Cleary Gottlieb’s real estate practice is diversified and global, spanning the full range of transaction types, regions and asset classes. Responding to both the limitations and opportunities presented by the credit crunch, we have recently advised on some of the largest and most high profile real estate acquisitions, dispositions, joint ventures, financings and restructurings. For more than 65 years, Cleary Gottlieb has been a pioneer in real estate law across the globe, providing clients with meaningful solutions to their business needs in fluctuating and complex markets.
Our real estate practice is broad-based and comprehensive, with lawyers regularly representing owners, lenders, developers and investors worldwide in:
- Acquisitions and dispositions
- Joint ventures, partnerships and equity investments
- Development projects
- Financings, including syndicated lending, securitizations and other capital markets transactions
- Bankruptcy and restructuring work, including workouts, distressed real estate investment and loan restructurings
- Leisure, hospitality and gaming transactions
- REIT transactions
As part of the firm’s integrated global practice, our real estate team regularly handles significant cross-border and domestic matters throughout the Americas, Europe, Asia and the Middle East. Our clients include major global financial institutions, leading private equity funds, governments and sovereign wealth funds, domestic and international pension funds, other institutional investors, and Fortune 500 companies.
Recent highlights from our practice include:
- Advising on the real estate aspects of many complex matters related to the financial crisis, including a cross-border acquisition in connection with the largest-ever bankruptcy in U.S. history;
- Advising on virtually every major LBO real estate financing that occurred before the onset of the financial crisis;
- Advising on various construction, financing and joint venture aspects of development projects in Bangkok, Dubai, Los Angeles, Mexico City, Miami, Muscat, New York, and Zanzibar, among many others;
- Advising on the purchase and sale of trophy office buildings and hotels in New York, Washington, D.C., Florida, California, Colorado, and other locations in the United States and internationally, including a transaction representing approximately 25 percent of the New York real estate sales volume from January - October 2008 (Bloomberg);
- Representing a syndicate of lenders in the largest real estate transaction in history, which was also, at the time, the largest-ever LBO in any industry;
- Advising a major equity investor in the largest-ever sale of a single office building at the time;
- Advising on the largest single-asset mortgage loan origination and securitization at the time and the largest mezzanine loan ever originated; and
- Advising in the first-ever Korean Won denominated securitization and also in the first Dubai securitization offered to U.S. investors.
We are uniquely qualified to assist clients with such complex matters because of our “one firm” approach to the practice of law. There are no formal departments at Cleary Gottlieb and all clients are clients of the firm, not of an individual partner. This allows our real estate lawyers to collaborate with our experts in other related fields and seamlessly work together to best serve our clients.
We continue to be recognized for the breadth of our experience and for our exceptional group of lawyers who are widely regarded as innovators and leaders in real estate law. With new and exciting projects on the horizon, we expect our practice and prominence to continue to grow.