Wachtell Lipton's Real Estate Department has a leading practice focused on mergers and acquisitions, private equity, corporate governance, restructurings and joint ventures across the REIT, real estate, hospitality and gaming sectors. We consistently play an active role in major transactions in these sectors, with particular emphasis on large-scale public company M&A and strategic transactions. We have played a leading role in the redevelopment of the World Trade Center and in many of the significant REIT mergers, buyouts and takeovers over the last decade.

Wachtell Lipton's Real Estate Department has a leading practice focused on mergers and acquisitions, private equity, corporate governance, restructurings and joint ventures across the REIT, real estate, hospitality and gaming sectors. We consistently play an active role in major transactions in these sectors, with particular emphasis on large-scale public company M&A and strategic transactions. We have played a leading role in the redevelopment of the World Trade Center and in many of the significant REIT mergers, buyouts and takeovers over the last decade.

Examples of representations include:

  • Regency Centers in its $15.6 billion merger with Equity One
  • Cousins Properties in its merger with Parkway Properties, and the simultaneous spin-off of the Houston-based assets of both companies, creating two publicly-traded REITs with a combined gross asset value of $7 billion
  • Annaly Capital Management in its $1.5 billion acquisition of Hatteras Financial Corp
  • Shareholders in connection with the NorthStar-Colony Capital merger.
  • JAVELIN Mortgage Investment in its acquisition by ARMOUR Residential REIT
  • The Special Committee of Starwood Waypoint Residential Trust in its merger with Colony American Homes and internalization of its manager, to create a combined company that will manage over 30,000 homes and have an aggregate asset value of $7.7 billion
  • Ventas in its spin-off of Care Capital Properties with a portfolio of 355 post-acute/skilled nursing facility properties, and in its $2.6 billion acquisition of American Realty Capital Healthcare Trust
  • Gaming and Leisure Properties in its $5.0 billion proposal to acquire Pinnacle Entertainment’s real estate assets
  • Sears Holdings in its formation of Seritage Growth Properties, a new REIT entering into a $2.5 billion sale-leaseback with Sears for 254 stores and in its strategic joint ventures with Simon, General Growth and Macerich
  • Washington Prime Group in its $4.3 billion acquisition of Glimcher Realty Trust and WP Glimcher in the formation of its $1.625 billion joint venture with O'Connor Capital Partners
  • Simon Property Group in the spin off of its strip center and smaller enclosed malls (53 million square feet) as Washington Prime Group
  • SL Green in connection with various transactions and the $3.1B One Vanderbilt project
  • Gramercy Property Trust in its merger with Chambers Street Properties to create a premier $5.7 billion net lease REIT
  • Cole in its $11.2 billion merger with ARCP to create a $21.5 billion net lease REIT
  • Colony Financial’s special committee of the board in its $740 million acquisition of the real estate and investment management business of Colony Capital.
  • PREIT in its acquisition from Vornado of the redeveloped Springfield Town Center for $465 million, and in its dealings with an activist investor
  • Chatham Lodging Trust's sale of its Cerberus/Chatham joint venture for $1.3 billion and formation of a new joint venture with Northstar to acquire 47 of the joint venture's assets and subsequently Inland's $1.1 billion hotel portfolio
  • Associated Estates in connection with a proxy contest by Land & Buildings
  • Penn National Gaming in its tax free spin-off of Gaming and Leisure Properties, as a REIT
  • CBS in the IPO and exchange offer with its shareholders of its outdoor advertising business, CBS Outdoor Americas, as a REIT
  • MeadWestvaco in its $1.5 billion sale of forestlands and development joint venture with Plum Creek.
  • Sunrise Senior Living in its $1.9 billion sale to Health Care REIT, the sale of the Sunrise management company to KKR, Beecken Petty and Health Care REIT, and various related financing matters and buy-outs of joint venture partners, in transactions involving total investment by Health Care REIT of $4.3 billion
  • Ventas in a strategic transaction resulting in Ventas and Atria management jointly owning Atria Senior Living, including acquisition of various funds previously managed by Lazard
  • Simon Property Group in its €1.5 billion ($2.0 billion) acquisition of a stake in Klépierre from BNP Paribas, and Klépierre in connection with its €7.2 billion merger with Corio.
  • Ventas in its $7.4 billion acquisition of Nationwide Health Properties to create the leading healthcare REIT with a $23 billion enterprise value
  • AMB Property Corporation in its $14 billion merger with ProLogis to create the largest global industrial REIT with combined assets of $46 billion
  • Successful takeover defense of Cole Credit Property Trust III in connection with American Realty Capital’s $9.7 billion unsolicited offer, and representation of the special committee of the board of CCPT III in its acquisition of Cole Holdings Corporation, to create a full-scale investment management firm with over $12 billion of assets under management
  • Public Storage in its successful $5 billion hostile acquisition of the Shurgard Self Storage REIT, its joint venture with New York Common with respect to Shurgard Europe
  • Kimco in its $4 billion acquisition of the Pan Pacific shopping center REIT, its strategic alliance with Valad Property Group of Australia
  • Silverstein Properties in the redevelopment of the World Trade Center, including structuring and negotiating the Master Plan and Master Development Agreement for the site
  • Morgan Stanley and Morgan Stanley funds in a number of significant hotel and gaming restructurings and dispositions, and previously in its $1.25 billion joint acquisition with Onex of the Town & Country apartment REIT
  • The $1.5 billion sale of the Innkeepers REIT to a private equity firm, and the post-bankruptcy $1.3 billion re-acquisition of many of the assets by Chatham and Cerberus
  • Istithmar/Dubai World in connection with the restructuring of various Atlantis resorts and other Kerzner assets
  • Centerbridge and other parties in connection with the acquisition of Centro’s US assets and Australian restructuring
  • Sears in its sale of various assets to General Growth and other real estate transactions
  • Taubman in its successful takeover defense
  • Tishman Speyer and Lehman Brothers in their $22 billion acquisition of the Archstone apartment REIT and the subsequent restructuring of Archstone
  • Starwood Capital along with Vornado and Walton Street in their $39 billion bid for Equity Office Properties and other transactions
  • Mohegan Sun in a $600 million joint venture to redevelop the Concord Resort in upstate New York
  • The Philadelphia 76ers in the restructuring of its arena lease in connection with the sale of the franchise
  • Morgans Hotel Group in its $1.5 billion acquisition and financing of the Hard Rock Hotel/Las Vegas, and in a joint venture with Boyd Gaming
  • Apollo/AREA in the structuring and formation of private equity real estate opportunity funds
  • And numerous other M&A transactions including the Reckson office REIT’s $6.2 billion sale to SL Green; American Financial Realty Trust’s $3.4 billion sale to Gramercy Capital; the Mills shopping mall REIT’s $8 billion sale to Simon and Farallon; Lend Lease’s sale of its U.S. real estate businesses; and Hometown’s $2.2 billion acquisition of the Chateau manufactured home REIT

Our department and its partners are consistently ranked as among the leading real estate and REIT M&A advisors in the United States and in cross-border transactions.