Acquisitions and Dispositions

Traditional real estate purchase and sale transactions are a significant part of our real estate practice. We advise buyers and sellers throughout the United States and the world in transactions involving sales and acquisitions of major properties of every asset class on both a portfolio and individual property basis. We are experienced in the specialized requirements of transactions involving hotels and resorts, office buildings, shopping centers, hospitals and nursing homes, residential buildings, and air and development rights. We are also experienced in the acquisition of property from public agencies, as well as through bankruptcy court and other distressed-property vehicles.

Representative Transactions

  • Represented Con Edison in the sale of four New York City blocks, described by The New York Times as “the largest tract of undeveloped land remaining in Manhattan”, along the East River just south of the United Nations.
  • Represented Teachers Insurance and Annuity Association of America (TIAA) in the sale of the Mall of America in a $1 billion transaction.
  • Represented GE Asset Management in the $250 million sale of the Doubletree Times Square hotel.
  • Drafted and negotiated the contract under which Volkswagen acquired more than 1,200 acres and a 2 million square foot half-completed building from Chrysler Corporation for Volkswagen’s Westmoreland Assembly Plant in Greensburg, Pennsylvania.
  • Negotiated the acquisition of a major stamping facility in Charleston, West Virginia from American Motors.
  • Represented an Italian company listed on the Italian Stock Exchange in the acquisition of a principle main real estate complex.
  • Represented The Boscolo Group, an Italian leading hotel group, in a number of their transactions in the real estate field.
  • Advised Morgan Stanley on its purchase of Frankfurt’s Trianon tower (one of the largest single transactions in Germany).
  • Advised France’s Foncière Développement Logements on its acquisition of the housing company Immeo with a purchase price of more than €2 billion.
  • Advised Bharati Shipyard Limited to secure the necessary rights to enter onto the Swan Hunter shipyard site to remove the fixed and moveable machinery which was subject to a sale and purchase agreement.
  • Advised LaSalle French Fund II (LaSalle Investment Management) in the acquisition, through an open bid process, of 9 companies and 52 real estate assets from RREEF and Deutsche Bank. Our advice covered corporate, financing and real-estate due diligence, structuring of the acquisition, cash flow analysis and drafting and negotiation of sale/purchase and warranty agreements.
  • Advised Morgan Stanley regarding several acquisitions of high rise office buildings in Germany (purchase price of €100 – 700 million).
  • Advised a French real estate group regarding acquisition and financing of the former Thyssen-Krupp housing company in Germany consisting of housing with more than 40,000 units (€2.2 billion).
  • Advised a French real estate group regarding acquisition and financing of a portfolio of nursing homes in Germany (€100 million).
  • Advised Allianz AG on the acquisition of a shopping center in Spain (€300 million) in a Joint Venture with a US pension fund.
  • Advised Eastern Property Holdings, an investment fund listed on the Swiss stock exchange, in its acquisition of a prominent commercial building in St. Petersburg, Russia. The building has total space of approximately 48,000 square meters, divided into nine office and two retail levels, and is located in the city center.
  • Advised an international investment fund on its acquisition from Credit Suisse First Boston of Gogolevsky Boulevard 11, a prime office building in the center of Moscow, Russia. Gogolevsky 11 has a total area of approximately 10,900 square meters (including 8,000 square meters of net office area).
  • Advised a major US corporation on the acquisition of development rights, compliance with land use and zoning requirements, construction permits and licenses, and negotiated a land lease agreement in connection with construction of a manufacturing facility in the Moscow region of Russia.
  • Represented a leading UAE-based real estate developer on two very large real estate developments in Saudi Arabia, including conducting full legal due diligence on legal issues relating to real estate developments in Saudi Arabia including rules on foreign investments, land acquisition, expropriation issues, buildings laws, tenancy and leasing rules, environmental regime, corporate and commercial issues, labor issues and insurance requirements.
  • Represented a leading UAE-based real estate developer on a large real estate residential development in the Eastern Province, Saudi Arabia. Conducted full legal due diligence on legal issues relating to real estate developments in Saudi Arabia, including rules on foreign investments, land acquisition, expropriation issues, building laws, tenancy and leasing rules, environmental regime, corporate and commercial issues, labor issues and insurance requirements.
  • Advised an Islamic investment bank in acquiring plots of land in Jebel Ali, UAE in order to develop labor housing. Advised on structuring and finalizing the offering documents to solicit new investors.
  • Represented a listed UAE property developer in the acquisition of land in Texas, setting up a SPV to conduct business in the United States and in the development of multi-use towers on the land.
  • Abu Dhabi Investment Authority and LaSalle Investment Management: Advised on the acquisition by forward purchase of an office building in France (€170 million) from Nexity (a leading French commercial real estate developer) and on the acquisition financing from Hypo Real Estate.
  • Acted on the acquisition and financing of former Thyssen-Krupp housing company with more than 40,000 units (€2.2 billion).