Goodwin maintains its reputation as a leader in the REIT practice, with a deep bench of specialists representing both private and public REITs in an array of transactions. The firm has expertise in REIT-related equity and debt offerings, M&A transactions and complex joint venture investments. Also of note is the team’s significant experience representing REITs and underwriters in initial public offerings. The team is spearheaded by joint heads Yoel Kranz and Ettore Santucci. Based in New York, Kranz is an expert in corporate mergers and acquisitions while Boston-based Santucci is a specialist in publicly traded REITs, REIT securities offerings as well as in matters related to executive compensation. Other standout members are Boston attorneys Caitlin Tompkins, who has a focus in securities law, William Goldberg, who is well versed in capital markets, and Eryn Mathews who has expertise in the full gamut of REIT mandates including follow-on shelf offerings and 144A offerings of equity and debt securities. Another integral attorney is M&A expert Christopher Versfelt. Scott Chase departed in October 2024.

Deeply experienced in REITs, Hogan Lovells US LLP dominates the space, representing a significant proportion of US REITs as company or underwriter’s counsel. The firm houses a deep bench of specialists and is skilled in the entire spectrum of REIT mandates including IPOs, M&A, capital markets, joint ventures and corporate governance. Among the firm’s diverse and enviable clientele are single-family, senior housing, hotel, office and retail REITs. Co-heading the practice are Washington DC-based David Bonser and Cristina Arumi. Bosner leverages deep experience working on public company capital markets, assisting with raising capital, while Arumi is the go-to for the tax aspects of REIT transactions. Also in DC, Prentiss Feagles is proficient in REIT tax-related matters while Mike McTiernan advises public REITs on corporate and securities matters. Other standout practitioners in the DC office are Paul Manca, whose workload consists largely of securities and capital markets advice, and Stacey McEvoy who distinguishes herself for her work in M&A and joint venture transactions. Josh Scala is the key client contact for Welltower and mainly advises on tax issues from San Francisco.

Per one client, Latham & Watkins LLP’s REIT team is ‘the best of the best’, maintaining its reputation of handling marquee REIT transactions and financings across all asset classes, particularly large-scale IPOs. Alongside its strong expertise in IPOs, the team has extensive experience in M&A and debt offerings. Leading the team in Los Angeles, Julian Kleindorfer distinguishes himself for advising REITs on the full breadth of corporate finance and securities matters including securities offerings and major joint ventures. In Century City, Ana O’Brien chiefly focuses on the tax aspects of REIT transactions and is relied on for her deep knowledge of the federal taxation of REITs. Highly sought-after capital markets expert Lewis Kneib is reputed for his prowess as outside counsel to prominent REIT companies, including data center REITs, and underwriters on debt and equity offerings. In the Washington DC office, Abigail Smith stands out for her work representing issuers and underwriters, while Brent Epstein and Craig Garner, found in Century City and San Diego respectively, also come recommended. William Cernius retired in 2024.

 

Sidley Austin LLP houses a deep bench of specialists in the REITs practice, providing a comprehensive offering that spans capital markets, SEC, tax, securitization, structured finance, and M&A. A recent standout matter for the team was being engaged as company counsel on American Healthcare REIT’s IPO. The team serves a stellar roster of clients, acting as both issuers and underwriters counsel on major transactions in all asset sectors. The practice is steered by seven seasoned practitioners. In New York, Jerry Cummins, Edward Petrosky, Bart Sheehan, Jason Friedhoff and Christian Brause take the lead. Cummins is active on the full range of securities offerings while Petrosky focuses on IPOs, and is designated underwriter’s counsel for a plethora of leading companies. Co-leader of the firm’s non-traded REIT practice, Friedhoff specializes in IPOs and is well-versed in matters involving equity and mortgage REITs. Debt and equity securities form the cornerstone of Sheehan’s practice, who is also the co-head of the wider capital markets practice at the firm. On the tax front, team lead Brause has a strong track record advising on all tax aspects encountered by equity and mortgage REITs, and is routinely the lead tax attorney on the firm’s most substantial REIT transactions. From the Washington DC office, co-lead Sonia Gupta Barros dominates in the areas of SEC disclosures and compliance and corporate governance. The seventh co-head, Ivy Jones, is a pre-eminent member of the tax team based in Los Angeles and is a go-to for the tax structuring of complex transactions involving publicly traded REITs. In New York, Adam Gross is singled out for his experience in public offerings.

