CGS3http://cgs3.com Welcome to CGS3 - Your Legal Partners In Building InnovationSun, 13 Jan 2019 03:21:34 +0000en-UShourly1https://wordpress.org/?v=5.0.3Becoming a Successful Qualified Opportunity Zone Fund Sponsorhttp://cgs3.com/becoming-a-successful-qualified-opportunity-zone-fund-sponsor/ Wed, 05 Dec 2018 01:40:46 +0000http://cgs3.com/?p=3733The emergence of the Opportunity Zone legislation earlier this year has sparked a mounting interest in the designated areas, which are designed to rejuvenate investment in economically distressed areas while providing significant tax incentives. Many real estate developers are weighing the benefits of becoming a Qualified Opportunity Zone Fund (QOF) Sponsor, establishing a partnership, limited liability company or corporation to invest in Opportunity Zone property.  The steps to organizing such a fund appear simple, but upon closer examination are quite complex and depend upon the structure.

In a recent two-part series for The Daily Transcript, CGS3 partner Phil Jelsma examines the steps necessary to become a QOF sponsor and key considerations for real estate owners and investors looking to take advantage of this new economic tool.

Read Part 1 from The Daily Transcript here, and read Part 2 from The Daily Transcript here.

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New IRS Audit Rules Come to California Partnershipshttp://cgs3.com/new-irs-audit-rules-come-to-california-partnerships/ Wed, 03 Oct 2018 20:15:11 +0000http://cgs3.com/?p=3715Earlier this summer, the IRS finalized its rules on partnership audits (which became effective January 1, 2018), and on September 23rd, Governor Brown signed SB 274 conforming California state law with the federal rules. As a consequence, many existing partnerships and limited liability companies (LLCs) are bracing themselves for what may be major changes.

In his latest article in a series on the sweeping tax changes of 2018, CGS3 partner Phil Jelsma offers a look into the implications of the rules for both partnerships and LLCs – as well as key concerns that entities need to carefully consider when revising their operating or LLC agreements.

Read the full article from the Los Angeles Daily Journal here or from the San Diego Daily Transcript here.

 

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CGS3 Represents RAF Pacifica Group in $170 Million Sale of 12-Property Industrial Portfoliohttp://cgs3.com/cgs3-represents-raf-pacifica-group-in-170-million-sale-of-12-property-industrial-portfolio/ Tue, 02 Oct 2018 22:07:04 +0000http://cgs3.com/?p=3711SAN DIEGO (October 2, 2018) – Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) – representing RAF Pacifica Group, a San Diego-based owner, operator and developer of high-quality commercial real estate – helped close the $170-million portfolio sale of 12 Class A industrial assets located throughout San Diego and Riverside Counties. The buyer, a private investment company, was undisclosed.

CGS3, Southern California-based a premier commercial real estate law firm handled all stages of the transaction, including the negotiation of the purchase and closing.

According to David Alvarado and Dana Schiffman, the CGS3 partners who handled the deal, RAF Pacifica had strategically upgraded and improved each of the properties involved into Class A industrial facilities – thereby meeting a growing demand in the region for institutional-quality core industrial assets. “We are thrilled to work on behalf of RAF Pacifica – which has extensive expertise in strategic acquisitions, ground-up developments, and re-positioning – and to have played a critical role in this important transaction. We believe this deal will forever change the face of San Diego’s evolving industrial market,” Alvarado said.

The properties in the portfolio, which totals over one million square feet, include:

dis·trib·ute—3261 & 3266 Lionshead Ave. in Carlsbad
gen·er·ate—1125 Joshua Way in Vista
pro·duc·tion—195 Bosstick Blvd. in San Marcos
3193 Lionshead Ave. in Carlsbad
2281 Las Palmas Dr. in Carlsbad
1385 Park Center Dr. in Vista
2641 and 2651 La Mirada Dr. in Vista
120 Mata Way in San Marcos
2946, 2950 & 2954 Norman Strasse Rd. in San Marcos
1880 Diamond St. in San Marcos
26201 Ynez Rd. in Temecula
42259 Rio Nedo Rd. in Temecula

Cushman & Wakefield represented RAF Pacifica Group as the seller in the transaction. The buyer was self-represented.

