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International Investors

The Goulston & Storrs International Investors group represents non-US businesses investing in US real estate. We help clients navigate the opportunities and potential concerns of cross-border investments in United States property, including acquisitions and dispositions, distressed debt, preferred equity structures, joint ventures, mortgage and mezzanine loan financing, bankruptcy, work-outs, litigation and tax structuring issues.

Our clients include international banks and insurance companies, private equity funds and other real estate investment companies and groups in Germany, the Netherlands, Israel, Canada, China and other countries.

Recognized for our strength in the real estate industry, Goulston & Storrs attorneys have great depth of experience across all major US property types. For further information about the firm’s International Investors group, please contact our Co-Chairs, Jason Dunn and Zev Gewurz.

Helpful Links For International Investors

U.S. Income Tax Treaties 
Association of Foreign Investors in U.S. Real Estate (AFIRE)
Goulston & Storrs International Advisories  
Goulston & Storrs Tax Law Roundup Blog - International


Representative Clients

  • Allianz
  • DekaBank
  • Elco Landmark Residential
  • HSBC
  • Manulife Financial
  • Mustang Mezzanine Lending Group 
  • Starwood Capital Group
  • The IBUS Company
  • Tricon Capital Group, Inc.
  • UBS

Representative Projects and Transactions

 

Acquisitions, Dispositions and Other Transactions

  • Representation of Elco Landmark Residential, in the recapitalization of Landmark Apartment Trust of America, Inc., a  public non-traded 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 The IBUS Company, a Netherlands based independent real estate company, on the $53.5M acquisition of the Davenport Building in Cambridge, MA, with financing arranged by ING Real Estate.
  • Representation of Mustang Mezzanine Lending Group, an Israeli private equity group, in the acquisition of “busted condo” units in New York City portfolio.
  • Representation of The IBUS Company, a Netherlands based independent real estate company, in the acquisition, financing, and leasing of a 20-property office portfolio located throughout the US.
  • Representation of a British restaurant chain in negotiating architectural and construction contracts for establishing Boston-area restaurant sites.
  • Representation of a United Kingdom-based buyer in acquisition of Fuddruckers restaurant chain.
     

First Mortgage Lending

  • Representation of an international bank in a $105M syndication of a $210M first mortgage loan secured by a mixed-use property in Chicago.
  • Representation of a major global bank in connection with the acquisition of a $67M portion of a $115M construction loan with respect to a large condominium project near Naples, Florida.
  • Representation of a worldwide bank in connection with the acquisition of a $100M portion of a $3.5B Senior Secured Credit Facility made to a major REIT and a $40M portion of a $195M construction loan with respect to a trophy office building in Boston, Massachusetts.
  • Representation of a major international bank in connection with a construction loan to the Whitehall Funds (affiliates of Goldman Sachs) with respect to the Hubert, a high end condominium project in the Tribeca neighborhood of New York City.
     

Joint Ventures

  • Representation of Starwood Capital Group in its joint venture with Gaia Real Estate in the restructuring out of bankruptcy and recapitalization (through an equity infusion and the restructuring of a $503MM CMBS loan) of PJ Finance Company and its 9,500 units of multi-family  housing located in AZ, TX, FL and TN.
  • Representation of a subsidiary of Tricon Capital Group in a $150MM joint venture with Houston-based developer, Johnson Development Company, to acquire, develop and sell Cross Creek Ranch, an award-winning 3,500 acre planned community in Houston, TX.
  • Representation of Allianz in a $110M joint venture investment with respect to a prominent New York office building.
  • Representation of The IBUS Company, a Netherlands based independent real estate company, in numerous joint ventures, including:
    • Pathway Communities- Development of master-planned residential communities in Metropolitan Atlanta, GA.
    • Wood Properties LLC- Development of mixed-use project in Atlanta, GA.
    • John M. Corcoran and Company- Development of multifamily projects in Metropolitan Boston, MA.
    • Townhouse development in Atlanta, GA.
  • Representation in successive joint ventures and investments in the US and internationally for a registered investment advisor with over $1B under management.
  • Representation of an international bank in connection with the acquisition of individual commercial mortgage loans through joint ventures, relating to properties around the US.
  • Representation of Dutch investors in various US joint ventures and wholly-owned real estate.
     

Mezzanine Lending

  • Representation of Eurohypo in connection with $82M of acquisition financing (senior and mezzanine) with respect to an industrial portfolio (27 improved properties and additional developable parcels) in Memphis, Tennessee.
  • Representation of DekaBank in connection with its acquisition of a $30M portion of a $265M mezzanine loan made with respect to the John Hancock Tower, Boston, Massachusetts.
  • Representation of a worldwide bank in connection with its acquisition of senior secured and mezzanine loan positions in loans relating to trophy assets and development/construction projects located throughout the United States.
  • Representation of Tricon Capital Group, a Canadian private equity real estate fund, on numerous participating mezzanine loans for condominium and land developers across the United States.
  • Representation of Mustang Mezzanine Lending Group, an Israeli private equity group, in participation of loan secured by property in the Midwest.


Real Estate Funds—Formation and Transactions

  • Representation in connection with the formation of two funds, a $225M fund and a $600M fund, with US and non US investors to make subordinated loans, primarily for land development and sales, and condominiums in the US.
  • Representation of a fund involving pension plans as investors with Canadian and US entrepreneurs for the acquisition of intermodal transportation terminals throughout North America.
  • Representation of German insurance company in investment in US real estate fund.
  • Representation of a large global real estate funds on federal income tax matters relating to international and domestic real estate acquisitions and dispositions.
     

Workouts and Structuring

  • Representation of an international bank in connection with the workout of a $45M loan secured by the pledge of the partnership interests in the owner of a major office building in New York City.
  • Representation of a major bank participant in connection with the workout of a mortgage loan to a California developer of single-family homes.
  • Representation of a global bank in the making and workout of $140M acquisition financing of a new full-service hotel, consisting of a $90M senior loan and a $50M mezzanine loan.
     

Memberships and Affiliations

Goulston & Storrs is an active member of the Association of Foreign Investors in Real Estate (AFIRE), the pre-eminent global real estate organization headquartered in Washington DC. The firm is also a member of Meritas, a global alliance of independent, high-tier law firms.


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