 

Maryland corporation law is the speciality of Ballard Spahr LLP‘s REIT practice which excels in advising both public and private Maryland REITs on the full spectrum of corporate, securities, tax and bankruptcy issues. As corporate counsel, the team’s expertise forms a key component of major transactions involving the formation, organization, and capitalization of REITs. Practice head Douglas Fox is experienced in capital raising transactions, securities offerings and corporate governance. Co-head  Charles Moran is a key figure for REIT M&A matters, with his practice spanning the full breadth of Maryland-based corporate law matters. J. Thomas Bashore is an integral member of the team and his workload focuses on underwritten public offerings and private placements of debt and equity securities. All lawyers mentioned are in Baltimore.

 

DLA Piper LLP (US)‘s REIT practice centers largely on non-traded REITs, handling matters at all stages of their life cycle from formation and IPO to debt and equity offerings, joint ventures and M&A transactions. With an office in Baltimore, the firm is well-equipped to advise on specific Maryland law-related REIT issues. Bankruptcy and restructuring are other areas where the firm excels but what distinguishes the practice is its top-rate REIT tax offering, spearheaded by Shiukay Hung from New York. Hung, who is praised as possessing ‘a deep understanding of the technical REIT tax rules’, regularly advises investors and is sought out to act as special REIT tax counsel on major transactions. In Raleigh, Robert Bergdolt heads the REIT sub-group and has a strong presence in non-traded REIT public and private offerings. Also located in Raleigh, Christopher Stambaugh represents leading NAV REITs, drawing on deep knowledge of the area to assist clients with developing new structures. San Diego-based securities lawyer Darryl Steinhause is another practitioner to note. Kerry Johnson departed in October 2024.

 

Kirkland & Ellis LLP’s REIT team is active in M&A, joint ventures, and spin-offs for public and private REITs. The firm brings together a multidisciplinary team to advise on matters spanning M&A, tax, real estate and capital markets. A key area of strength for the department is portfolio transactions, with recent work spanning multifamily, industrial, and logistics portfolios. Alongside this, the team is active in the net lease space, routinely assisting clients on the launch of the formation and launch of net lease offerings. Michael Brueck  represents buyers and sellers in REIT M&A, while Mike Beinus handles the tax side of REIT transactions and REIT debt and equity offerings. David Perechocky and Christopher Hartmann are also both recommended.

Capital markets is where Morrison Foerster shines with its REIT department, having expertise advising clients on public listed and non-listed IPOs, equity and debt offerings, and private offerings. The firm represents a diverse clientele, including public and private issuers, sponsors, underwriters, funds, and investors across both traditional and non-traditional asset types. Alice Connaughton and Larry Medvinsky jointly lead the practice from Washington DC. Connaughton recently led the termination of AIREIT’s public offering and shift to private sales, spearheading a new strategy in the public non-listed NAV REIT space. Medvinsky has a broad practice, spanning joint ventures, M&A and corporate and securities mandates. Capital markets expert Justin Salon  in Washington DC. continues to represent clients in debt and at-the-market offerings while San Diego-based Shane Shelley is the key contact for REIT tax matters at the practice. Other notable practitioners on the bench include Washington DC-based Andrew Campbell who has experience representing purchasers and underwriters on corporate and securities law matters, and John Hensley in Austin who is well-versed in IPOs, follow-on offerings, and private placements.

The firm’s strong relationship with Blackstone is what sets Simpson Thacher & Bartlett LLP apart, handling significant REIT M&A and capital markets work for them. Aside from Blackstone Real Estate Income Trust, the firm represents investors and underwriters in securities matters. Leadership is shared between three partners, Brian Stadler, Sasan Mehrara, and Edgar Lewandowski. Stadler represents clients in take-private transactions and is an expert in M&A. On the capital markets front, Lewandowski is a specialist, regularly advising on spin-offs, IPOs and other equity and debt offerings. Tax is where Mehlman excels, drawing on extensive knowledge of the tax matters related to fund formation. Benjamin Wells is well-versed in the launch of REITs and SEC-registered offerings.