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

Since its inception in 2013, CGS3 has become an elite powerhouse law firm exclusively serving the commercial real estate industry. CGS3 pairs high-caliber lawyering with a flexible and forward-thinking business model, meeting and exceeding client expectations for quickly responding to deals of all sizes, scopes, and complexities and across all asset classes.

With practice areas including land use, finance, acquisition/disposition, entity formation, tax, development, land use, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024. For more information, visit http://www.cgs3.com.

About RAF Pacifica Group

RAF Pacifica Group is a privately held, full-service commercial real estate investment firm that acquires, owns, and develops industrial, office, and mixed-use properties throughout San Diego County. The firm is spearheaded by Adam Robinson, who was previously a principal of SR Commercial where he directed the firm’s acquisition of 68 properties totaling approximately two million square feet and more than $250 million in commercial properties.

Media Contact:  Sydnie Moore: (619) 823-8448 / moore2com@gmail.com

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Respected Real Estate Attorney Robert J. Bell Joins CGS3 as Partnerhttp://cgs3.com/robert-j-bell-joins-cgs3-as-partner/ Thu, 13 Sep 2018 21:23:54 +0000http://cgs3.com/?p=3703SAN DIEGO (September 12, 2018) – Adding one of the region’s top real estate lawyers to its ranks, Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) has named long-time San Diego attorney Robert “Bob” J. Bell as its newest partner. With more than 40 years of industry experience, Bell focuses his practice on real estate development/construction, investment and brokerage matters and will work from CGS3’s headquarters in San Diego.
Robert Bell

Robert “Bob” Bell

Bell’s career spans the spectrum of real estate development, investment, construction and brokerage matters including multi-family, urban infill, mixed-use, hospitality, industrial, retail, office and land transactions. He has represented some of the nation’s most successful homebuilders and commercial developers.

In addition, Bell is a licensed California real estate broker and served as outside general counsel for the San Diego Association of Realtors for over 25 years.  He is also a founding member of the California Association of Realtors’ Legal Affairs Committee.

“We are excited and humbled to have Bob join our team of best-in-class attorneys,” said Sean Southard, a founding partner at CGS3. “He is a master legal craftsman and industry icon with years of law firm management experience. Like all of our lateral partners, Bob is convinced that to effectively respond to the demands of a new generation of sophisticated commercial real estate clients, lawyers need to deliver legal services differently and more efficiently. We couldn’t be more pleased to have his insights and leadership as CGS3 continues to evolve and refine its brand of excellence in adding real and immediate value to our clients.”

Bell began his legal career in 1976 with San Diego’s then-largest law firm, Luce Forward Hamilton & Scripps, serving as its managing partner from 2004 to 2009. He continued with Luce Forward through a merger with Mckenna Long & Aldridge, a national firm and then Denton’s, one of the largest international law firms.

Active in both professional and community organizations, he is a member of the San Diego County Bar Association, the Lambda Alpha International Honorary Society for the Advancement of Land Economics, and the San Diego chapter of NAIOP.  Bell also serves on the Policy Advisory Board for Commercial Real Estate of the Burnham-Moores Center for Real Estate, University of San Diego. Additionally, he is past president of the San Diego County Apartment Association and the San Diego Fair Housing Council and served on the board of directors of the San Diego County Regional Economic Development Corporation. The recipient of numerous industry accolades, he was most recently named the Best Lawyers 2018 Construction Law “Lawyer of the Year” in San Diego.

He holds a B.A. in psychology from the University of California, Santa Cruz and earned his J.D., summa cum laude, from Loyola Law School, Los Angeles.

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

Since its inception in 2013, CGS3 has quickly established a reputation as one of the leading real estate law firms in California, attracting some of the state’s finest real estate attorneys from both large corporate firms and senior in-house positions.

With practice areas including land use, finance, acquisition/disposition, entity formation, tax, development, land use, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024.

For more information, visit http://www.cgs3.com.

