Orrick Advises Silver Bay Realty Trust Corp. in its $1.4 Billion Acquisition by Tricon Capital
We have counseled on some of the most remarkable and challenging real estate deals for longtime clients like Westbrook Partners, Walton Street Capital, Deutsche Asset & Wealth Management, Tokyu Land Corporation, Colony Capital, LaSalle Investment Management and Fortress Investment Group.
Our team has closed more than $14 billion in deals in the past year alone. Our practice has a strong focus on sophisticated real estate private equity transactions, and covers everything from asset acquisitions/dispositions, joint ventures and financings to development, distressed debt investments and commercial leasing. With teams in San Francisco, Los Angeles, New York, London, Milan, Paris, Düsseldorf and Tokyo, we combine worldwide coverage with on-the-ground support and market knowledge. As one client told Chambers USA: "They are deal-makers, not deal-breakers. They make sure you make the right decisions."
Leading international investment funds, fund sponsors, advisors, developers, public and private pension funds, REITs, and institutional lenders rely on us to help implement global investment strategies. We recently counseled a Japanese real estate company on its significant investment in a joint venture in Manhattan, a U.S.-based investment firm in establishing an Italian real estate fund and its purchase of 13 assets, and German and U.S. investors in the purchase of real estate and distressed assets in Mexico and Peru.
We have counseled on major industrial portfolio transactions, including a $2.1 billion tender offer for a publicly traded REIT with the purchase of 95 industrial/business parks, the disposition of a significant retail portfolio in Japan, and the bankruptcy acquisition (with non-recourse financing) and later disposition of 140 assets from the bankrupt Hostess portfolio.
We have deep knowledge of the hospitality sector and have closed numerous equity and debt transactions involving landmark hotels, such as the sale, financing and conversion of the Ihilani Hotel at Ko Olina to a Four Seasons branded property, and the financing and sale of the Westin San Francisco Market Street. We handle the hospitality and residential development and financing platforms for one of the leading international private equity funds and have experience with all major luxury hotel brands.
We have experience with complex, multiuse development transactions involving the structuring of projects with separate parcels, each with distinct use, equity capitalization and financing. We have recently counseled on the development of major residential, hotel and office projects in East London, San Francisco, Sacramento and Bellevue, Washington.
Reflecting our focus on serving the technology sector, we have deep experience in tech company-focused real estate transactions. We have closed several high-profile deals for office parks and developments in the Bay Area and Southern California tech communities, such as the joint venture acquisition and development of Stadium Tech Center in Santa Clara, and the acquisition and lease to Facebook of a 1 million-square-foot office campus in Menlo Park. We assisted with the acquisition and triple net lease of a state-of-the-art data center in Virginia, and we assist clients with ground-lease transactions for new developments and existing buildings, build-to-suit leases, sale-leasebacks and creative tenant-equity leases.
Our team is recognized worldwide for market leadership. Our Practice Group Leader Mike Liever was named a 2015 MVP by Law360. The Legal 500 2015 cites us as a leading real estate practice in the U.S., UK, France, Italy and Japan. And Financial Times selected our representation of a Hackman Capital Partners-sponsored vehicle in the acquisition and subsequent disposition of a former Hostess real estate portfolio as one of the most innovative deals of 2014.
$250 million sale of the Ihilani JW Marriott Hotel at Ko’Olina.
$250 million sale of a 400,000-square-foot office park in Mountain View to Google.
$1.8 billion in aggregate acquisitions of hospitality, office, retail and residential properties and distressed debt.
Acquisition of the historic Culver Studios television and film studios in Culver City, California, including a capital raise for the acquisition and concurrent bridge financing. Also advised on the sale of the Beats by Dr. Dre corporate headquarters in Culver City.
Joint venture with developer Sellar Properties for the acquisition and major development into a £500 million town center of a 7-acre site in Canada Water in east London.
Significant equity investment in the 425 Park Avenue development project, the first full-block office development on Manhattan’s Park Avenue in three decades. The joint venture of Tokyu, developer L&L Holding Company and GreenOak Real Estate secured $556 million in construction financing from Cornerstone Real Estate Advisers to fund development of the 897-foot office tower.
$6.5 billion of acquisitions, dispositions, developments and related financings and joint ventures for a wide range of real estate assets across the United States and Japan since 2011.
Joint venture for the US$1.1 billion acquisition of five regional malls from Westfield, located in Milford, Connecticut; Aurora, Illinois; Vernon Hills, Illinois; Santa Ana, California and Vancouver, Washington.
March.14.2017 - March.17.2017
They differentiate by never saying 'no' and by meeting tough timelines.Chambers USA, 2016
Their service is excellent.Chambers Asia, 2016
They are deal-makers, not deal-breakers. They make sure you make the right decisions.Chambers, 2015
‘Client-oriented’ seven-partner team has ‘great technical experience’ and ‘a deep knowledge of commercial real estate.Legal 500, 2015