Real Estate Private Equity, Investments and REITs
Overview
We bring a multidisciplinary approach to the representation of our real estate clients, working as a team on sophisticated legal and business issues associated with complex, structured real estate transactions. Our lawyers practice in securities, corporate and finance, investment funds, tax, ERISA, real estate, and other relevant practice areas, providing us with a thorough understanding of all the real estate issues/matters which can impact your real estate transactions.
The bedrock of our relationship with clients is two-way communication about strategies, tactics and desirable outcomes, which allows us to work seamlessly with you to get the work done. We strive to enhance your business by leveraging our strategic relationships with industry professionals and maintaining goodwill with regulators.
That's why over 50% of the world’s largest real estate private equity investors rely on us to deliver their ground-breaking transactions.
Real Estate Private Equity and Joint Ventures Team
Real estate deals have grown increasingly complex in recent years, involving a wide range of investors and capital structures with multiple layers of equity and debt. These transactions require legal sophistication and broad industry knowledge to ensure success in the modern global economy.
Our track record includes the purchase and sale of, and other investments in, countless properties across the globe covering virtually every asset class, such as hotels, resorts, gaming, office, retail, industrial, multi-family, student housing and senior living properties. We represent an array of non-bank lenders in connection with the origination, acquisition and sale of mortgage loans, mezzanine loans, securitized loans, construction loans and preferred equity investments, and have vast experience with intercreditor participation and other co-lender agreements. We also advise clients (both lenders and borrowers) with respect to distressed loans, including restructurings, workouts and foreclosures.
From single asset transactions to portfolio deals, from ground-up development projects to long-term ground leases, and from joint ventures to company acquisitions, our real estate private equity lawyers have advised on many billions of dollars’ worth of transactions, meaning we can navigate and solve challenging issues when the stakes are at their highest for your business.
REITs Team
We regularly represent and counsel both public and private REITs, as well as their investors and lenders, in connection with a wide range of transactions. Collaborating across several offices, we have extensive experience with complex mergers and acquisitions, secured and unsecured financing, joint ventures, bond and equity offerings, REIT formation and conversion, spin-off transactions, initial public offerings and sophisticated taxation issues, across the full range of property sectors.
Our lawyers have a vast understanding of the everyday operating, corporate governance and securities issues which can be affected by REIT status. Our extensive experience working with REIT clients Arbor Realty, GPE and AIMCO, helps us to navigate the complicated rules and regulations to ensure you remain competitive with other real estate companies. As industry leaders, we play close attention to the market trends and key indicators that will affect you, your investments and returns, which in turn, gives us a practical understanding of your business needs, problems and concerns. We work closely with you to achieve your business objectives.
Fund Formation
We are recognized as one of the market leaders in investment funds. We act for several of the most active fund managers and have well-established capabilities across a variety of alternative investment sectors, including real estate, private equity, infrastructure and credit.
Our strong investor fund review practice advising corporate and government pension plans, retirement systems, foundations and sovereign wealth funds gives us insight into the issues faced on both sides of the investment table. Our experience spans a wide variety of structures, meaning we can support you from the inception and structuring of investment funds, club funds, joint ventures and investment mandates to equity raising, restructuring and exit strategies.
Real Estate Tax Team
Our extensive experience means we are well-prepared to assist you with the tax issues that often arise during complex real estate transactions.
We represent investors, real estate funds, real estate developers, public and private REITs, and pension fund advisors on the structuring of real estate fund formation, acquisitions and dispositions, financings and joint ventures. Our team regularly advises on tax strategies for inbound and outbound foreign real estate investment, as well as on tax-related opinions and disclosure materials in connection with sophisticated real estate transactions and any international, federal and state tax controversies in connection with those transactions.
We are particularly adept at balancing tax considerations and business objectives to achieve the best possible outcome for our clients.
Experience
Real Estate Private Equity and Joint Ventures
Largest Single Ski Resort Transaction in the History of the Sport
Location: US and Canada
Represented a private equity fund in the acquisition and financing of a portfolio of 14 ski resorts across the US and Canada, the largest single ski resort transaction in the history of the sport.
Acted on the Asset Management of Iconic London City Skyscraper
Location: UK, London
Acted on the asset management of iconic London city skyscraper, 20 Fenchurch Street, advising on the letting of all the 32 office floors and restaurant space, to occupiers such as RSA and Vanquis Bank.