 

 

Skadden, Arps, Slate, Meagher & Flom LLP has a comprehensive REIT offering, handling the full gamut of matters from M&A to restructurings and financings. The team is known for its strengths in equity and mortgage REITs, including REITs that specialize in mortgage-backed securities and mezzanine loans. The REITs tax team in particular distinguishes the firm as well as the practice’s prowess in creating new types of REITs. Co-leading the department is David Goldschmidt in New York, Palo Alto-based Gregg Noel, David Polster who leads from Chicago, and Harvey Uris who is also a part of the New York practice. Goldschmidt focuses his practice on capital markets transactions while Polster is an expert on REIT tax matters. Over in Chicago, tax specialist Sarah Beth Rizzo stands out for her capabilities in federal income tax planning for REIT transactions, spanning M&A, reorganizations and private and public securities offerings.

Core to Sullivan & Worcester LLP‘s practice is its REIT tax capabilities which Ameek Ashok Ponda is at the helm of. Director of the firm’s tax department, Ponda concentrates largely on representing public and private REITs in structuring corporate mergers and acquisitions. Co-leading the REIT team is Angela Gomes and Louis Monti. Monti has a broad practice, representing clients in acquisitions and restructurings across a range of real estate asset classes and in multi-state portfolio transactions. Sarah Wellings is experienced in counseling on REIT-compliant structuring and federal and state tax aspects of REIT formation, conversion and liquidation matters. Lindsey Getz focuses on public REITs while Shu Wei handles equity and debt financings. All aforementioned lawyers are located in Boston.

Venable LLP, praised as ‘the gold standard’, is a specialist Maryland corporate practice, frequently serving as Maryland counsel in REIT capital-raising transactions. The firm advises publicly traded Maryland REITs and SEC-registered, non-listed and private REITs on Maryland corporate law aspects of IPOs, equity and debt offerings and M&A. The head of the practice is Michael Schiffer in Baltimore. James Hanks is reputed for his deep knowledge of all aspects of Maryland law. Christopher Pate is lauded as a ‘stand out’, representing clients in corporate governance issues and securities transactions. Pate also regularly counsels buyers and sellers in major mergers and acquisitions. Carmen Fonda also comes recommended. The entire team is based in Baltimore.

Wachtell, Lipton, Rosen & Katz‘s REIT practice is devoted to REIT M&A, advising on marquee matters like Kimco Realty Corporation’s acquisition of RPT Realty. Co-chair of the firm’s corporate department, New York-based Adam Emmerich heads up the team and expertly handles REIT mergers and acquisitions, divestitures, spin-offs and joint ventures. Emmerich is also well-equipped to advise REITs on a range of matters related to corporate governance. Also in New York, co-chair Robin Panovka is a leading authority on REIT M&A transactions, serving as co-chair of the NYU REIT Center.

Clifford Chance‘s REIT offering, praised for its ‘long-term focus representing REITs’, sits within the wider global financial markets practice and is led by finance experts Andrew Epstein, Jason Myers, and Kathleen Werner. Epstein is well-versed in capital markets transactions, assisting clients with equity and debt offerings. Meyers has broad experience with both listed and non-listed REITs while Werner focuses on corporate transactions for public companies. The firm has had recent activity advising on REIT spin-offs and private offerings by non-traded REITs.  Jay Bernstein is highly reputed for his extensive expertise in capital raising and mergers and acquisitions. All lawyers mentioned are based in New York.

Capital markets is at the heart of Greenberg Traurig, LLP‘s REIT practice with its caseload consisting largely of private, initial and follow-on offerings. Another key feature of the practice is its expertise in structuring the formation of private and public REITs. Operating out of New York, team head Joseph Herz, who co-chairs the team with Robert Ivanhoe, is the first port of call at the firm for providing REIT clients with corporate and securities counsel. The unit is praised as being ‘a team of all stars’, with Herz at the helm of a panoply of debt and equity matters, acting for both issuers and underwriters. Over in Boston, Jennifer Weiss represents traded REITs, public non-traded REITs and private REITs on the structuring of an array of complex tax-oriented commercial transactions alongside New York-based Timothy Donovan with in-depth knowledge of the federal income taxation of real estate investment trusts (REITs). Also in the New York REITs tax space, Carl Riley is a name to note.