Media Contact: Sydnie Moore: (619) 823-8448 / moore2com@gmail.com

 

 

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CGS3 Partner Named to Daily Transcript’s “50 Influential Leaders” Listhttp://cgs3.com/cgs3-partner-named-to-daily-transcripts-50-influential-leaders-list/ Mon, 10 Sep 2018 19:23:48 +0000http://cgs3.com/?p=3698SAN DIEGO (September 7, 2018) – Phillip Jelsma, a partner with Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3), is featured in The Daily Transcript’s “50 Influential Leaders” for 2018, a special supplement which highlights San Diego County’s most influential business leaders in industries ranging from real estate to the public sector.

With decades of experience in structuring sophisticated real estate and business transactions, Jelsma is chair of CGS3’s tax practice team.

Widely recognized as one of the state’s leading joint venture and tax attorneys, his practice focuses on tax planning and limited liability company (LLC) and partnership business with an emphasis on commercial real estate and nonprofit corporations. He is skilled in all facets of tax law and commercial real estate – including real estate exchanges, syndications, nonprofit corporations and international tax planning.  He also has extensive experience supporting corporate mergers and acquisitions, including representing buyers and sellers in consolidations, stock and asset purchases, management buyouts, and related transactions.

As part of his legal practice, Jelsma serves as an expert witness in partnership and LLC disputes, particularly fiduciary duty and allocation issues, and attorney standards of care. Since 1989, he has been an adjunct professor at the University of San Diego School of Law where he specializes in tax law.

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

Since its inception in 2013, CGS3 has quickly established a reputation as one of the leading real estate law firms in Southern California, attracting some of the state’s finest real estate attorneys from both large corporate firms and senior in-house positions. With practice areas including land use, finance, acquisition/disposition, hospitality, entity formation, tax, development, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, and 10940 Wilshire Blvd., Suite 2200, Los Angeles.

For more information, visit http://www.cgs3.com.

Media Contact:  Sydnie Moore: (619) 823-8448 / moore2com@gmail.com

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CGS3 Partners Recognized in Legal System’s Preeminent Guidehttp://cgs3.com/cgs3-partners-recognized-in-legal-systems-preeminent-guide-phil-jelsma-named-lawyer-of-the-year/ Wed, 22 Aug 2018 23:02:03 +0000http://cgs3.com/?p=3647FOR IMMEDIATE RELEASE

CONTACT:
Sydnie Moore  (619) 823-8448  Moore2com@gmail.com

CGS3 Partners Recognized in Legal System’s Preeminent Guide

Phil Jelsma Named “Lawyer of the Year”

 

SAN DIEGO (August 20, 2018) – Crosbie Gliner Schiffman Southard & Swanson, LLP (CGS3) has announced that partner Phillip Jelsma has been selected by his peers as a San Diego “Lawyer of the Year” for Tax Law in the 2019 edition of The Best Lawyers in America, a prestigious national ranking of attorneys selected through an exhaustive annual peer-review process.  Four additional partners – Thomas Crosbie, Ray Gliner, Dana Schiffman and Craig Swanson – are featured in the 2019 edition in the Real Estate Law section.

This is the ninth year of recognition for both Jelsma and Schiffman, the second year for Crosbie and Gliner, and the first year Swanson has been recognized. Jelsma was also named “Lawyer of the Year” for Tax Law in San Diego in the 2011, 2016 and 2017 editions.

According to Best Lawyers, the oldest and most respected peer-reviewed publication in the legal profession, only a single lawyer in each practice area and designated metropolitan area is honored as a “Lawyer of the Year” – each is selected based on particularly impressive voting averages received during peer-review assessments conducted with thousands of leading lawyers each year. The honor reflects the highest level of respect a lawyer has earned among other attorneys based on his or her abilities, professionalism and integrity.

Because of the exacting methodology involved, the annual ranking is regarded as the industry’s definitive guide to legal excellence. For three decades, Best Lawyers has become a resource for both lawyers and clients looking for top legal talent.

