Serena Sayani

Admissions

• Washington, 2005

Education

• New York Law School, J.D., magna cum laude (2005)
• University of Western Ontario, B.A.C.S. (2002)

Recognition & Honors

• The Best Lawyers in America - Real Estate Law (2022 - 2024)
• Rising Rock Star, CREW Elevate Awards (2019)
• Up-and-Coming CRE Attorney, Puget Sound Business Journal (2019)
• John Marshall Harlan Scholar & Recipient of Merit-Based Dean’s Scholarship

Representative Work

• Representation of seller, borrower, sponsor equity investor, the affiliated developer, general contractor, architect and property manager in the recapitalization, joint venture, development, construction and construction loan for a 322-unit development project in West Sacramento, California.
• Representation of the borrower and sponsor equity investor in a joint venture and assisted with the structuring of the transaction on the sale of two separate properties in Stockton, California for $70M and $75M, respectively, with a same-day reacquisition of the properties through a joint venture with a loan assumption in the amount of $34M.
• Representation of the borrower, sponsor equity investor, the affiliated developer, general contractor, architect and property manager in the structuring, joint venture and acquisition of six separate land parcels, which were then consolidated into one lot, with a final closing on a joint venture, development, construction and construction loan for the development of a 240-unit project.
• Representation of the borrower and sponsor equity owner of a $61M re-financing of an opportunity zone development project with the representation of the buyer, sponsor equity owner, the affiliated general contractor, developer, property manager and borrower of the construction loan during 2020 when the land was originally acquired through a joint venture, including assisting with the structure of the acquisition to accommodate certain tax implications of the opportunity zone development.
• Representation of the seller and exiting borrower on the loan assumption and defeasance on the sale of two properties in West Sacramento, California for $58M and $64M, respectively, with a defeasance loan closing in the amount of $22M.
• Representation of the seller, borrower and sponsor equity owner on the sale of a property in Arizona for $40M, with a same-day recapitalization and reacquisition of the properties through a joint venture with a permanent loan in the amount of $28M.
• Represented issuer and managing member on the formation, structuring and offering for a privately held real estate investment fund in the amount of $60.4M with private investors.
• Representation of an equity sponsor, developer, contractor and architect in a $75.5 million joint venture partnership and development, and $45 million construction loan, of multi-family opportunity zone project in Washington.
• Representation of equity sponsor and developer in a $23 million financing of a multi-family project in Washington.
• Representation of a developer in a $33.5 million refinancing of a multi-family project in California.
• Representation of purchaser of a $16 million acquisition and financing of office building in Bellevue, WA.
• Lease of 285,000-square foot office building to national credit tenant in Denver.
• Recapitalization and Joint Venture of $105 million multifamily portfolio in Washington and California.
• Recapitalization and Joint Venture of $95 million multifamily portfolio in Oregon and California.
• Asset Sale and Membership Interest Sale of $53 million design and manufacturing company in Washington.
• Acquisition of $160 million new construction apartment project in Washington, D.C.
• Development of $65 million apartment project in Pennsylvania.
• Lease of 75,000 square feet of office space to national credit tenant in San Francisco.
• Lease of 30,000 square feet of retail space for national retail chain in Los Angeles.
• Participating secured $78 million loan for construction of office project in Seattle.
• Membership interest purchase and financing of $50 million apartment portfolio in California and Washington.
• Joint venture in $15 million predevelopment project.
• Lease of 4,000-square foot restaurant/bar to local chain owner/operator in Bellevue.

Professional & Community Activities

• Co-Founder and Board Member, WOC (Women of Color) Together
• Board of Governors, District 7 - South Governor, Washington State Bar Association
• Board Member, Big Brothers Big Sisters of Puget Sound
• Board Member, ArtsFund
• Past Board Member, Commercial Real Estate Women (CREW)
• Co-chair, Diversity & Inclusion Committee, NAIOP
• Member, Washington State Bar Association Diversity Committee
• Member, Diversity and Inclusion Committee of Stokes Lawrence, P.S.
• Member, Martin Luther King, Jr. Luncheon Committee, King County Bar Association
• CREW Seattle Mentor (2018 - 2019)
• Attorney Mentor-Coach for Mercer Island High School Mock Trial Team (2018 - 2019)
• University of Washington School of Law mock trial competitions, judge