 

 

 

Hunton Andrews Kurth LLP‘s real estate capital markets, tax, and M&A practices come together to assist its mainly publicly traded REIT client base with real estate capital market transactions, M&As, and IPOs. The cross-departmental team is praised as providing ‘the full suite of’ advice and in particular demonstrates capabilities in equity and debt transactions as both issuer’s and underwriter’s counsel. The department shines in the mortgage REITs space, advising an array of publicly traded mortgage REITs as company counsel, alongside its strong emphasis on hotel REITs.  Operating from Washington DC, well-respected capital markets lawyer Robert Smith comfortably handles public REIT transactions and jointly leads the team with Kendal Sibley from Richmond who is an expert in the federal tax aspects of structuring equity and mortgage REITs. In Richmond, Kate Saltz is a key figure in corporate finance and public and private securities offerings while George Howell in the tax team also comes recommended.

 

King & Spalding LLP fields public offerings, fund formation, and finance issues for its clientele of both public and private REITs. The team is especially active with private REITs, and advises on a broad range of matters encompassing M&A and equity and debt offerings. The REIT-focused corporate, finance and investment practice is co-led by three partners including Spencer Johnson who covers the full gamut of capital raising transactions and corporate governance mandates and Kathryn Furman who is adept in other key areas like fund formation and joint ventures. Both co-heads are from Atlanta, as is partner Keith Townsend who is highlighted for his expertise in IPOs. On the tax front, Atlanta-based Wayne Pressgrove is a specialist and has provided tax advice to major  clients such as leading housing REIT Greystar. Tony Rothermel retired in June 2024.

 

 

Mayer Brown‘s REIT offering blends together capital markets, M&A and corporate governance expertise. The team is frequently engaged as underwriters’ counsel for various public REITs. Drawing on the firm’s wider expertise in residential mortgage securitization, the practice is a go-to for mortgage REITs.  Practice head and capital markets lawyer Anna Pinedo concentrates on financing matters and securities. David Freed is intimately familiar with equity and mortgage REITs, assisting with private placements, IPOs, and follow-on offerings. REIT issuers, sponsors and investment banks rely upon Brian Hirshberg for his expertise in public equity and debt offerings. All three lawyers operate out of New York and are supported by Chicago-based Haukur Gudmundsson, who is well-versed in securitizations and structured finance transactions, and Susannah Schmid who handles mortgage loan transactions. Capital markets expert Jason Parsont joined the firm from Clifford Chance in September 2024.

 

 

Morris, Manning & Martin, LLP‘s REIT practice is well positioned to advise public and private REITs, as well as non-traded REITs, on the entire range of capital markets, joint ventures and M&A transactions. The team is led by ‘extremely knowledgeable’ Lauren Prevost in Atlanta who has significant experience in representing issuers and underwriters in the IPO process. Other integral members of the Atlanta office include Seth Weiner, an expert in securities offerings, and Shannon McNulty, who specializes in representing clients in corporate governance matters and private placements to raise capital. Over in Washington DC, Aresh Homayoun has a comprehensive REIT-focused tax practice, assisting on the federal income taxation aspects of REIT partnerships.

Vinson & Elkins LLP’s practice is led by Daniel LeBey in Richmond, who focuses on REIT securities offerings. Chris Mangin heads the REIT tax team from the firm’s Washington DC office. The firm handles a range of REIT transactions, including capital market activities such as equity and debt securities. The team has latterly been involved in mergers between publicly traded REITs, as well as mergers and acquisitions of both public and private REITs. Washington DC-based Greg Cope provides advice on all aspects of REITs, from initial formation to corporate governance, joint ventures, and corporate finance. Chris Green has a notable presence in DC and is recognized for his expertise in corporate finance. Playing a key role in the Richmond office, the bedrock of Paige Anderson‘s practice is federal income tax, tax-related issues for public and private REITs, and tax planning for both equity and mortgage REITs.

 

 

 

 

Sitting within the real estate group, Weil, Gotshal & Manges LLP‘s REIT practice is known for its experience in joint ventures, debt offerings, acquisitions and divestments, and distressed matters. Practice head Phillip Rosen has recently represented publicly traded REITs with complex restructurings while Phillip Rosen, who joined from Willkie Farr & Gallagher LLP in July 2024, jointly leads the team. Both lawyers in leadership are based in New York, as are Jannelle Seales and Pejman Razavilar who splits his time between Miami and New York. Seales and Razavilar are adept at M&A and joint ventures.