CGS3 provides services throughout the entire commercial real estate life cycle and Schiffman, Jelsma, Crosbie, Gliner and Swanson all have considerable experience in all aspects of commercial real estate and tax law:

  • Schiffman is well-versed in a wide range of acquisition, development, leasing and financing matters for a variety of commercial real estate projects. His experience includes large portfolio sales, development agreements, CC&Rs, complex ground leases, build-to-suit leases and anchor retail leases.
  • Jelsma is chair of the tax practice team at He is widely recognized as one of the state’s leading joint venture and tax attorneys, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
  • Crosbie has extensive experience in a broad variety of commercial real estate areas, including acquisitions and dispositions, financing, leasing and construction in connection with commercial, residential, industrial, retail and mixed-use projects for local, regional and national real estate developers and investors.
  • Gliner has represented landlords in various complex lease provisions, including lease takeover provisions, extensive overlapping expansion and contraction rights, and build-to-suit work letter/construction and related commencement date issues.
  • Swanson specializes in the acquisition, disposition, development, leasing and financing of commercial, retail and mixed-use projects, with clients including some of the nation’s leading real estate companies.

About Best Lawyers

Since 1983, Best Lawyers has compiled lists of outstanding attorneys by conducting extensive peer-review surveys in which thousands of top lawyers confidentially evaluate their professional peers. Because attorneys do not pay a fee for the listing, Best Lawyers has gained respect as the country’s most reliable, unbiased source of legal referrals. In addition to the print version, Best Lawyers in America is posted online at www.BestLawyers.com.

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

Since its inception in 2013, CGS3 has quickly established a reputation as one of the leading real estate law firms in Southern California, attracting some of the state’s finest real estate attorneys from both large corporate firms and senior in-house positions. With practice areas including land use, finance, acquisition/disposition, hospitality, entity formation, tax, development, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, and 10940 Wilshire Blvd., Suite 2200, Los Angeles. For more information, visit http://www.cgs3.com.

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Bonus Depreciation and the New Section 1031http://cgs3.com/bonus-depreciation-and-the-new-section-1031/ Thu, 19 Jul 2018 20:55:45 +0000http://cgs3.com/?p=3636
It is no secret that the “Tax Cuts and Jobs Act,” which went into effect January 1st of this year, is the largest tax reform bill in decades. Among the Act’s extensive changes are new rules under Code Section 1031: personal property assets may no longer be exchanged tax-free under Section 1031, and intangibles – patents, FCC licenses, broadband spectrum, and the like – are also fully taxable.
In an article for the newly minted SoCal Real Estate, CGS3 partner and tax chair Phil Jelsma discusss some of the consequences of the new Section 1031 rules – and how bonus depreciation is playing key role in reducing the impact of the new rules within the real estate industry.
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CGS3 Celebrates Five-Year Anniversaryhttp://cgs3.com/cgs3-celebrates-five-year-anniversary/ Wed, 11 Jul 2018 21:00:02 +0000http://cgs3.com/?p=3621Southern California-Based Firm Leading the New Generation of Law

SAN DIEGO – Continuing to affirm its status as one of California’s premier commercial real estate law firms, Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) marks five years in business this month.

Since opening its doors in July 2013, CGS3 has emerged as a powerhouse law firm exclusively serving the commercial real estate industry, with recent milestones and accolades including:

Since its inception, CGS3 has grown from seven attorneys and one paralegal to 22 attorneys and six paralegals – and has played a key role in some of the state’s most significant projects and deals, including the development of the Pendry Hotel in downtown San Diego, Doheny Eye Institute’s $50 million Pasadena acquisition, and the Port of San Diego’s development and ground lease of the former Lane Field. CGS3 represents a who’s who list of California-based and national public and private developers, pension funds, homebuilders, asset managers, institutional investors and end users.

The firm – launched by a group of highly respected and seasoned attorneys – continues building on its forward-thinking business model aimed at deftly handling commercial real estate transactions of all sizes, scopes and complexities across all assets classes.

With an innovative platform and a carefully orchestrated growth strategy, CGS3 has become one of California’s leading commercial real estate law firms – offering highly specialized services delivered by top legal talent from around the country.

