David L. Perechocky

Notable transactions include:

Real Estate & REITs

• Safehold Inc.’s Special Committee of the Board of Directors in $6.4 billion strategic merger with its controlling shareholder iStar Inc. and related spinoff of iStar assets into a new publicly traded company
• Starwood Capital Group on numerous matters, including in its:
  
  • $6 billion joint acquisition, together with Blackstone Real Estate Partners, of Extended Stay America and its related 50/50 joint venture with Blackstone
  • $800 million private placement investment in BowX Acquisition Corp.'s $9 billion business combination with WeWork
  • $155 million private placement investment in Fifth Wall Acquisition Corp. I’s $2.2 billion business combination with SmartRent
  • proposal to privatize ESR Group Limited (ESR), in a consortium with Sixth Street, SSW Partners, QIA, Warburg Pincus and the Founders, from the Hong Kong Stock Exchange at a $7.1 billion equity value
• GLP:
  
  • $3.7 billion sale of GCP International to Ares Management Corporation
  • $18.7 billion sale of its U.S. logistics business to Blackstone — the largest private real estate transaction in history (recognized in the Financial Times U.S. Innovative Lawyers report)
• Launch and ongoing representation of non-traded REITs:
  
  • Fortress Credit Realty Income Trust (FCR), a private non-traded mortgage REIT sponsored by Fortress Investment Group
  • Fortress Net Lease REIT (FNLR), a private non-traded net lease REIT sponsored by Fortress Investment Group
  • Bridge Investment Group Industrial Real Estate Income Trust (BIGi REIT), a private non-traded industrial net lease REIT sponsored by Bridge Investment Group
• Private equity firm in the recapitalization of its 13-asset mixed-use real estate portfolio and the related formation of a continuation fund
• U.S. private equity fund in the formation of a programmatic joint venture to acquire and develop diversified commercial real estate projects throughout the U.S., U.K. and Europe
• StorageMart in its acquisition of Manhattan Mini Storage, including the entirety of the company’s 18 self-storage real estate locations throughout Manhattan
• Fortress Investment Group on its $80 million preferred equity investment and $15 million mezzanine loan with Broad Street Realty, Inc.
• Taubman Centers:
  
  • Special Committee of the Board of Directors in Taubman’s $9.8 billion merger and related joint venture with Simon Property Group
  • in connection with shareholder activism by Land and Buildings
• Monarch Alternative Capital:
  
  • alongside RPT Realty, GIC and Zimmer Partners, in connection with the formation of a partially-seeded programmatic $1.2 billion net lease retail real estate investment platform sponsored by RPT Realty
  • alongside Conversant Capital and other strategic investors, in a $750 million equity commitment in Quinn Residences to develop single-family rental communities in the Southeastern United States
• CBL & Associates Properties in its agreement with Exeter Capital regarding the composition of the CBL board of directors
• Blackstone in its investment in Rockpoint Group
• U.S. private equity fund in connection with its sale of a 49% interest in a $1.87 billion portfolio of multifamily properties
• Founders in their formation of Constellation Real Estate Partners, a platform to acquire and develop logistics properties throughout the Southeastern and Southwestern United States
• Ladder Capital in connection with the review and rejection of an unsolicited $1.7 billion acquisition proposal from Related Fund Management
• Scalar, LLC, as financial advisor to Cottonwood Communities, a non-traded public REIT, in its $2.5 billion stock-for-stock merger with Cottonwood Multifamily Opportunity Fund

