David J. Murphy

Overview 

David J. Murphy counsels clients in the acquisition, development, sale, leasing, and financing of commercial real estate throughout New England and other states. David has significant experience in drafting and negotiating operating agreements, partnership agreements, and trust instruments. He advises on entity governance, distribution waterfalls, capital contribution structures, promote arrangements, fiduciary obligations, management rights, and tax-efficient investment planning. His entity practice covers formation, recapitalization, restructuring, and dissolution of LLCs, partnerships, limited partnerships, and other alternative structures.

David has significant experience in drafting and negotiating purchase and sale agreements, loan documents, construction contracts, design agreements, AIA forms, and commercial leases. He represents developers through site evaluation, due diligence, acquisition, permitting, zoning, financing, construction, leasing, and disposition. He counsels owners and investors in the purchase and sale of commercial properties, including shopping centers, office buildings, industrial and mill buildings, multifamily properties, and restaurant and hospitality businesses. He structures financing arrangements across construction loans, permanent loans, refinances, and mezzanine financing with regional and national lenders, and has experience with Fannie Mae, HUD/FHA programs, bond financing, and historic and affordable housing tax credits.

David is a committee member of the LLCs, Partnerships, and Unincorporated Entities Committee of the Business Law Section of the American Bar Association and a member of the Real Estate Section of the Boston Bar Association. He holds a B.B.A. from the University of Massachusetts Amherst, a J.D. from Suffolk University Law School, and an LL.M. in Taxation from Boston University School of Law.

Select Representative Matters

Joint Ventures & Preferred Equity

• Co-sponsors and investors in joint venture to develop a 600,000 square foot life science project in Somerville, Massachusetts, including negotiation of operating agreement, waterfall provisions, and management rights.
• Preferred equity investor in 188-unit multifamily apartment community in Covington, Georgia, including joint venture operating agreement and assignment and assumption of Fannie Mae loan.
• Preferred equity investor in 42-unit multifamily property in Raleigh, North Carolina for conversion to a $16M condominium project, including joint venture operating agreement and loan documents with New York private lender.
• Preferred equity fund in multiple investments across Massachusetts, Georgia, and North Carolina, with over $100M deployed across 60 projects.
• Sponsor in portfolio of investment and property ownership entities with preferred equity for development of properties throughout Massachusetts.
• Sponsors in multiple joint ventures in condominium projects with preferred equity and common equity investors throughout Massachusetts.
• Restaurant group in restructuring ownership of parent and subsidiary entities operating restaurants in Nantucket, Massachusetts and Palm Beach, Florida.
• Developer and nonprofit organization in joint venture for development of affordable housing in Roxbury, Boston, Massachusetts, including for-profit and nonprofit partnership arrangements.

Development

• Developer in 300-unit residential apartment community in Hyde Park, Boston, Massachusetts, coordinating across lenders, investors, contractors, and public authorities.
• Developer in mixed-use condominium developments totaling 79 residential units, commercial retail space, and automated parking in Winchester, Massachusetts, including entity structuring, construction contracts, architect agreements, and condominium documentation.
• Developer in phased mixed-use development in Brighton, Boston, Massachusetts. Phase one consisted of a religious center including a synagogue and ritual bath building. Phase two consisted of a 70-unit apartment building with underground parking. Scope included joint venture structuring, entity formation, construction financing, construction contracts, architect agreements, permitting, and condominium documentation across both phases.
• Developer in 55-plus active adult community consisting of 55 detached homes on 25 acres in Wrentham, Massachusetts, including homeowners association documentation and sell-out process.
• Developer in 60 affordable housing units in Roxbury, Boston, Massachusetts, including entity structuring, financing, and coordination with public housing authorities.
• Developer in hotel project in West End, Boston, Massachusetts, including acquisition, entity formation, permitting, and construction contracts.
• Developer in medical offices, apartments, and an assisted living facility in Taunton, Massachusetts, including purchase and redevelopment of mill buildings.

Acquisitions & Sales

• Owner in sale of Bank of America office building in Waltham, Massachusetts.
• Owner in purchase and leasing of shopping centers leased to national tenants including Federal Express, Petco, Kohl’s, and Dollar Tree in Saugus and Quincy, Massachusetts.
• Owner in land assembly in Somerville, Massachusetts for future development.
• Owner in purchase of mill buildings in Taunton, Lawrence, and Clinton, Massachusetts for redevelopment into medical offices, residential units, and cannabis cultivation facilities.
• Owner in purchase of industrial buildings in Fitchburg and Dedham, Massachusetts, including lease to the Commonwealth of Massachusetts for use as a courthouse.
• Owner in purchase of estate property consisting of a compound with several homes in Nantucket, Massachusetts.
• Purchaser in acquisition of multiple restaurant businesses and liquor licenses in North End and South End, Boston, Massachusetts, including structuring of asset sales, due diligence, and transfer of liquor licenses.

Financing

• Owner in construction financing of 70-unit apartment building in Brighton, Massachusetts.
• Owner in refinance of mixed-use building consisting of 20 apartments and retail space with historic tax credits in Downtown Crossing, Massachusetts.
• Owner in refinance of office building leased to Fisher & Phillips, UNUM, and Key Bank in Portland, Maine.
• Educational institution in construction financing for new student dormitory in Brookline, Massachusetts.
• Owners in multiple construction loans for condominium projects throughout Greater Boston, Massachusetts.
• Owner in refinance of 20-unit apartment building with affordable housing in Hyde Park, Massachusetts.

Leasing

• Owner in lease with Friendly’s Ice Cream for corporate office space in Natick, Massachusetts.
• Owner in leases for two seafood restaurants in Dorchester, Boston, Massachusetts.
• Owner in leases for national tenants including a real estate brokerage, retail stores, and pet store in Nantucket, Massachusetts and Leominster, Massachusetts.
• Tenant in lease for restaurant, bar, and indoor golf facility in South Boston, Massachusetts.
• Tenant in leases for fitness center and cycle studio in South Boston, Massachusetts.
• Educational institution in leases for shared dormitories, classroom space, and athletic facilities with international English language institute, local colleges, and private clubs in Brookline, Massachusetts.

Construction

• Owner in construction contracts for 22-unit townhouse condominium project in South Boston, Massachusetts.
• Owner in architect contracts for design of two mixed-use buildings with automated parking in Winchester, Massachusetts.
• Owner in construction contract for renovation of 14,000 square foot private residence in Back Bay, Boston, Massachusetts.
• Contractor in construction contract for religious center in Brighton, Boston, Massachusetts.

Condominium & Homeowners Associations

• Sponsor in renovation and sale of condominium units in mixed-use redevelopment of the Filene’s Building consisting of 80 commercial and residential units in Worcester, Massachusetts, including condominium documentation, association agreements, and sell-out process.
• Sponsor in renovation and conversion of historic Episcopal Church and rectory into two mixed-use condominium projects consisting of residential and office units in Beacon Hill, Boston, Massachusetts, including primary and secondary condominium structures and governance provisions.
• Sponsor in construction and sale of 112 townhouse condominium units in phased development in Norwood, Massachusetts, including condominium documents, association agreements, and governance provisions.
• Sponsor in construction and sale of 52 detached single-family homes in phased active adult community in Wrentham, Massachusetts, including homeowners association formation and documentation.