Paul Eklund is a partner in Nutter’s Corporate and Transactions Department, chairs the firm’s Investment Funds practice group, and is a member of the Commercial and Real Estate Finance and Philanthropy practice groups. Middle market companies, family-owned businesses, financial institutions, real estate developers and institutions, and not-for-profit organizations all rely on his 35+ years of experience and judgment in mergers and acquisitions, joint ventures and partnerships (both real estate and corporate), fund formations, corporate governance, finance, and business succession planning. Manufacturers and distributors, health care companies, health insurers, and start-ups rely on his experience and judgment in facilitating their various business arrangements and growth. Financial institutions rely on his experience and judgment in asset-based, health care, and REIT lending, as well as mezzanine, subordinate, and bond financings. Paul’s clients include Bank of America, TD Bank, Tufts Health Plan, Pine Street Inn, Lallemand Inc., Tedeschi Food Shops, Equity Resource Investments, and PYMNTS.com.
Notable Experience and Client Impact
- Assisted a not-for-profit corporation in its consolidation with another not-for-profit corporation in a similar but complementary line of business. Provided advice on the structure of the transaction, both from the tax exempt, regulatory, and corporate perspectives. Documented and negotiated the transaction, and provided advice to the Board of Directors on governance considerations.
- Represented a not-for-profit corporation in a restructuring of its unusual and complicated corporate structure involving not-for-profit and for-profit corporations. Provided tax, corporate, regulatory, and governance advice to our client to enable it successfully to complete the restructuring.
- Assisted an international manufacturing company in completing many strategic acquisitions of complementary, worldwide businesses, including resolution of issues related to significant IP assets and earn-out payments, and provided advice on many joint ventures and other strategic alliances.
- Represented a health insurance company in its acquisition of a not-for-profit Medicaid provider of health insurance, which included earn-outs, and in its acquisition of a for-profit durable medical equipment supply company.
- Assisted a privately-held real estate company in the corporate restructuring of its complex organizational structure, including the admission of an additional partner, and the buyout of the company’s investors in a myriad of partnerships, limited liability companies, and corporate general partners/managers.
- Represented a large regional convenience store chain in its sale to a strategic buyer. The transaction involved many stores, some of which were owner-occupied real estate and some of which were leased, some of which were company-operated and others of which were franchised, some of which sold liquor and/or gasoline, and all of which sold lottery tickets.
- Helped a regional distributor in its roll-up strategy, which included numerous acquisitions in same vertical space throughout the Northeast.
- Served as special counsel to the Board of Governors in connection with sale of the system to for-profit entity. Nutter was independent counsel to the Board with respect to fiduciary duties and processes in evaluating and approving the proposed transaction, and provided advice with regard to officers and directors liability insurance.
- Represented the lender to a hospital system, including acquisition financing, bond financing, and revolving lines of credit.
- Represented various lenders in their loans to real estate investment trusts, real estate funds and other real estate sponsors.
Paul stays up to date through his involvement in several professional organizations as a member of the Association for Corporate Growth, the Family Firm Institute, and the National Association of Industrial and Office Properties. He is a member of the American, Massachusetts, and Boston Bar Associations. A sought-after author, Paul has written many articles on real estate funds and serves as the editor of LexisNexis’ Massachusetts Corporate Forms.
- Phoenix Property Company/Lincoln Property Company
Nutter represents a joint venture between Phoenix Property Company /Lincoln Property Company and an institutional investor in the permitting and transactional aspects of a large, complex, multi-party residential/hotel/retail mixed-use project with underground garage to be constructed on the land known as Parcel K, owned by the Massachusetts Port Authority, that is located in the Seaport District in Boston. The Project will consist of a 12-story apartment building with 304 apartments, a 12-story, 294-room hotel, office and retail space in both towers and a 1-level underground garage. Our work leading up to the initial closing involved the negotiation of: the acquisition of the Project development rights from a prior developer; the joint venture between Phoenix Property Company/Lincoln Property Company and an institutional investor; the transfer of the hotel development rights to a joint venture between Hyatt Hotels Corporation and a hotel operator; multiple ground leases with Massport for the separate Project components; a construction loan with JPMorgan Chase, N.A. as lead lender; and a complex reciprocal easement agreement among the different Project components; as well as addressing complex permitting and title issues (including the creation of multiple air rights parcels).
- Tedeschi acquisition by 7-Eleven
Negotiated the sale of Tedeschi Food Shops, Inc., a family-owned business, to 7-Eleven Inc., a major, complex transaction for a long-time Nutter client, resulting in Tedeschi’s 181 markets in Massachusetts and New Hampshire becoming part of 7-Eleven’s chain of 10,500 stores in North America.
- Lallemand, Inc.
In March 2016, Lallemand USA, Inc., a US subsidiary of a global yeast manufacturing company, acquired 100% of the equity of USA Yeast Company, LLC, a yeast manufacturing plant and business based in Mississippi, for an undisclosed sum.
- Privately-held real estate company
Corporate restructuring of complex organizational structure including admission of an additional partner, and the buyout of company’s investors in a myriad of partnerships, limited liability companies and corporate general partners/managers
- Family-owned distributor
Roll-up strategy; numerous acquisitions in same vertical space throughout the Northeast
- Leading automobile dealership
Acquisition of 14 dealerships and related real estate throughout New England
- Privately-held international manufacturing company
Strategic acquisitions of several complementary, worldwide businesses, including resolution of issues related to significant IP assets
Included earn out payments over time
- Top-rated health plan
Acquisition of Medicaid provider of health insurance
$130 million and earn-outs
- Major not-for-profit hospital system
Special Counsel to the Board of Governors in connection with sale of the system to for-profit entity. Independent counsel to the Board with respect to fiduciary duties and processes in evaluating and approving the proposed transaction. (Firm also provided advice with regard to officers and directors liability insurance.)
- Not-for-profit merger
Nutter represented a not-for-profit corporation in its consolidation with another not-for-profit corporation in a similar but complementary line of business. We provided advice on the structure of the transaction, both from the tax exempt, regulatory and corporate perspectives. We documented and negotiated the transaction, and provided advice to the Board of Directors on governance considerations.
- Not-for-profit restructuring
Nutter represented a not-for-profit corporation in a restructuring of its unusual and complicated corporate structure involving not-for-profit and for-profit corporations. We provided tax, corporate, regulatory and governance advice to our client to enable it successfully to complete the restructuring.
News & Insights
- Boston Business Journal, 01.15.2010
- Boston Business Journal, 01.16.2009
- The Real Estate Finance Journal, Winter 2009
- Massachusetts Super Lawyers, 2004-2005
Education & Admissions
Harvard Law School, J.D., cum laude
Williams College, B.A., magna cum laude
A sought-after author, Paul has written many articles on real estate funds and serves as the editor of LexisNexis’ Massachusetts Corporate Forms.
Massachusetts Super Lawyers, 2004-2005