“We are incredibly grateful and proud of what we have accomplished in just five years, but there’s still more to come,” said Sean Southard, a founding partner of CGS3. “Our team understands the intricate, fast-moving world of commercial real estate, and we are committed to delivering a best-in-class experience to our clients while getting even the most challenging deals done efficiently and without compromising their legal interests.  Our client list is rapidly growing because of it.”

About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)

Since its inception in 2013, CGS3 has quickly established a reputation as one of the leading real estate law firms in California, attracting some of the state’s finest real estate attorneys from both large corporate firms and senior in-house positions.

With practice areas including land use, finance, acquisition/disposition, entity formation, tax, development, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024.

For more information, visit http://www.cgs3.com.

Media Contact:  Sydnie Moore (619) 823-8448 Moore2com@gmail.com

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CGS3 Named Among San Diego’s Most Important Law Firmshttp://cgs3.com/cgs3-named-among-san-diegos-most-important-law-firms/ Thu, 17 May 2018 17:48:26 +0000http://cgs3.com/?p=3614

Our City San Diego Spotlights 20 Significant San Diego Firms

 

SAN DIEGO (May 11, 2018) – Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) is ranked number two in Our City San Diego’s round-up of “San Diego’s 20 Most Important Law Firms” – which highlights firms having the biggest impact on the area’s local business and real estate economies.

The story appears in the San Diego business magazine’s Spring 2018 edition.

Founded just five years ago, CGS3 is featured in the ranking with such powerhouse firms as Allen Matkins, Cooley, Dentons, DLA Piper, Latham & Watkins and Fish and Richardson – most of which have been in business for decades.

Since opening in 2013, CGS3 has quickly evolved into one of the region’s leading commercial real estate law firms – with offices in Los Angeles and San Diego serving clients across the country.

 

About Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)

CGS3 is an elite commercial real estate law firm with a reputation for an industry-leading real estate law practice in California and attracting top legal talent from both large firms and senior in-house positions.

With practice areas including land use, finance, acquisition/disposition, entity formation, tax, development, leasing, distressed assets and litigation/disputes, CGS3 handles transactions across all asset classes and of all sizes, scopes and complexities. CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024.

Media Contact: Sydnie Moore – (619) 823-8448 / moore2com@gmail.com

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CGS3 Recognized in Renowned Chambers USA 2018 Guidehttp://cgs3.com/cgs3-recognized-in-renowned-chambers-usa-2018-guide/ Fri, 11 May 2018 23:25:01 +0000http://cgs3.com/?p=3593SAN DIEGO (May 11, 2018) – Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) – an elite commercial real estate law firm based in Southern California – has joined the ranks of a small number of respected law firms worldwide by earning a prestigious recognition as a top California real estate law firm in the Chambers USA 2018 Guide.

CGS3 is among 21 California real estate law firms to be recognized in this year’s Chambers Guide.

Chambers & Partners is a highly regarded resource for identifying leading attorneys and law firms across the United States and internationally. Law firms featured in the Chambers Guide are selected after an extensive submissions process and an in-depth investigation conducted by Chambers and Partners’ team of more than 170 researchers. The Chambers USA Guide is published yearly in May.

“We are thrilled to be recognized as part of a group of the top law firms in the world,” said CGS3 partner Sean Southard. “Chambers’ recognition of CGS3 is a real testament to the quality of our people, our business platform and our lawyering skills. We are incredibly honored by this distinction.”

 

About Chambers USA

Chambers USA relies on client and market feedback, in addition to firm-supplied information, to develop its annual rankings. Chambers considers technical legal ability, professional conduct, client service, commercial astuteness, diligence, commitment and other qualities valued by clients when determining rankings.

 

About Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)

CGS3 is an elite commercial real estate law firm with a reputation for an industry-leading real estate law practice in California and attracting top legal talent from both large firms and senior in-house positions.

With practice areas including land use, finance, acquisition/disposition, entity formation, tax, development, leasing, distressed assets and litigation/disputes, CGS3 handles transactions across all asset classes and of all sizes, scopes and complexities. CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024.

For more information, visit http://www.cgs3.com.

Media Contact: Sydnie Moore – (619) 823-8448 / moore2com@gmail.com

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