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When businesses need counsel at the intersection of real estate and the public markets, they turn to Goodwin, a proven leader and innovator. From the dawn of the REIT market in the 1960s through the modern REIT era that began in the early 1990s, our lawyers are the industry vanguard – helping to draft the Real Estate Investment Trust Act of 1960, pioneering the creation of the first public UPREIT structure, and successfully representing issuers in the largest and most complex REIT IPOs to date. And with the breakneck pace of technology disrupting industries around the world, we partner with our clients and embrace the promise and potential of innovation to make a lasting impact.
Goodwin has been consistently recognized as a leader serving the public REIT market, including in connection with alternative uses of the REIT vehicle, REIT conversions and innovative compensation structures like the modern LTIP partnership unit. As REITs have matured into a mainstream investment with expanded reach around the globe, the industry’s top players continue to rely on our expertise and dedication. And as REITs seek to take advantage of regulatory reforms that broaden their access to capital, such as new exemptions from registration or innovative equity securities, our lawyers are always first on the scene.
Real Estate M&A. We guide clients through public and private M&A transactions of all types in the real estate sector, including large-scale strategic public company M&A in all asset classes, buy-side and sell-side leveraged buyouts, management-led buyouts, strategic large-scale portfolio acquisitions, and special committee representation. Clients rely on the expertise we have developed over decades of structuring these complicated transactions and navigating the wide range of issues that arise. We have been involved on the buy or sell side in six out of the seven largest multifamily strategic public REIT M&A transactions in the U.S. to date.
IPOs and Roll-Up Transactions. Transitioning to the public markets is never simple for real estate companies and often requires the combination of multiple private investment vehicles in a complex roll-up transaction to form a REIT that can be introduced to the equity capital markets. Goodwin seamlessly blends the securities, M&A, real estate and tax capabilities necessary for these transactions to help clients transition from private to public. We have represented REITs across all asset classes in their IPOs, including Paramount Group, Inc. in the largest REIT IPO in history, totaling $2.6 billion in gross proceeds.
Public REITs. We represent public REITs through a full range of transactions and material events, including raising capital through the debt and equity capital markets, listing on national securities exchanges, advising on corporate governance and executive compensation matters, and counseling on disclosure and regulatory compliance. Our REIT clients are among the largest and most sophisticated in the industry, and we regularly provide counsel on the most cutting-edge issues confronting public REITs.
REIT Conversions, Spin-Offs and Alternative Investment Structures. Established public companies often seek to unlock value through a REIT conversion, a spin-off of one or more lines of business, and/or a structure that leverages their platform using private capital (institutional or retail). We assist our clients in structuring and executing these technically complex transactions, which often require a cross-disciplinary approach.
Strategic Portfolio Transactions. REITs often grow and/or recycle capital through strategic portfolio transactions. We leverage the breadth and depth of our expertise around real estate as an asset class to assist REITs with tax-structured OP unit exchanges; joint ventures with sovereign wealth funds, pension plans, endowments, and other capital allocators globally; and sophisticated portfolio acquisitions.
Rising interest rates? Falling tenant demand? “High-yield” or “value-added”? Across the global real estate capital markets, how you position yourself with respect to risk and return is critical for maximizing your investments. Whether assessing demographic trends and capital flows or anticipating geographic shifts, Goodwin’s Real Estate Industry group offers deep market insight and a practical approach to help you make the most of every investment decision – from private fund formation and all types of real estate transactions to REIT and real estate M&A, we excel at what we do.
Real estate development law requires technical expertise and dedication. Building a successful project starts with good working partnerships and Goodwin is committed to guiding our clients from concept to completion of every project. We counsel developers, investors, corporate owners and managers, nonprofit institutions and investors in large-scale projects of all kinds.
The world’s leading hospitality and leisure companies face an evolving market and increased competition which demand exceptional guidance and legal counsel. And with the rapidly accelerating pace of technology disrupting industries around the world, we partner closely with clients to embrace the promise and potential of innovation to make a lasting impact. Goodwin is dedicated to providing best-in-class service to the hospitality and leisure industry, advising both hotel operators, including a number of the major luxury brands and hotel owners and investors on a wide range of matters. We have worked with many of the hospitality industry’s marquee names on some of the largest and most complex deals over the past decade.
Our lawyers across the globe have handled hospitality transactions and related legal issues in more than 50 countries, including asset and portfolio acquisitions and dispositions, hospitality company corporate IPOs and M&A transactions, complex structuring relating to REITs and investments by tax-exempt entities, formation of investment funds targeting hotels, financings of all types, development and operational joint ventures project development, including acquisitions, joint ventures, financings, design and construction, hotel management and franchise agreements, retail leasing, food and beverage operations agreements, privacy and cybersecurity, and employment, including union matters. We understand how to navigate cross-border and multi-jurisdictional transactions and how to overcome the challenges presented by diverse legal systems, cultures, conventions, and languages.
Institutional investors, owners and developers in real estate joint venture transactions face a raft of complex issues and market challenges as they invest across the United States and Europe. Clients count on Goodwin’s comprehensive understanding of the unique relationships and matters that arise during the lifecycle of real estate joint ventures, from formation concerns to exit rights. And as rapidly evolving technology disrupts industries around the world, we partner with our clients and embrace the promise and potential of innovation to make a lasting impact.
Rising interest rates? Falling tenant demand? “High-yield” or “value-added”? Across the global real estate capital markets, how you position yourself with respect to risk and return is critical for maximizing your investments. Whether assessing demographic trends and capital flows or anticipating geographic shifts, Goodwin’s Real Estate Industry group offers deep market insight and a practical approach to help you make the most of every investment decision – from private fund formation and all types of real estate transactions to REIT and real estate M&A, we excel at what we do.
Real estate development law requires technical expertise and dedication. Building a successful project starts with good working partnerships and Goodwin is committed to guiding our clients from concept to completion of every project. We counsel developers, investors, corporate owners and managers, nonprofit institutions and investors in large-scale projects of all kinds.
The world’s leading hospitality and leisure companies face an evolving market and increased competition which demand exceptional guidance and legal counsel. And with the rapidly accelerating pace of technology disrupting industries around the world, we partner closely with clients to embrace the promise and potential of innovation to make a lasting impact. Goodwin is dedicated to providing best-in-class service to the hospitality and leisure industry, advising both hotel operators, including a number of the major luxury brands and hotel owners and investors on a wide range of matters. We have worked with many of the hospitality industry’s marquee names on some of the largest and most complex deals over the past decade.
Our lawyers across the globe have handled hospitality transactions and related legal issues in more than 50 countries, including asset and portfolio acquisitions and dispositions, hospitality company corporate IPOs and M&A transactions, complex structuring relating to REITs and investments by tax-exempt entities, formation of investment funds targeting hotels, financings of all types, development and operational joint ventures project development, including acquisitions, joint ventures, financings, design and construction, hotel management and franchise agreements, retail leasing, food and beverage operations agreements, privacy and cybersecurity, and employment, including union matters. We understand how to navigate cross-border and multi-jurisdictional transactions and how to overcome the challenges presented by diverse legal systems, cultures, conventions, and languages.
Institutional investors, owners and developers in real estate joint venture transactions face a raft of complex issues and market challenges as they invest across the United States and Europe. Clients count on Goodwin’s comprehensive understanding of the unique relationships and matters that arise during the lifecycle of real estate joint ventures, from formation concerns to exit rights. And as rapidly evolving technology disrupts industries around the world, we partner with our clients and embrace the promise and potential of innovation to make a lasting impact.