly 140,000 square feet of total meeting space.
City of Irving, Texas — ground lease, financing and development of a convention center headquarters hotel
City of Arlington, Texas — ground lease for new Major League Baseball stadium
Private equity fund — all aspects of the leveraged acquisition of a recently renovated luxury hotel in Annapolis, Maryland; including the negotiation of loan documents, equity documents, management agreement and franchise agreement
Private equity fund — all aspects of the leveraged acquisition of a historic luxury hotel in Denver, Colorado; including the negotiation of loan documents, equity documents, management agreement and franchise agreement