Other Industries

• Starwood Capital Group in the spin-out of its energy platform, Lotus Infrastructure
• JAWS Estates Capital, the family office of Barry Sternlicht:
  • JAWS Spitfire Acquisition Corporation in its $1.6 billion business combination with Velo3D
  • JAWS Acquisition Corp. in its $4.4 billion business combination with Cano Health
• Lee Enterprises:
  • successful defense of a hostile takeover bid and attempted proxy contest by Alden Global Capital
  • in response to the "withhold-the-vote" campaign by Cannell Capital
• Investindustrial Acquisition Corp. in its $3.2 billion business combination with Ermenegildo Zegna Group
• Blackstone in its combined $800 million investment, along with Viking Global Investors, in the combination of APi Group Corp. and Chubb Fire & Security Business
• Wilton Re in its $400 million acquisition of Allstate Life Insurance Company of New York from Allstate
• Intelsat S.A. and certain of its affiliates in connection with their Chapter 11 cases involving approximately $14.7 billion in funded debt (Restructuring Deal of the Year (Over $10B) ─ The M&A Advisor International M&A Awards, 2023)
• BBAM LP, as manager and servicer of Fly Leasing Limited, in FLY’s $2.36 billion sale to Carlyle Aviation Partners
• Nikola Corporation in response to an activist short attack by Hindenburg Research
• Consortium consisting of Bain, Carlyle, Centerbridge and Gallatin Point in their agreement to exchange their existing preferred shares in Sirius International Insurance Group (NASDAQ: SG) for a combination of cash and newly issued preferred shares in Third Point Reinsurance (NYSE: TPRE) valued at $260 million upon the completion of the merger transaction between Sirius Group and Third Point Re
• Special Committee of Board of Directors of FGL Holdings in its $2.7 billion acquisition by Fidelity National Financial
• Amcor Ltd. in its $6.8 billion acquisition of Bemis Co. (International Deal of the Year — 2020 Australasian Law Awards)
• Rhône Group in its strategic partnership with Eurazeo (EPA:RF) for a 30% interest in Rhône Group in exchange for $270 million in cash and Eurazeo stock
• Spectrum Brands in its $2 billion carve-out sale of its global consumer battery business to Energizer
• Crescent Capital BDC, Inc. in its acquisition of Alcentra Capital Corporation
• Blackstone in its investment in New Mountain Capital
• Private agriculture company in connection with an out-of-court corporate restructuring, including a convertible preferred equity investment and unsecured debt investment from a consortium of investors and a concurrent refinancing of its existing first-lien credit facility
• AEO Inc. in its strategic partnership and Series A preferred equity investment in Dormify
• Kinderhook Industries in its acquisition of Intergulf Corporation

Notable transactions prior to joining Kirkland, include:

• Paramount Group in its $2.6 billion IPO — the largest IPO in the history of the REIT industry
• Lennar in its $9.3 billion acquisition of CalAtlantic, creating the largest U.S. homebuilder
• Monogram Residential Trust in its $4.4 billion going-private sale to a private equity fund sponsored by Greystar Real Estate Partners
• Empire State Realty Trust (ESRT) in the acquisition by the Qatar Investment Authority of a 9.9% fully diluted interest in ESRT for $622 million
• Multiple non-traded public REIT IPOs for Fundrise, Cottonwood and Tryperion Partners under Regulation A
• MAA (Mid-America Apartment Communities) in its $17 billion business combination with Post Properties, creating the largest multifamily REIT by number of apartments
• Medical Properties Trust in financing and related investments relating to its $1.25 billion acquisition of a portfolio of nine Massachusetts hospitals operated by Steward Health Care, which is majority-owned by affiliates of Cerberus Capital Management. (M&A Advisor Healthcare and Life Sciences Deal of the Year (over $100MM))
• EPR Properties in its $830 million joint acquisition with affiliates of Och-Ziff Real Estate of a portfolio of amusement parks, waterparks and ski resorts from CNL Lifestyle Properties
• Equity One, Inc. in its "at-the-market" equity offering of 8.5 million shares and related private placement program with Gazit-Globe, a publicly-traded real estate company based in Israel
• CreXus Investment Corp. in its $1.0 billion acquisition by Annaly Capital Management, Inc.
• MAA (Mid-America Apartment Communities) in its $8.6 billion merger with Colonial Properties Trust
• Brookfield Office Properties in forming a fund to acquire MPG Office Trust
• Cole Credit Property Trust II, a non-traded public REIT, in its $7.1 billion acquisition by Spirit Realty Capital, Inc.

Goodwin Procter LLP, Associate — REITs and Real Estate M&A, 2012–2017