Re: | AMB Property Corporation, a Maryland corporation (the Company); AMB Property, L.P., a Delaware limited partnership (the Operating Partnership) Registration Statement on Form S-3 pertaining to an unspecified number of senior or subordinated debt securities of the Operating Partnership (the Debt Securities) being registered for possible issuance from time to time at indeterminate prices and guarantees of the Debt Securities by the Company (Guarantees) |
(i) | the corporate charter of the Company (the Charter), represented by Articles of Incorporation filed with the Maryland State Department of Assessments and Taxation (the Department) on November 24, 1997, Articles of Merger filed with the Department on November 24, 1997, Articles of Merger filed with the Department on November 26, 1997, Articles Supplementary filed with the Department on July 23, 1998 (the July 1998 Articles Supplementary), Articles Supplementary filed with the Department on November 12, 1998, Articles Supplementary filed with the Department on November 25, 1998, Certificate of Correction filed with |
the Department on March 18, 1999, correcting the July 1998 Articles Supplementary, Articles Supplementary filed with the Department on May 5, 1999, Articles Supplementary filed with the Department on August 31, 1999, Articles Supplementary filed with the Department on March 23, 2000, Articles Supplementary filed with the Department on August 30, 2000, Articles Supplementary filed with the Department on September 1, 2000, Articles Supplementary filed with the Department on March 21, 2001, Articles Supplementary filed with the Department on September 24, 2001, Articles Supplementary filed with the Department on December 6, 2001, Articles Supplementary filed with the Department on April 17, 2002, Articles Supplementary filed with the Department on August 7, 2002, Articles Supplementary filed with the Department on August 7, 2002, Articles Supplementary filed with the Department on June 20, 2003, Articles Supplementary filed with the Department on November 24, 2003; Articles Supplementary filed with the Department on December 8, 2003; Articles Supplementary filed with the Department on December 12, 2005; Articles Supplementary filed with the Department on February 17, 2006; Articles Supplementary filed with the Department on March 22, 2006; Articles Supplementary filed with the Department on August 24, 2006, Articles Supplementary filed with the Department on October 3, 2006, Articles Supplementary filed with the Department on February 22, 2007 and Articles Supplementary filed with the Department on May 15, 2007; | |||
(ii) | the Bylaws of the Company, as adopted on November 24, 1997, as amended and restated pursuant to the First Amended and Restated Bylaws of the Company, on or as of March 5, 1999, the Second Amended and Restated Bylaws of the Company, on or as of February 27, 2001, the Third Amended and Restated Bylaws of the Company, on or as of May 15, 2003, the Fourth Amended and Restated Bylaws of the Company, on or as of August 16, 2004, the Fifth Amended and Restated Bylaws of the Company, on or as of February 16, 2007, and the Sixth Amended and Restated Bylaws of the Company, on or as of September 23, 2008 (the Bylaws); | ||
(iii) | the Written Organizational Action of the Board of Directors of the Company, dated as of November 24, 1997 (the Organizational Minutes); | ||
(iv) | resolutions adopted by the Board of Directors of the Company (the Board of Directors) on or as of December 11, 2008 (the Directors Resolutions); | ||
(v) | the Twelfth Amended and Restated Agreement of Limited Partnership of the Operating Partnership, dated as of August 25, 2006 (the Partnership Agreement); |
(vi) | a certificate of Tamra D. Browne, Senior Vice President, General Counsel and Secretary of the Company, dated as of August 14, 2009 (the Officers Certificate), to the effect that, among other things, the Charter, the Bylaws, the Organizational Minutes, the Directors Resolutions and the Partnership Agreement are true, correct and complete, and that the Charter and the Bylaws have not been rescinded or modified and are in full force and effect as of the date of the Officers Certificate; | ||
(vii) | a certificate of the Department as to the good standing of the Company, dated as of a recent date; | ||
(viii) | the Registration Statement and the related form of prospectus included therein (the Prospectus), in substantially the form filed or to be filed with the Commission pursuant to the Act; and | ||
(ix) | such other laws, records, documents, certificates, opinions and instruments as we have deemed necessary to render this opinion, subject to the limitations, assumptions and qualifications noted below. |
(a) | each person executing any of the Documents on behalf of a party (other than the Company and the Operating Partnership) is duly authorized to do so; | ||
(b) | each natural person executing any of the Documents is legally competent to do so; | ||
(c) | any of the Documents submitted to us as originals are authentic; the form and content of any Documents submitted to us as unexecuted drafts do not differ in any respect relevant to this opinion from the form and content of such documents as executed and delivered; any of the Documents submitted to us as certified or photostatic copies conform to the original documents; all signatures on all of the Documents are genuine; all public records reviewed or relied upon by us or on our behalf are true and complete; all statements and information contained in the Documents are true and complete; there has been no modification of, or amendment to, any of the Documents, and there has been no waiver of any provision of any of the Documents by action or omission of the parties or otherwise; | ||
(d) | the resolutions adopted and to be adopted, and the actions taken and to be taken by the Board of Directors including, but not limited |
to, the adoption of all resolutions and the taking of all action necessary to authorize the issuance and sale of the Securities and the making of the Guarantees in accordance with the procedures set forth below, have occurred or will occur at duly called meetings at which a quorum of the incumbent directors of the Company were or are present and acting throughout, or by unanimous written consent of all incumbent directors, all in accordance with the Charter and Bylaws of the Company and applicable law; | |||
(e) | none of the terms of any of the Securities, or any agreements related thereto, to be established subsequent to the date hereof, nor the issuance and delivery of any such Securities nor the compliance by the Company with the terms of any such Securities or agreements will violate any applicable law or will conflict with, or result in a breach or violation of, the Charter or Bylaws of the Company, or any instrument or agreement to which the Company is a party or by which the Company is bound or any order or decree of any court, administrative or governmental body having jurisdiction over the Company; | ||
(f) | the form of certificate or other instrument or document representing the Securities will conform in all respects to the requirements applicable under Maryland law; and | ||
(g) | that certain Indenture dated as of June 30, 1998, by and among the Operating Partnership, the Company and State Street Bank and Trust Company of California, N.A. (the Indenture), will be in full force and effect on the date subsequent to the date hereof on which any of the Debt Securities are issued and thereafter for so long as such Debt Securities are outstanding. |