Real Estate Capital Markets/Equity
The Goulston & Storrs Real Estate Capital Markets/Equity group represents regional, national and international investors, owners and developers. We help our clients deploy their capital and structure and implement equity financing vehicles that suit their particular needs, as impacted by the current financial climate.
Recognized for the depth and diversity of our experience in the real estate industry, our attorneys work on a wide variety of asset classes. Across all transactions, we understand the critical considerations regarding equity and debt financing, joint ventures, workouts and exit strategies that impact capital market transactions. The Goulston & Storrs Real Estate Capital Markets/Equity group is a collaboration of corporate, real estate, tax, ERISA and bankruptcy attorneys who work together to develop creative solutions to achieve our clients objectives.
For further information about the firm’s Real Estate Capital Markets/Equity group, please contact the group co-chairs, Janice Gross and Yaacov Gross.
We regularly counsel our clients with respect to Real Estate Capital Markets/Equity matters including:
- Fund formations (including REITs and REOCs)
- Single asset joint ventures
- Programmatic joint ventures
- Mergers and acquisitions
- Public securities offerings
- Private placements/offerings
- REIT formation, structuring and organization, including roll-up transactions and spin-offs
- AION Partners
- Avalon Bay Communities
- Beacon Capital Partners
- Boston Properties
- CBL & Associates Properties, Inc.
- Colony Realty Partners
- The Community Development Trust
- Eaton Vance
- Federal Realty Investment Trust
- Forest City Enterprises, Inc.
- Hart Advisors
- IBUS Company
- Kennedy Wilson
- Madison International Realty
- Mayfield Gentry Real Estate Advisors
- Pyramid Advisors
- Stillwater Capital Partners, Inc.
- Tricon Capital Group
- W/S Development
Representative Projects and Transactions
Acquisition and Dispositions
- Representation of Beacon Capital Partners in its acquisitions, dispositions and related transactions, and joint ventures, including the $1.71B acquisition of the US assets of Charter Hall Office REIT. The US portfolio includes 14 assets located in California, Colorado, Florida, Georgia, Indiana, Massachusetts, New Jersey and Washington DC.
- Representation of CrossHarbor Capital Partners LLC on the completion of its debtor in possession financing, equity financing and landmark acquisition of the equity interests in the reorganized Yellowstone Club in Montana. The acquisition was one of the largest real estate investments in the country in 2009.
- Representation of Eaton Vance in all aspects of its real estate portfolio, including in connection with the $1.6B acquisition of Keystone Property Trust by a partnership with ProLogis, the largest public US-based global provider of distribution facilities and services.
- Representation of Elco Landmark Residential, in the recapitalization of Landmark Apartment Trust of America, Inc., a non-public REIT, through a $535MM contribution of properties and cash involving 37 apartment communities across 17 US states, with its partners Ontario Pension Trust and DeBartolo Development.
- Representation of Stillwater Investment Management Corporation and Belpointe Capital LLC in connection with a joint venture with respect to the acquisition of 3 city blocks in Norwalk, Connecticut. These properties will be redeveloped with multi-family and retail projects.
- Representation of Kennedy Wilson on its investment with a major private equity fund in the $68M purchase of a 492-unit multifamily community in Petaluma, California.
- Representation of developers of the mixed-use 5-star Mandarin Oriental Hotel and luxury residential and retail project in Boston in separate $37M and $45M equity investments during development and construction of the project.
- Representation of Mayfield Gentry Real Estate Advisors in connection with fund raising efforts, including a new "parallel" fund and the formation of a private REIT.
- Representation of Federal Realty Investment Trust in connection with the formation of a joint venture and acquisition of a controlling interest in Montrose Crossing, a 357,000 square foot existing shopping center with an adjacent developable parcel in Maryland. The $127M purchase also involved an $80M loan from Allianz Life Insurance Company of North America.
- Representation of CrossHarbor Capital Partners in connection with multiple separate joint venture arrangements and the acquisition of an 80% interest in 3 shopping centers in Pennsylvania.
- Representation of CBL & Associates Properties, Inc. in the formation of a $1B joint venture with TIAA-CREF to invest in market-dominant shopping malls nationally.
- Representation of AION Partners LLC in the approximately $100M joint venture acquisition with the Carlyle Group of an apartment property in Virginia.
- Representation of Samuels & Associates in connection with a joint venture with Legacy Capital Partners for the acquisition and redevelopment of the historic Hingham Shipyard in Hingham, Massachusetts into a 400,000 square foot mixed-use, transit-oriented development including retail, residential and office uses.
- Representation of Federal Realty Investment Trust in connection with multiple separate joint venture arrangements and the acquisition of a controlling interest in Plaza El Segundo in California. In connection with the acquisition, Goulston & Storrs provided counsel regarding the securitized lender’s consent to the equity transfer and various modifications to an existing $175M loan. This 381,000 sq.ft mixed-use retail and restaurant property is adjacent to an 8.1 acre developable land parcel, which was also acquired in the transaction. The project also included Brownfields redevelopment and significant tax compliance issues.