We advise public and private real estate investment trusts (REITs) in a broad range of matters, including formation, capital markets, mergers and acquisitions, financing, tax structuring, and real estate and joint venture transactions.
Our multidisciplinary team – comprising M&A, equity capital markets, real estate, tax, banking and finance and executive compensation lawyers – leverages practical experience and creativity to help clients solve problems and capitalize on opportunities.
Our REIT clients occupy a wide range of the real estate sector, with portfolios that include gaming, hospitality, entertainment and leisure destinations as well as shopping centers, technology-related assets, office and residential properties and mortgage REITs. We played the lead role in the formation of VICI Properties Inc, the largest experiential net lease REIT in the US and negotiation of its master leases and debt documents, including the US$2.2 billion CMBS financing of Caesars Palace Las Vegas. We have subsequently represented VICI in numerous strategic and capital transactions, including its US$1.4 billion initial public offering (IPO) and billions of dollars of investments across gaming and other experiential assets.
We advise real estate owners and operators, institutional investors and foreign investors regarding the following REIT-related activities:
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REIT formation, including UpREIT and rollup transactions
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IPOs and follow-on offerings
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Other capital-raising and financing transactions, including private placements and Rule 144A offerings of common and preferred stock and high-yield debt
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Tax structuring
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Mergers, acquisitions and other corporate transactions
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Sales, sale-leasebacks, purchases, joint ventures, leasing and myriad other real estate transactions
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OP unit transactions
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Private REIT transactions
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Corporate governance and SEC compliance and reporting
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Shareholder activist campaign-related issues
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Foreign investments in REITs
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Executive compensation and LTIPs
