The Turnaround Management Association’s Minnesota Chapter has awarded Taft Transaction of the Year

The Turnaround Management Association's Minnesota Chapter has awarded Taft "Transaction of the Year" for its representation of Lighthouse Management as receiver in the sale of an 18-story commercial office building in downtown St. Paul that had formally been the headquarters of Ecolab, Inc. A multi-disciplinary Taft team consisting of John McDonald (Insolvency), Tom Bray (Real Estate), Dan Moak (Commercial Litigation), and Yuka Shiotani (Commercial Litigation) successfully completed the transaction after months of litigation with various lienholders and a total of 24 amendments to the purchase agreement. The building was sold to Chicago-based Inland Real Estate Group for $18 million. Inland will be converting the office tower to residential.