From the beginning of the REIT industry, when our lawyers helped draft the Real Estate Investment Trust Act of 1960, through the firm’s pioneering work on the creation of the first public UPREIT structure in 1992, Goodwin Procter has been consistently recognized as one of the leading law firms serving public and private REITs. As REITs have matured into a mainstream investment and expanded their reach around the globe, our clients have continued to rely on us for our expertise.
In the Taubman Centers IPO, we pioneered the first public UPREIT structure and rendered the first UPREIT tax opinion used in a public securities offering. We were also among the first firms to widely use the DownREIT/joint venture structure to provide non-UPREITs with many of the benefits enjoyed by UPREITs – such as acquiring properties for equity and offering tax-deferral options to contributors. As REITs have matured into a mainstream investment and expanded their reach across the globe, our clients have relied on us to develop structures that efficiently maximize their investments. In recent years we’ve structured and executed REIT transactions totaling over $150 billion.
We have a very active REIT capital markets practice covering:
- NYSE-listed equity REITs across all property sectors
- Mortgage REITs
- Unlisted REITs
- Underwriters
- Equity and debt
We work regularly on REIT and REOC strategic transactions such as:
- M&A and portfolio acquisitions (buy-side and sell-side)
- Highly structured joint ventures
- Debt restructurings
In response to economic changes, we’ve advised clients on de-leveraging opportunities and cash preservation strategies while maintaining REIT status.
Today, we continue to be at the forefront in the REIT sector across relevant disciplines. From securities and corporate finance to M&A, tax, real estate, fund formation and ERISA, attorneys in our practice understand the myriad issues REITs face, and provide coordinated counsel from throughout the firm.