Representative Experience

  • Represented Mission West Properties in its $1.3 billion asset and real property sale to TPG Capital Inc.
  • Represented Consolidated-Tomoka Land Co. in its proposed conversion to a REIT.
  • Acted for Crescent Real Estate Equities Co. in the negotiation of an agreement to sell Crescent to Morgan Stanley Real Estate for $6.5 billion.

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  • Represented Alpine Income Property Trust, Inc. in its $142.5 million IPO.
  • Represented Saul Centers, Inc. in its $100 million stock offering (4,000,000 Depositary Shares, each representing 1/100th of a Share of 6.000 percent Series E Cumulative Redeemable Preferred Stock).
  • Represented National Retail Properties (formerly Commercial Net Lease Realty) in its $60 million merger with National Properties Corporation.
  • Advised and assisted Goff Capital in its formation of a joint venture with Barclays Capital to acquire Crescent Real Estate Equities from Morgan Stanley.
  • Advised Trustreet Properties in its acquisition by General Electronic Capital Solutions, General Electric’s business-to-business leasing, financing and asset management arm, for $2.7 billion in cash and assumed debt.
  • Represented CNL Restaurant Properties in its $1.4 billion merger with U.S. Restaurant Properties and 18 CNL Income Funds to create Trustreet Properties.
  • Advised and assisted a client in raising $800 million in financing for a major REIT in multiple transactions.
  • Represented an investment bank in the origination of $3.5 billion of mortgage loans provided in connection with the acquisition of retail REITs.
  • Represented an investment bank in the origination of a $1 billion bridge loan to a public REIT and the owner of warehouse properties.
  • Acted for a real estate investor in the sale of a 49 percent interest in 1211 Avenue of the Americas, New York, New York — and the formation of a private REIT to hold title to the building.
  • Represented National Retail Properties in underwritten public offerings of more than $900 million of common stock, $600 million of preferred stock, $370 million of convertible notes and $2.0 billion of senior unsecured notes since 2006.
  • Represented Federal Realty Investment Trust in the underwritten public offerings of more than $550 million of common stock and $2.6 billion of senior unsecured notes since 2016.
  • Advised NAREIT, the world’s largest association of REITs and publicly traded real estate companies, on regulation and policies affecting its public non-listed REIT members.

Practice Area Highlights

  • Pillsbury REITs lawyers have been recognized by The Legal 500 U.S. and Chambers USA.
  • Pillsbury consistently ranks as one of the top U.S. firms for REIT offerings.