Largest Real Estate Transaction Executed in the Netherlands in 2018
Location: Netherlands
Advised US Private Equity Real Estate Group HighBrook Investors on the largest real estate transaction executed in the Netherlands in 2018. In their largest deal to date, Highbrook purchased the Mesdag Delta Portfolio which consists of a mixed portfolio of 55 assets for over €615 million.
One of the Largest Casino Complexes in the US
Location: US, Oklahoma
Represented a private equity fund in a joint venture for the development of a 400-room hotel in Oklahoma, near the Texas border, and expansion of an adjacent gaming facility operated by a federal Indian tribe, which together is one of the largest casino complexes in the US.
Iconic Retail Parade and Longest Covered Shopping Street in the UK
Location: UK
Advising Thor Equities and Meyer Bergman on £300 million sale of Burlington Arcade, to billionaire brothers and private investors Simon and David Reuben. The iconic retail parade which welcomes four million visitors a year and is regarded is the longest covered shopping street in the UK and is home to luxury retailers Manolo Blahnik, Frederic Malle, Ladurée and La Perla.
Portfolio of Nine Logistics Properties Across Germany, Italy and France
Location: Germany, Italy, France
Advised global private equity fund, Ares Management on the acquisition of all logistics units from a special fund and on the acquisition financing of a portfolio of nine logistics properties across Germany, Italy and France from 11 different institutional investors.
15 Multifamily Properties in Brooklyn and Staten Island
Location: US, New York
Represented a real estate investment group in connection with a mezzanine loan secured by 15 multifamily properties in Brooklyn and Staten Island, which was part of a total financing package in the amount of $240 million.
Formation of Private Equity Real Estate Funds Which Raised Commitments of £310 Million
Location: Global
Advised Clearbell Capital on the formation of a series of private equity real estate funds including, most recently, Clearbell Property Partners III which raised commitments of £310 million from investors in the US, Australia, Europe, Middle East and South America.
Joint Venture to Acquire Office Building in California
Location: US, California
Represented a real estate opportunity fund in the acquisition of an office building in Irvine, California involving a joint venture with an operating partner, the modification of the existing mortgage loan and coordination with and among the seller, receiver, special servicer and mezzanine lender.
£429 Million UK Student Housing Portfolio
Location: UK
Advising Tristan Capital Partners on the acquisition of a majority 90% interest in a Downing developed and managed 3,636 bed UK student housing portfolio comprising four operational assets and four assets to be constructed for a sum of £429 million.
REITs
Acquisition of a REIT in a Stock-For-Stock Merger
Location: US
Represented client in the acquisition of a REIT in a stock-for-stock merger, forming a combined company with capitalization of approximately $7.8 billion.
£436 Million Portfolios of Leisure and Hotel Assets
Location: UK
Advised long term client Secure Income REIT plc on the acquisition of two substantial portfolios of leisure and hotel assets at a total cost of £436 million. The deal was completed in line with a challenging timetable, in order to achieve competitive advantage for our client.
$1.1 Billion Portfolio of 64 Skilled Nursing Facilities
Location: US
Represented a healthcare REIT in connection with a joint venture and finance deal with a private equity firm for the acquisition of a $1.1 billion portfolio of 64 skilled nursing facilities.
$500 Million In Financing And Acquisitions For Two REITs
Location: US
Represented two REITs in connection with more than $500 million of secured and unsecured financing and the acquisition of more than $500 million in office and industrial properties, loan portfolios and the origination of mezzanine and senior debt.
$27.5 Million Mortgage Loan On Behalf Of REIT Lender
Location: US
Represented a REIT as a senior lender in connection with a mortgage loan in the amount of $27.5 million relating to office property located in Arizona, Indiana, Illinois and Wisconsin.
$20.4 Million Loan Facility On Behalf Of Reit Lender
Location: US
Represented a REIT as lender in connection with a $20.4 million loan facility that included acquisition financing, project development financing and construction financing.
$20 Million Major Regional Beverage Distribution Center
Location: US
Represented a REIT as owner in connection with the negotiation and documentation of lease, development management agreement, owner-architect and owner-general contractor agreements related to a new $20 million major regional beverage distribution center in Maryland.
One Of The Largest Multifamily REITS in the US
Location: US, Nationwide
Represented one of the largest multifamily REITs in the US in its acquisition, disposition, new construction development and rehabilitation of multifamily residential apartment complexes throughout the US.
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