Opinion ID: 1967796
Heading Depth: 2
Heading Rank: 1

Heading: The Parties, the Property, and the ROFO

Text: Anthony Lanier is president of EastBanc, Inc., a corporation that has been developing commercial real estate in Georgetown since 1996. Herbert S. Miller is the sole general partner of Georgetown Park Associates II Limited Partnership (GPA II). Acting' on behalf of EastBanc, Mr. Lanier decided that he wanted to buy the Georgetown Park Mall (the Mall or the Property), which was owned by Georgetown Park Associates (GPA). However, in an earlier transaction with GPA, Mr. Miller and GPA II had acquired a Right of First Offer (ROFO) for the Mall. Similar in many ways to a right of first refusal, a ROFO affords the holder an opportunity to purchase property before it is sold to a third party. Thus, in order to acquire the Mall, Mr. Lanier had to contend with the ROFO, which GPA II owned.