Breault, Adam M.

Tom is a shareholder in the firm of Briggs and Morgan, Professional Association. He is a member of the Financial Institutions and Real Estate Section, and is certified as a real property law specialist by the Real Property Law Section of the Minnesota State Bar Association (MSBA). He is also a fellow of the American College of Real Estate Lawyers. Tom practices principally in the areas of:

• Real estate development
• Commercial real estate sales and acquisitions
• Workouts and foreclosures
• Land use and zoning
• Real estate finance
• Commercial leasing

Commercial Real Estate

Tom has more that 20 years experience representing both corporate and individual clients all types of real estate acquisition, financing, development, leasing and sale transactions. He has significant experience in residential and mixed use condominium and planned community developments, including condominium conversions. His recent work includes the representation of:

• A nonprofit senior housing provider in connection with the acquisition and financing of a senior housing campus;
• An individual in the sale of a $1.5 million historically designated building;
• A master developer in connection with the development of a 180-unit residential master association and three component condominiums;
• A nonprofit development assistance entity in connection with the negotiation and drafting of covenants, conditions, restrictions and easements executed in connection with the conversion of a former department store to a mixed-use retail, residential and office complex; and
• A developer in the conversion of an apartment building to residential condominiums.

As a complement of his practice, Tom works closely with the public finance team and often serves as special counsel to cities in connection with commercial real estate development projects. Most recently, he has assisted municipality clients with:

• The acquisition of a restaurant parcel for redevelopment;
• A 300-acre mixed-use development and the workout of various development issues upon the bankruptcy of the developer and foreclosure by the developer’s lender; and
• The acquisition of excess right-of-way from the Minnesota Department of Transportation and sale of the excess right-of-way to a developer as a part of a municipal development agreement.

Workouts and Foreclosures

In his work with lenders and creditors, Tom has been involved in numerous workouts, including foreclosures by advertisement and foreclosures by action. Recent transactions include representing lenders in the foreclosure of mortgages on the unsold units in condominium developments, as well as partially developed and undeveloped residential property.

Commercial Leasing

Tom represents both landlords and tenants with all types of commercial leasing arrangements involving office, retail and industrial property. Most recently, he handled:

• Representation of a regional airport commission in connection with the negotiation of a 30-year ground lease for facilitating private development within the airport, and
• Representation of real estate investor in connection with the purchase of a 250,000-square foot-downtown office building and subsequent leasing activities. 

Admissions, Memberships and Education

Tom is vice chair of the MSBA’s Minnesota Common Interest Ownership Act (MCIOA) Committee of the Real Property Law Section for which he has been a member since 1989. He participated in the drafting of the Minnesota Common Interest Ownership Act and its subsequent amendments. Tom is also a member of the Real Property Law Council of the Real Property Law Section of the Minnesota State Bar Association.

In the community, Tom actively assists a large local nonprofit with issues relating to residential development and condominium construction. He also recently provided pro bono counsel to an organization serving domestic abuse victims on leasing issues related to a new facility.

Tom received his B.A. from the University of Minnesota and his law degree magna cum laude from the University of Minnesota Law School. He was an associate articles editor for the Minnesota Law Review and elected to Order of the Coif. He has been listed repeatedly in Chambers USA and Minnesota Super Lawyers for real estate. He joined Briggs in 1988.