Daniel J. Perlman, P.C. - Partner

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Daniel J. Perlman, P.C.

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Phone: +1 312-862-6090
Fax: +1 312-862-2200
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Professional Profile

Dan Perlman is a partner in the real estate group in the Chicago office of Kirkland & Ellis LLP. Dan has been ranked in Chambers USA, America’s Leading Lawyers for Business since 2005. In the 2015 edition, clients said that Dan is “a technically great lawyer and he thinks like a businessperson,” and in the 2017 edition, clients praised him for his “extremely deep knowledge.” In 2015, he was among a group of 10 attorneys nationwide recognized as Law 360’s MVPs in the real estate field. He has been recognized by The Legal 500 U.S. for Real Estate law every year since 2012, with commenters noting that he is an “excellent,” “very responsive” and “very talented” attorney. Dan was also recognized by Who’s Who Legal - The International Who’s Who of Business Lawyers for Real Estate in its 2015 edition.

Dan has extensive experience in representing private equity investors on real estate fund formations and equity and debt investments directly and indirectly through joint ventures with operating members. His primary concentrations include complex investments in distressed capital stacks, loan workouts, and reorganizations.

Dan also represents some of the industry’s leading REITs in their respective market sectors, including Equity Lifestyle Properties, General Growth Properties, Equity Commonwealth and Jones Lang LaSalle Income Property Trust, among others. His representation includes multi-billion dollar portfolio acquisitions and joint ventures, property-level secured financings, corporate-level unsecured financings, internalizing management functions, and workouts.

Dan has been lead counsel on some of the nation’s highest profile development and re-development transactions. Dan also represents borrowers and lenders on securitized, conventional, and mezzanine financings—specializing in special situation financings.

Representative Matters

  • 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.

  • GGP in connection with its $400 million acquisition and joint venture with a Canadian pension fund involving two regional malls.

  • 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.

Memberships & Affiliations

Board Member, American Cancer Society Greater Chicago Downtown Board

Member, Political Science Advisory Board for the Department of Political Science at the University of Michigan

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