Equity Group Investments in its cooperation with activist investors Corvex Management and Related Fund Management to replace the board of directors of Commonwealth REIT (now known as Equity Commonwealth). Dan assisted the client in reorganizing its capital structure and internalizing the management of its externally managed REIT for a public company that owned in excess of 45 million square feet of office space. Dan also represented Equity Commonwealth on a $1.15 billion credit agreement.
Leading publicly traded REIT in its definitive agreement to acquire substantially all of the life science and medical real estate assets of Wexford Science & Technology, LLC, from affiliates of Blackstone Real Estate Partners VIII L.P. for $1.5 billion in cash. The acquisition includes 25 class-A assets that are leased by leading universities, academic medical centers and research companies. The company is also acquiring nine development sites principally contiguous to existing assets. As part of the acquisition, Kirkland’s client will enter into a long-term management and pipeline agreement with Wexford, whereby the client will have exclusive rights to jointly develop future projects with Wexford, and Wexford will continue to manage the portfolio.
Morgan Stanley Real Estate Investing in structuring and selling its junior mezzanine loan secured by an indirect membership interest in owner of John Hancock Center in Chicago, Illinois.
LaSalle Investment Management in the recapitalization of a New York City retail portfolio valued in excess of $1 billion.
Leading investment management firm in its $540 million acquisition of the Times Square DoubleTree hotel from Sunstone Hotel Investors Inc. as the first phase of the client’s $2 billion mixed-use redevelopment project. Kirkland will continue to represent the client on the future phases of redevelopment.
Caesars Entertainment Operating Co. Inc. (“CEOC”) in real estate matters in connection with its Chapter 11 restructuring. CEOC, a majority owned subsidiary of Caesars Entertainment Corporation, provides casino entertainment services and owns, operates or manages 44 gaming and resort properties in 13 states and five countries primarily under the Caesars, Harrah’s and Horseshoe brand names. CEOC and its debtor subsidiaries had more than $18.4 billion in funded debt obligations as of the commencement of its Chapter 11 cases.
KKR Real Estate Fund in its acquisition, joint venture and financing of an historic office tower in Chicago, Illinois.
Aeroterm US in its acquisition of more than 120 airport logistics assets located in the United States and Canada for approximately $900 million and in the formation of its open-end fund for add-on acquisitions and developments.
Equity LifeStyle Properties, Inc. in its acquisition of a 75 manufactured home community portfolio valued in excess of $1.5 billion together with over $800 million of financing and preferred equity transactions.
Leading healthcare REIT in connection with its programmatic joint venture with a state pension fund for the development of over $1 billion in senior housing facilities and medical office buildings.
Leading private equity firm in obtaining a $300 million mortgage loan from an investment bank encumbering the fee interest in the Canyons Ski Resort in Park City, Utah.
Leading healthcare REIT in connection with its agreement to acquire privately owned Ardent Health Services for $1.75 billion in cash. Ardent is one of the 10 largest for-profit hospital companies in the United States.
