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Time Is of the Essence in Closing Deals. So Is Technical Risk Expertise.

An international law firm had three days to close a real estate deal on a site with known environmental conditions.

Hylant's team expedited service, expertly manuscripted the highly technical policy terms and secured a retroactive policy binding date in record time for this international law firm's financial client.

Learn What Happened

The Challenge

An international law firm working on a real estate deal recommended site pollution insurance to its financial client related to construction of a large warehouse distribution center. The site had known environmental conditions with open issues.

Adding to the challenge: the transaction was set to close in three days, and the technical detail needed for underwriting was lagging behind.

The deal team convinced its client to rely on Hylant for this urgent project instead of on the client's traditional broker, knowing Hylant's commitment to service based on prior transactions.

The Solution

Hylant partnered with the insurer to write an acceptable coverage proposal based on assumptions of what was yet to arrive, keeping time with the closing schedule. As the deal went to closing, the insured offered the expected site reports coupled with a change in ownership structure, an expanded site footprint, a new known condition challenge, and more than a dozen wording changes to the policy. The insured also wanted to backdate the policy to match a prior land transfer, promising their warranty application within five business days of policy inception.

Working late into the night, Hylant and the insurer revised the proposal, making sure all details were accurate; almost every policy endorsement was affected by the changes.

The insurance placement was ready and the transaction closed successfully. As designed, known condition limitations in the policy at binding were removed shortly after inception, once regulatory closure approvals were secured. Both the law firm and the insured have since sought Hylant's M&A and Transaction Solutions team help on numerous additional real estate deals.

Technical Risk Expertise

Technical knowledge is crucial in protecting client investments in complex real estate transactions. So is a willingness to do whatever it takes to meet project deadlines. Hylant delivers both.

Results for the Client

Transaction Complete

Successfully and on time

Client Protected

Environmental risk transferred with ability to improve terms once known issues were resolved

Terms Achieved

Coverage bound retroactively

Trusted Advisors

Hylant team members are ready to advise you and help you confidently address your needs.

Kip Irle

Kip Irle

Global M&A | Transaction Solutions Leader

Casey Johnson

Casey Johnson

Managing Director - Transactional Risk

Warren Philipp Jr.

Warren Philipp Jr.

Managing Director - Transactional Risk

Michelle Molnar

Michelle Molnar

Managing Director - Due Diligence

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