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David W. Bonser

Washington, D.C.

David W. Bonser

David Bonser heads the firm's Equity and U.S. Debt Capital Markets Practice Group. He has advised public and private companies on corporate, securities, and partnership transactions for more than 25 years. He has advised issuers and underwriters in more than 100 public and private capital-raising transactions, with a particular focus on helping real estate companies raise capital.

In his public company capital markets practice, David guides companies through complex initial public offerings (IPOs), helping them raise equity and debt capital as public companies, and providing general securities law and governance advice once they are public. In his private capital markets practice, he advises clients on private placements and private equity fund formations.

David has broad experience in public and private mergers and acquisitions (M&A) and joint ventures for real estate companies, serving as the primary counsel in numerous high-profile transactions in the last several years. He has represented buyers, sellers (including special committees of public company boards), partners, and financial advisors.

David has been focusing on real estate investment trust (REITs) since before they were cool; he has been at the forefront of the REIT industry since it took off in the early 1990s. He has served as counsel to issuers and underwriters for dozens of public company REITs. He is a regular speaker at industry events, and has been ranked for years in Tier 1 for REITs in both Chambers and Legal 500.

A "terrific lawyer" who has "a great demeanor in front of the board."

Chambers USA 2015

Representative experience

Represented QTS Realty Trust, Inc. in its US$298m IPO and several follow-on offerings.

Represented Industrial Income Trust in its US$4.6bn sale to Global Logistic Properties Limited.

Represented Home Properties, Inc. in its US$8.4bn sale to Lone Star Funds.

Represented Kite Realty Group Trust in its US$2.1bn acquisition of Inland Diversified Real Estate Trust, Inc.

Represented RLJ Lodging Trust in its US$568m IPO and several follow-on offerings.

Represented Morgan Stanley Incorporated as financial advisor in connection with Excel Trust, Inc.'s US$2bn sale to Blackstone Property Partners, L.P.

Represented JBG Companies in the formation of nine real estate investment funds raising US$2.5bn and a US$2.5bn joint venture with MacFarlane Partners.

Represented Bell Partners Inc. in the formation of two real estate investment funds raising more than US$400m.

Represented JP Morgan, Citigroup, Deutsche Bank, and Key Banc as underwriters' counsel in the US$299m IPO by Retail Properties of America, Inc.

Represented Bank of America Merrill Lynch, Morgan Stanley, and a major financial institution as underwriters' counsel in the US$250m IPO by Hudson Pacific Properties.

Education and admissions


  • J.D., with honors, The University of Texas School of Law, 1987
  • B.A., cum laude, Duke University, 1984


  • Member, American Bar Association
  • Member, National Association of Real Estate Investment Trusts

Bar admissions and qualifications

  • District of Columbia


REITs (Nationwide)

Chambers USA


Real Estate: Real Estate Investment Trusts (REITs), Leading Lawyer

Legal 500 US


Finance: Capital Markets: Debt Offerings

Legal 500 US


Finance: Capital Markets: Equity Offerings

Legal 500 US


Real Estate

Legal 500 US


Investment Fund Formation and Management: Private Equity Funds

Legal 500 US


Corporate/M&A & Private Equity (District of Columbia)

Chambers USA


Mergers & Acquisitions

Legal 500 US


Investment Funds: REITs (USA)

Chambers Global

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