About Brian M. Spangler

Brian Spangler advises real estate developers, investors, lenders and operators in an array of complex commercial real estate transactions, including acquisitions, dispositions, joint ventures and preferred equity investments, development, financing, long-term ground leases, and space leases.

Melding legal concerns with business objectives

Clients rely on Brian for his pragmatic, business-oriented advice. Brian seeks to understand his clients' fundamental business objectives in each transaction and renders legal advice that furthers such objectives.

Brian also represents community, educational and philanthropic organizations in real estate matters on a pro bono basis and is an active member of the Chicago chapter of the Urban Land Institute.

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Practice Focus

  • Real estate
  • Real estate equity and investments
  • Real estate finance and lending

Representative Experience

  • Represent institutional investor in the development and build-to-suit lease of a 782,000-square-foot industrial facility.
  • Represent publicly traded REIT in the $442.5 million sale of an industrial freezer portfolio.
  • Represent an institutional investor in the $652 million acquisition and financing of a Class A office building in Lower Manhattan, New York.
  • Represent private equity fund in the sale of REITs owning $228 million in industrial real estate assets across five states.
  • Represent institutional landlord and investor in leasing Class A office space in Chicago comprising more than three million square feet.
  • Represent an intuitional investor in the $295 million sale of 42 industrial properties across seven states.
  • Represent private equity fund in a 99-year ground lease and data center development with a Fortune 500 public company.
  • Represent private equity fund client in securing a $110 million construction loan for development of a multifamily project in Chicago's River North neighborhood.
  • Represent private equity fund in a $255 million Class A office development in Minneapolis, Minnesota.
  • Represent public company in leasing 256,000 square feet of industrial warehouse space from an institutional landlord.
  • Represent a public company in the $86.35 million sale of an office and retail mixed-use development in Chicago, Illinois.
  • Represent a developer client in connection with a $35 million construction loan relating to a multifamily development in the River North neighborhood in Chicago, Illinois.
  • Represent a real estate investment fund in connection with the $114.3 million acquisition of a full-service boutique business hotel and restaurant in Chicago, Illinois, which hotel is part of a multi-owner building.
  • Represent institutional investor in leasing 387,000 square feet of industrial space to a third-party logistics provider.
  • Represent a private equity fund in $74.5 million sale of stabilized multifamily development in the West Loop neighborhood of Chicago, Illinois.
  • Represent an institutional investor in preferred equity investment and acquisition and mortgage financing of $58.265 million multifamily development in Houston, Texas.
  • Represent mortgage lender in a $63.75 million mortgage loan secured by a prominent boutique hotel development in Chicago's West Loop neighborhood.
  • Represent institutional investor in $79.75 million acquisition of the office portion of a mixed-use development in Chicago, Illinois.
  • Represent a private equity firm in the $86 million sale of a hotel, spa and golf resort in Scottsdale, Arizona.
  • Represent an institutional investor in the $87 million sale of a student housing project in Ann Arbor, Michigan.


  • 2014
    The ACREL Papers
  • 2012
    Heads I Win, Tails You Lose: The Psychological Barriers to Economically Efficient Civil Settlement and a Case for Third-Party Mediation