REITs

Contacts:
J. Warren Gorrell Jr., Washington, D.C.
David W. Bonser, Washington, D.C.
Nigel Read, London

Lawyers in Hogan Lovells' Real Estate Investment Trust (REIT) practice have advised on REIT transactions for years. In fact, we pioneered the umbrella partnership real estate investment trust (UPREIT) structure that is today employed by almost all REITs in the United States.

Well-versed in the issues facing public and private real estate companies, we serve as principal corporate, securities, and tax counsel for public and private REITs, lodging companies, and other real estate companies. We represent clients in portfolio acquisitions or dispositions and in the creation of real estate investment funds. We also represent underwriters in securities offerings issued by real estate companies. We provide practical advice based on years of experience. 

Our advisory services range from assistance on straightforward securities offerings to far more complex issues, such as conversions and initial public offerings, bank financings, public-company merger and acquisition transactions, and operating partnership 'unit' transactions. To date, we have represented issuers or underwriters in more than 35 initial public offerings of REITs or real estate operating companies (REOCs). During the 2006-2007 boom in REIT-related mergers and acquisitions in the United States, we advised targets and acquirers in more than 40 percent of all completed REIT-related transactions in excess of US$500 million. In 2009, we acted on the first REIT-on-REIT takeover in the United Kingdom and also advised the issuers on two major REIT rights issues in the UK.

• "Specially lauded for its public REITs work. The team not only acts on formations, but also advises on all the needs of clients, including M&A and securities offerings." Chambers Global, 2010
• Tier-one ranking for REITs, Chambers USA, 2007-2010, 2012 
• Tier-one ranking for REITs, Legal 500 US, 2009-2010, 2012 
• Ranked among the top ten for 'U.S. announced and completed REIT and Real Estate deals in 2008' by Bloomberg