REITs

 
Benjamin J. Armour Partner (617) 338-2423 vCard
Victor N. Baltera Partner (617) 338-2945 vCard
Susan M. Barnard Partner (617) 338-2473 vCard
Howard E. Berkenblit Partner (617) 338-2979 vCard
Ashley H. Brooks Partner (617) 338-2412 vCard
Aidan F. Browne Partner (617) 338-2996 vCard
William J. Curry Partner (617) 338-2976 vCard
Paul W. Decker Counsel (617) 338-2478 vCard
Harry E. Ekblom Jr. Partner (617) 338-2843 vCard
Michael W. Fenn Counsel (617) 338-2494 vCard
Lindsey A. Getz Partner (617) 338-2480 vCard
Nancy S. Grodberg Partner (617) 338-2434 vCard
David A. Guadagnoli Partner (617) 338-2938 vCard
Brian E. Hammell Associate (617) 338-2462 vCard
William C. Hanson Associate (617) 338-2983 vCard
Warren M. Heilbronner Partner (617) 338-2946 vCard
David H. Kaplan Of Counsel (617) 338-2856 vCard
Eric D. Lemont Partner (617) 338-2410 vCard
Max M. Levine Associate (617) 338-2418 vCard
Louis A. Monti Partner (617) 338-2476 vCard
Jeffrey B. Morlend Associate (617) 338-2818 vCard
Alexander A. Notopoulos Jr. Partner (617) 338-2810 vCard
Ameek Ashok Ponda Partner (617) 338-2443 vCard
Avinash R. Rao Associate (617) 338-2451 vCard
John M. Steiner Partner (617) 338-2902 vCard
Adam N. Weisenberg Partner (617) 338-2479 vCard
Elizabeth S. Wigon Counsel (617) 338-2984 vCard

Sullivan & Worcester LLP is nationally recognized for representing public and private REITs, real estate developers, real estate operators, pension fund advisors, pension funds and foreign investors. 

The Legal 500 (U.S.) recognized Sullivan & Worcester as REIT Practice Group of the Year in 2015 and The American Lawyer has consistently ranked Sullivan & Worcester among the top law firms in the nation in representation of public REITs based upon the number of REIT offerings as well as total REIT equity and debt funds raised. Our clients include some of the country's largest and most active public REITs.

Our REIT Group has extensive experience in formation, capital raising, mergers and acquisitions, conversion of C corporations to REITs, tax matters, securities law compliance, governance issues, property management and leasing, environmental and land use matters and workouts for troubled properties.

We represent REITs and other industry participants across an array of real estate sectors, including: business storage facilities; cold storage facilities; communications towers; data centers; dark and lit fiber; digital billboards; distributed antenna systems; foreign real estate; hotels and travel centers; industrial properties; mortgage REITs; multifamily residential; office buildings; retail properties; senior living facilities; solar, wind and power infrastructure; timberlands; transmission and distribution lines; and vineyards, greenhouses and other agricultural properties. 

By equity market capitalization, we represent approximately 10% of the public REIT market.

Our REIT experience includes:

  • Represented REITs in the acquisition of thousands of properties valued in the aggregate in tens of billions of dollars
  • Represent REITs in a wide range of financing transactions and structures, including secured and unsecured financings, senior, subordinate and convertible debt offerings, investment grade and sub-investment grade debt offerings, preferred and common equity offerings and sale-leaseback transactions
  • Since 2010, we have advised public REITs in over 60 public offerings of equity and debt securities totaling more than $36 billion
  • We design cross-border REITs and cross-border REIT investments
  • We counsel foreign taxable and tax-exempt investors with respect to structuring investments in U.S. real estate, including in public and private REITs
  • We counsel investment advisors in structuring private REIT funds to invest in blind real estate pools, including funds targeted exclusively to non-U.S. investors
  • We represent investors in dealing with troubled lessees, borrowers and acquisition targets, both in litigation and in bankruptcy
  • We have structured six private timber REITs which raised approximately $3 billion in combined equity capital
  • We have represented REITs in obtaining Private Letter Rulings from the IRS
  • We have developed strategies for and implemented novel transactions, including REIT-to-REIT spin-offs and spin-outs

Recent Articles/Presentations

Ameek Ponda Tax Forum Presentation on REITs (PDF)
Non-Customary Services Furnished By Taxable REIT Subsidiaries (PDF)
How Much Gain Would a REIT Defer if a REIT Could Defer Gain? (PDF)
Key REIT Conversion Considerations (PDF)
REIT Conversion Work Streams (PDF)
U.S. REITs Investing Globally (PDF)

Click to visit S&W's REIT Industry Insider

Visit our "REIT Industry Insider" to stay on top of the latest updates in the REIT industry.