REITs

Sullivan & Worcester is nationally recognized for representing some of the nation's largest public and private REITs in a wide range of transactions, including mergers and acquisitions, UpREITs, DownREITs, secured and unsecured financings, senior, subordinate and convertible debt offerings, investment grade and sub-investment grade debt offerings, preferred equity offerings, and sale-leaseback transactions. We offer comprehensive counsel in these areas, including advice on entity formation, tax law, securities compliance, governance, environmental issues and workouts. The American Lawyer consistently ranks us among the top REIT law firms in the nation in terms of the number of REIT securities offerings as well as total REIT equity and debt funds raised.

Practice Profile (PDF)
Rankings (PDF)

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Representative Client Work

• Served as counsel to REITs and real estate operators in raising over $7.5 billion through the sale of debt and equity securities in the past four years
• Advised a publicly held REIT in a $450 million sale/manage-back transaction of 13 hotels in six states, one Canadian province and Puerto Rico
• Represented a publicly held REIT in connection with its $455 million acquisition of a publicly traded limited partnership which owned 5.2 million square feet of office and industrial buildings
• Structured three private timber REITs, for a combined equity capital raise of $1.5 billion
• Represented a publicly held REIT in the $480 million acquisition of 9.75 million square feet of commercial and industrial properties in Hawaii
• Worked with a publicly held REIT in a $600 million acquisition of another public company's subsidiary which owned 31 senior living facilities with approximately 7,487 living units in various states
• Advised a REIT in the acquisition of one of the country’s largest portfolios of hospitality and fuel service travel centers, and the spin off of a qualified tenant to lease the acquired real estate