Thomas M. McElroy, II

Mel McElroy is Co-chair of the Firm’s Real Estate Practice. He represents a diverse group of clients investing in real estate assets throughout the United States. Mel’s practice emphasizes complex development projects, the acquisition & disposition of commercial properties, and commercial leasing. His experience encompasses hospitality, mixed-use, retail, medical, office, multi-family, and industrial assets.

Development & Redevelopment

Mel represents developers throughout the life cycle of a project, guiding them through the land acquisition and entitlement process, working with state and local governments to obtain incentives, negotiating leases and property management/leasing agreements, and sourcing debt and equity financing. Mel also handles development agreements, REAs, CC&Rs, construction contracts, architect agreements, and other key development documents.

Financing

Clients turn to Mel for counsel in sourcing both debt and equity capital for their projects – routinely closing mortgage and mezzanine loans with banks, insurance companies, securitized lenders, and private equity funds. He advises both sponsors and limited partners in structuring and negotiating equity investment agreements with individuals, family offices, institutions, and funds.

Investment and Operations

Mel partners with his clients to facilitate their acquisition, sale, and management of commercial real estate assets. His services include structuring and negotiating purchase and sale agreements, conducting due diligence, setting up franchise, management and leasing agreements, obtaining debt and equity capital, and handling closings. He also works closely with clients to solve property management issues which often involve lease enforcement, workouts, restructurings, and recapitalizations.

Commercial Leasing

Mel negotiates and drafts leases for owners and tenants in retail, mixed-use, office, medical, and industrial projects. His extensive experience includes anchor/credit tenant leases, restaurant leases, pad and shop leases, ground leases, build-to-suit leases, single-tenant leases, and sale-leaseback transactions.

Affiliations & Civic Involvement

• Affiliations & Civic Involvement
• American Hotel & Lodging Association
• International Council of Shopping Centers, Member
• National Multifamily Housing Council
• American Bar Association
• Alabama State Bar Association
• Birmingham Bar Association
• Homewood Downtown Redevelopment Authority (Homewood, Alabama), Member
• All Saints Episcopal Church – Senior Warden (2014), Vestry (2013-2014), Finance Committee (current)