Steve Waters serves as Chair of the Real Estate Section of Haynes and Boone, LLP. He has more than 35 years of experience handling commercial real estate transactions, representing sellers, buyers, owners/landlords, developers and lenders, for all property types. He has special expertise in choice of entity and entity formation (partnerships, LLPs and LLCs), in corporate facilities/leases transactions, and in retail development.
Selected Client Representations:
Mr. Waters' recent transactions include representations of:
- Public REIT in joint venture transaction with pension fund partners admitted to own core office property assets.
- Life insurance company in sale of headquarters property and surrounding 40 acres to retail developer.
- Majority owner in a destination resort/golf course venture with the developer and hotel manager; included syndicated outside financing.
- Landowner in a venture with a national retail developer, to develop a super regional mall.
- Retail developer in site acquisition and development of 1MM square foot retail power shopping center.
- REIT in securitized loan secured by multi-state, office portfolio.
- REIT in $6 billion real estate portfolio disposition.
- International auto auction company as tenant in a long-term, reverse build-to-suit lease transaction.
- Large Texas construction company in a "land bank" transaction with major national homebuilder.
- Lumber, hardware and concrete business in a franchise tax reorganization.
- Major food brokerage company in sale of assets.
Selected Professional and Community Service Activities:
- Chair, North San Antonio Chamber of Commerce (2006)
- President, Real Estate Council of San Antonio (2001)
- Founder and Chair, Real Estate Council of San Antonio Leadership Development Program (2004-2005)
- Executive Committee Member, San Antonio Economic Development Foundation (2004- ), Secretary/Treasurer (2007- )
- Chair, State Bar of Texas, Business Law Section (1994-1995)
- President, Alamo Heights School Foundation (1999-2001)
- Chair, Alamo Heights School Foundation Endowment Campaign (2004-2006)
Professional Recognition
- Recognized as one of The Best Lawyers in America - Real Estate (Woodward/White, Inc., 2010) He has been listed in The Best Lawyers in America for more than 10 years.
- Recognized as a Super Lawyer - Real Estate (2009)
- Recognized by Chambers USA as a leading lawyer in Real Estate (2009)
Selected Representative Experience
Debt Restructure and Collections
Represented Southwest Savings Association, Bonnet Resources, Amresco, and Sunbelt Savings Association in connection with the collection of hundreds of loans including, real property foreclosures, personal property foreclosures, litigation, demands for payment, restructurings, and bankruptcies. These loans covered all industries and involved many novel factual and legal issues.
ADESA in Reverse Build-to-Suit Lease
Represented ADESA, Inc., in a reverse built-to-suit lease covering approximately 200,000 square feet in the Dallas Logistics Center.
Sale of Assets - Resort and Hotel
Sale of resort and hotel assets and an office asset for a gross purchase price of more than $600 million.
Site Acquisition, Development, and Leasing
Site acquisition, development, and leasing of lifestyle shopping centers and neighborhood and community retail shopping centers.
USAA Real Estate Company in Acquisition, Sale, and Partnership Transactions
Represented USAA Real Estate Company in the sale of a $471 million industrial portfolio of 23 properties containing more than 10 million square feet in California, Ohio and Tennessee; represented the company in the acquisition of several hundred million dollars of partners’ interests in a six-property hotel portfolio in five states; and represented the company in forming a partnership to acquire a $300 million office portfolio to acquire properties outside Texas.
Online Publications
03/09/2009 -
Tenant Bankruptcy Can Result in Loss of Landlord’s Security
Landlords should be aware that, under current bankruptcy law, a tenant’s bankruptcy may limit the amount of a security deposit that is available to a landlord if a tenant rejects a lease. It is possible, however, to minimize the risk of loss, at least in some circumstances, through careful structuring of security devices.
12/01/2005 -
2005 Texas Usury Reform: Finance Code Amendments Relating to Commercial Loans
In Texas, a lender who contracts for, charges, or receives interest in excess of the amount allowed by law can be subject to harsh penalties. In 1997 and 1999, the Texas Legislature passed several significant reforms that provided some relief to lenders under Texas’ usury statutes.