Jay Heckenlively is Principal and General Counsel for LDK Ventures, LLC and McClellan Park. Mr. Heckenlively’s primary responsibilities are oversight of all legal affairs, business structuring, and preparation of transactional documentation. He has more than 25 years of experience in the real estate industry as a transactional real estate attorney, specialized in the structuring of complex commercial real estate purchase and sale transactions, leasing, joint venture formation and loan transactions.
Upon graduation from McGeorge School of Law in 1988, Mr. Heckenlively accepted an associate attorney position with the commercial real estate law firm of Trainor Robertson. Trainor Robertson is the largest commercial real estate law firm in Sacramento and the Central Valley region, representing national and international clients in all facets of commercial real estate matters. Mr. Heckenlively was appointed as a shareholder in Trainor Robertson in 1995.
In August of 1999, through his 10-year representation of Stanford Ranch, a venture formed by Larry Kelley and Morgan Stanley Real Estate Group, Mr. Heckenlively was appointed the transactional outside legal counsel for McClellan Business Park, representing the venture in all facets of leasing and operational matters associated with the 8.5 million square feet of existing facilities on approximately 3,000 acres of land. In December 2001, Mr. Heckenlively completed the master purchase transaction on behalf of the venture with the County of Sacramento, which involved multiple layers of leasehold interests, hybrid financing vehicles, and a conversion to fee title process upon completion of environmental remediation activities orchestrated with the USAF.
To date, Mr. Heckenlively has negotiated and completed approximately 400 leases for the McClellan venture involving in excess of 8,000,000 square feet of leasing, and closed financing transactions with both public and private funds of over $500,000,000.00 in loan proceeds. In 2008, after 6 years of negotiations with U.S.EPA, California DTSC, USAF, and the County of Sacramento, Mr. Heckenlively oversaw the final approval of the first privatized early transfer of environmental remediation on an NPL site in the nation, which transaction is now being used as a template for similar transactions at McClellan and other military base closure projects. Significant and extensive relationships with the legal counsels and staffs for the U.S.EPA, California DTSC, USAF, and the County of Sacramento have been developed by Mr. Heckenlively which are critical in completing the redevelopment efforts at McClellan and navigating the numerous federal and state requirements.
Sacramento have been developed by Mr. Heckenlively which are critical in completing the redevelopment efforts at McClellan and navigating the numerous federal and state requirements.