Real Estate Equity & Debt Investment Structures

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Our clients are among the most sophisticated investors in the industry and rely on us to structure their real estate investments and ensure tax, regulatory and administrative compliance and efficiency.

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Overview

We regularly represent leading investment firms, private equity firms, pension trusts, operating companies, private investors, endowments, foundations, education and health care institutions and other entities in evaluating, negotiating and structuring the acquisition and disposition of performing, distressed and other real estate investments throughout the capital stack. 

We have a wealth of experience representing investors and sponsors involving a wide variety of transaction structures across the globe.  Our team provides market leading advice in connection with structuring and negotiating vehicles to raise and deploy capital, including joint ventures, investment funds, co-investments, permanent and construction mortgages, participating loan investments, warehouse loans, mezzanine loans, preferred equity, convertible equity interests, trusts (including grantor trusts), private REITs, leveraged corporations, sale-leasebacks, ground leases, synthetic and leveraged leases, repurchase facilities, and other real estate-based arrangements. 

We regularly advise buyers, sellers and other participants in connection with the purchase and sale of real estate, real estate loans and other real estate related assets and investments across the full range of transaction variables. Our service and strategy covers the type of asset being acquired, the transaction structure (including bank auctions, private sales and 363 and other bankruptcy sales), cross-border considerations, inter-creditor and bankruptcy issues.

Experience

Our recent matters include representation of:

  • A pension fund asset manager in connection with a joint venture with a gross asset value in excess of $1.5B to acquire market dominant malls throughout the United States.
  • Program joint ventures for a tax exempt institutional investor with committed capital of over $1.5B to acquire and develop student housing, senior housing, multi-family, retail, hotel, industrial  and net–leased assets in the United States.
  • A private equity fund in connection with its investment in a $1.6B debt stack for the restructuring of a 7‐property portfolio consisting of hotels in California and Hawaii, including the restructuring of multiple layers of debt, the forbearance of the senior loan, and negotiating new intercreditor arrangements.
  • A global investment firm in organizing a number of distressed credit and distressed real estate related funds, developing the forms of forms of transaction documents to be used in connection with the acquisition and disposition of anticipated purchases and sales of various performing and non-performing loan portfolios and other debt-related instruments to third parties and the completion and assisting with the closing of fund transaction.
  • An international financial conglomerate in connection with its $415M co-investment in a $1.2B, 90-story luxury condominium development on Park Avenue, NY, including the creation and use of onshore and offshore investment vehicles.
  • A hedge fund’s acquisition of multifamily housing units with an aggregate value in excess of $1.2B, via a combination of acquiring distressed mezzanine loans, exercising purchase options under various tranches of related securitized mortgage pools and then realizing on the fee interests via foreclosures and deeds in lieu.
  • The real estate fund of a global financial services firm, in several transactions, including the first investment made by its latest fund through a venture capital transaction to provide equity to fund opportunistic investment into secondary UK retail and leisure assets; and a proposed £180M preferred equity investment into a Canary Wharf Group vehicle (a JPUT) to finance a £250M equity commitment under a 50/50 JV to develop the Shell Centre, a £1bn project  located near the Houses of Parliament in central London.
  • The distressed real estate investment arm of one of the world’s largest private equity investment firms, in structuring and negotiating over $2B of acquisitions of individual and pooled non-performing loans and foreclosed commercial property.
  • A hedge fund’s acquisition of the controlling interest in a 650k sf class A office building, by purchasing a mezzanine loan, negotiating a consensual transfer of the pledged equity and simultaneously negotiating with a special servicer to amend the building’s securitized mortgage loan.
  • A tax exempt institutional investor in the acquisition of more than 25,000 acres of US farmland and vineyards in tax advantaged structures.