Publications & Presentations

• "Real Estate Joint Ventures, Purchase & Sale Agreements, Fee Structures," lecturer, Master of Science in Real Estate, University of Washington (February 2023)
• “E-Signing In A Virtual World,” co-presenter with Kathleen Burton, WSBA RPPT Conference (June 2022)
• “Diversity, Equity & Inclusion: The Business Case and Positive Effects on Business,” presenter, Lawyers Associated Worldwide Annual Conference, Monterrey, Mexico (April 2022)
• "Real Estate Joint Ventures, Purchase & Sale Agreements, Fee Structures," lecturer, Master of Science in Real Estate, University of Washington (February 2022)
• "E-Signing in a Virtual World," co-author with Kathleen Burton, blog post, StokesLaw Briefs (March 2021)
• "The LLC Escape Door: The Importance of an Exit Strategy in Your Operating Agreement and the Mechanics of the Buy/Sell," author, blog post, StokesLaw Briefs (March 2021)
• “The Time for Change is Now: Developing & Promoting Leaders of Color,” panelist, Women in Legal & Corporate Leadership virtual summit (October 2020)
• “Race and Real Estate: How Did We Get Here and Where Are We Going?” moderator, NAIOP Washington (July 2020)
• "Proper Usage of Endorsements and Exceptions," co-presenter with Julia Clark, East King County Bar Association Real Property Section meeting (July 2020)
• “Contracts vs. COVID-19: Force Majeure to the Rescue?,” co-author with Eric Robinson, blog post, StokesLaw Briefs (March 2020)
• “Co-Tenancy Clauses, COVID-19 and Force Majeure,” author, blog post, StokesLaw Briefs (March 2020)
• "Commercial Real Estate Leasing - The Top 10 Things You Must Know," co-presenter with Erin Howshar, NBI audio presentation (December 2019)
• "Amazon is behind the quick-changing CRE landscape," author, opinion article, Puget Sound Business Journal (August 2019)
• "Real Estate Leases: Negotiating Key Provisions," co-presenter with Erin Howshar, NBI CLE (June 2019)
• "Deal Maker: Connections Meet Success," panelist, 2019 Mentor NAIOP Program Panel Discussion (June 2019)
• "Operating Expenses: Overlooked Concepts to Consider in Triple Net Leases," co-author with Erin Howshar, blog post, Stokes Law Briefs (February 2019)
• "Negotiating Triple Net Leases," co-presenter with Erin Howshar, NBI Seminar (January 2019)
• "Avoiding Pitfalls in Construction Lending," co-presenter with Erin Howshar, Client Seminar (September 2018)
• "Youth and Justice Forum," panelist, Heritage University ( June 2018)
• "Hot Button Issues in Negotiating PSAs," co-presenter with Erin Howshar, KCBA Real Property Section (January 2018)
• "The Growing Importance of the 'Continuous Operations' Clause in Retail Leases," author, blog post, Stokes Law Briefs (December 2017)
• Retrofitting Office Buildings to Be Green and Energy-Efficient, associate editor, Urban Land Institute (2009)
• “Commercial Real Estate A to Z,” presenter, NBI Seminar (2016)
• “UBIT and REIT Leasing Considerations,” presenter, Client Seminar (2016)
• “Structuring REIT Transactions,” presenter, Client Seminar (2016)
• “Analyzing Lease Issues in the Chain of Title,” presenter, NBI Seminar (2015)
• “Construction and Development Issues” presenter, Client Seminar (2014)
• “Retail, Office and Restaurant Leases:  Key Provisions and Warranties,” presenter, NBI Seminar (2013)

Background & Interests

After graduating from law school, Serena was employed at Shulkin Hutton, where she worked with corporate and individual debtors involved in bankruptcy proceedings under Chapter 11 and Chapter 7 of the Bankruptcy Code. Prior to joining Stokes Lawrence, she was part of the Real Estate and Capital Markets group at McNaul Ebel Nawrot & Helgren.