Real Estate Investment Trust and Real Estate Operating Company Representation

The Orrick Real Estate Group represents several public and private REITs and real estate operating companies. The firm's REIT Practice Group is composed of lawyers with substantial experience and expertise in the wide range of corporate finance, real estate, and tax issues that are encountered by REITs in their formation, financing, and daily operations. The firm has represented numerous sponsors and underwriters of REITs in the formation and initial public offering of public REITs and in the structuring, financing, and operations of private REITs. Our REIT services include regular day-to-day representation of public REITs with respect to securities law matters, advice on the unique qualification and compliance rules applicable to REITs, and advice on the many unique tax issues relating to REITs, including converting existing taxable or tax-exempt entities into REITs, structuring "UPREITs" and "DOWNREITs" and acquiring properties with operating partnership units. In addition to representing our REIT and public operating company clients on their financing transactions, our lawyers have also been extensively involved in representing lenders making loans to REITs and other entities participating in the financing of REITs. A separate description of the REIT Practice Group is available upon request.