Kimberly R. Lucas
Overview
Kimberly R. Lucas is a real estate partner in the Washington, D.C., office of Kirkland & Ellis. She advises clients on all aspects of commercial real estate in both equity and debt transactions.
Kimberly leverages her comprehensive understanding of market norms and extensive experience across asset classes to guide global private equity funds and their portfolio companies, investment funds, real estate investment trusts (REITs) and institutional lenders on:
- Joint ventures, preferred equity structures and equity investments
- Asset and entity-level acquisitions and dispositions across all asset classes
- Single-asset and portfolio mortgage and mezzanine loan originations and restructurings, including syndicated lending transactions and commercial mortgage-backed securities
- Development projects
- Construction financings and sale leaseback transactions secured by both single assets and multiple property portfolios
- Workouts, restructurings, and distressed and performing loan sales
She takes a pragmatic approach to helping clients navigate their most sophisticated transactions and devises creative solutions to help them achieve their commercial objectives in unprecedented situations.
Experience
Representative Matters
Sincejoining Kirkland, Kimberly has been involved in the following matters:
- CBRE Investment Management, on behalf of its funds, through a joint venture with MCB Real Estate, on the $247 million acquisition of a seven-property grocery-anchored shopping center portfolio exceeding 1.1 million square feet across sites in Hawaii, Louisiana, Minnesota, North Carolina and Texas
- CBRE Investment Management, on behalf of its funds, in connection with $153 million intercompany bridge loan financing related to the acquisition of a seven-property portfolio
- Ares Management, on behalf of Ares U.S. Real Estate Opportunity Fund IV, in connection with the acquisition of a real estate investment trust (REIT) from EQT Exeter, which owns a $650 million portfolio of 36 industrial and logistics center assets located in 13 states. The acquisition, which closed on March 26, 2026, was financed in part with a $500 million single-asset single-borrower loan originated by Wells Fargo, Bank of America and Barclays
Prior to joining Kirkland, Kimberly was involved in the following matters:
- Ares Management Corporation in:
- a joint venture with Timberline Real Estate Ventures to acquire and manage student housing assets across the U.S., securing an initial $250 million capital commitment and restructuring Timberline’s portfolio to grant an affiliate of Ares a 10% equity interest in Timberline’s operating platform
- a joint venture with RXR, a leading real estate owner, operator and developer in the New York Tri-State area, to form a $1 billion fund targeting debt and equity investments in distressed commercial properties primarily located in New York City
- Apollo in the restructuring of an OpCo/PropCo financing secured by multiple hospitals located in the state of Massachusetts, in connection with a bankruptcy filing by the Opco, the transfer in lieu for multiple assets and certain asset sales
- Brookfield in connection with the purchase of two loans, foreclosure on 75 multifamily assets located in San Francisco, California, the formation of a joint venture and related financing
- Brookfield’s private real estate fund on the acquisition of Divvy Homes’ property portfolio and platform for a total consideration of approximately $1 billion
- Silver Lake on a joint venture with Commonwealth Asset Management to assemble a global portfolio of strategically located powered land
- A foreign investment group in a joint venture with a U.S. real estate developer to acquire the retail unit of a mixed-use luxury condominium to be constructed at 432 Park Avenue in Manhattan; the transaction involved a secured forward purchase contract structure that required payment of the entire purchase price at the signing of the contract, which was secured in part by an equity pledge from the seller
- An investment firm in the forward purchase of a site for the construction of a five-star luxury hotel and condominium in Boston, Massachusetts
- An institutional lender in multiple, highly structured loans secured by non-performing loans, performing loans and portfolios of fee assets
- A foreign investor in connection with the complex development joint venture, acquisition, pre-development and EB-5 financing of One Wall Street, a landmarked office building located in downtown New York City
- A confidential party in a forward purchase (done as part of a joint venture with 99 Church Investors) of a high-end luxury mixed-use property located in downtown New York City
Prior Experience
Pro Bono
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Credentials
Admissions & Qualifications
- 2021District of Columbia
- 2012New York
Education
- Harvard Law Schoolcum laude
- Swarthmore College