Wayne F. Osoba

Partner

Overview

Wayne Osoba is a partner and real estate business lawyer with Foley & Lardner LLP, and is the Chicago office chair of Foley’s Business Law Department. A member of the firm’s Real Estate Practice, he focuses his practice on commercial real estate and secured lending. Wayne represents clients in a wide variety of real estate transactions, including venture formation, multistate acquisitions and dispositions, development, management and leasing (landlord and tenant) involving office, retail, multi-family, industrial, warehouse, hotel, and airport real estate.

Wayne represents both lenders and borrowers in secured loan transactions, including construction, interim, and permanent and mezzanine financing; and has considerable experience negotiating and documenting real estate workouts and restructurings.

Wayne has represented major domestic and foreign banking institutions, real estate opportunity funds, insurance companies, international open and closed end real estate fund sponsors, hospitals and healthcare providers, renewable energy developers, CMBS servicers, public utilities, and governmental agencies.

Recognition

In 2007 - 2011, the Legal 500 recognized Wayne as one of the leading lawyers in the U.S. for real estate and he was recommended again for his real estate work in 2012. He has also been selected for inclusion in the Illinois Super Lawyers® list* in 2012, 2018, and 2019.

In 2017, Wayne was a recipient of Foley’s Carl Hitchner Mentor of the Year Award. Since 2010, Wayne has served as a guest lecturer for the real estate development class at the University of Illinois Gies College of Business.

Education

A summa cum laude (J.D., 1985) graduate of the University of Illinois Law School, Wayne served on its Law Review and was elected to the Order of the Coif. He received his undergraduate degree from the University of Illinois (B.S., highest honors and Phi Beta Kappa, 1982).

Admissions and Professional Memberships

A native of Chicago, Wayne is admitted to the bar in Illinois and the trial bar for the U.S. District Court for the Northern District of Illinois. He is a member of the Chicago Bar Association and the American Bar Association.

*The Illinois Supreme Court does not recognize certifications of specialties in the practice of law and no award or recognition is a requirement to practice law in Illinois.

Representative Experience

  • Representation of an insurance company in connection with a $68 million mortgage loan to refinance a luxury high rise apartment building located in Chicago’s Gold Coast neighborhood
  • Representation of Hecate Energy in its multi-state acquisition of site and development rights for renewable energy projects
  • Representation of an institutional lender in various mortgage loan bridge financings for the acquisition of skilled nursing facilities and senior living facilities
  • Representation of a financial institution in connection with a $1 billion credit facility to a real estate fund owned by a state teachers’ retirement system
  • Representation of a global packaging company in sales of warehouse facilities in Batavia, Illinois, Vandalia, Ohio, and Dayton, Ohio.
  • Representation of a major health system in the negotiation and closing of a tax increment financing project involving the relocation of its headquarters and the development of neighborhood healthcare facilities in under-served areas
  • Serving as lead real estate counsel in connection with fourteen private placement bond financings for Illinois public utilities providing aggregate bond sale proceeds in excess of $1.29 billion
  • Representation of a healthcare client in the $60 million sale/leaseback of a surgical center in Lubbock, Texas
  • Representation of the purchaser in the $62 million acquisition of a facility located in Decatur, Georgia and leased to the Veteran’s Administration for the operation of a VA Clinic
  • Representation of a life insurance company in a $172.5 million construction loan for a residential development in Chicago, Illinois containing 828 units within two towers consisting of 37 stories and 41 stories
  • Representation of a healthcare client in the $56.6 million sale of a surgical hospital in North Little Rock, Arkansas pursuant to a contribution structure with an UPREIT
  • Representation of a Canadian plastics company in the $14.9 million acquisition of an industrial park under development in Sterling Heights, Michigan for the construction of a new automotive parts manufacturing facility
  • Representation of a plastics manufacturing company in the $17.35 million acquisition of three industrial buildings in Shelby Township, Michigan
  • Representation of a German open end real estate fund and a German closed end fund in the formation of a joint venture and $123 million acquisition of a premier office building located in Chicago, Illinois, financed with a $78 million acquisition loan from a life insurance company
  • Representation of an insurance company in connection with a $95 million construction loan for a 47-story luxury apartment tower in Chicago’s River East area, containing 549 apartment units
  • Representation of a life insurance company in a $120 million loan for the construction of a 52-story luxury apartment building containing 607 units in Chicago, Illinois
  • Representation of a financial institution, as administrative agent and lender, in connection with a $30 million revolving credit facility secured by investor capital commitments in a fund making investments in alternative energy
  • Representation of a German real estate investment fund as owner of the JW Marriott Chicago in connection with its $270 million first mortgage and mezzanine financing from French bank Natixis
  • Representation of a financial institution in the deed in lieu of foreclosure settlement negotiation involving loans in an aggregate amount in excess of $43 million, secured by 12 nursing facilities located in Illinois and Missouri
  • Serving as lead real estate counsel to Louisiana Children’s Medical Center, a Louisiana-based not-for-profit healthcare system, in its acquisition of West Jefferson Medical Center, a public hospital in Marrero, Louisiana, which involved a 45-year lease agreement and an investment commitment of $340 million in capital improvements
  • Serving as lead real estate counsel to a Canadian dairy cooperative in its $1 billion acquisition of the assets of a company involved in the production and sale of dairy products, with real estate production facilities located in Minnesota and North Dakota
  • Serving as lead real estate counsel in connection with the acquisition by Trinity Health of Loyola Medical Center and the restructuring of various real estate assets between Loyola University and Loyola Medical Center
  • Representation of a major hospital system in the negotiation and closing of tax increment financing from the City of Chicago in connection with the relocation of a private university to the City of Chicago
  • Representation of a financial institution in its $233 million syndicated construction loan facility for the development of a luxury condominium development in Chicago’s Lincoln Park neighborhood
  • Representation of a financial institution in the refinancing of a $200 million syndicated credit facility to borrowers engaged in the acquisition and development of residential properties throughout the United States
  • Representation of the lender in its $800 million and $850 million revolving credit facilities to real estate funds, backed by a guaranty from the borrowers’ owner, a state teachers’ retirement system
  • Representation of the developer in its $32.35 million construction loan for the development of a new Hyatt Hotel in downtown Chicago

Capabilities