Orrick Advises on Two of Top Ten Largest Global Real Estate M&A Deals in Q1 2017


Orrick advised in two of the ten largest real estate M&A deals to close in the first quarter of 2017, according to recent Dealogic data published by Law360. The publication recognized Orrick as one of only four law firms globally to advise in multiple deals among the top ten, each of which exceeded $1 billion in value.

Mike Liever led the Orrick Real Estate team that advised Swedish fund manager Alecta in the sale of 21 U.S. assets to Blackstone Group for $1.7 billion. The portfolio sale, which was part of Alecta’s strategic exit from the U.S., included high-quality shopping centers in California, two retail buildings housing Sephora and Disney stores on Chicago’s Magnificent Mile, and an office building in Washington that was featured in President Barack Obama’s push to make commercial buildings more energy-efficient. The full Orrick team and additional deal details can be found here.

Karen Dempsey and Richard Smith led the M&A team that advised Silver Bay Realty Trust Corp. in its $1.4 billion acquisition by Tricon Capital Group Inc. Silver Bay stockholders will receive $21.50 per share in cash for each outstanding share of common stock held immediately prior to the closing of the transaction. In addition, Tricon Capital will assume or repay a total of approximately $600 million of Silver Bay’s debt (net of cash on hand). The full Orrick team and additional deal details can be found here.

The Law360 report reflects the scope and impact of our Real Estate and M&A practices. Mike was recently named by Best Lawyers in America as its 2017 San Francisco Real Estate “Lawyer of the Year”, and in 2016 Chambers USA ranked our Real Estate team among the top firms in California. In PitchBook’s 2016 Annual Global League Tables, published this past February, Orrick ranked as one of the leading providers of M&A counsel for deals announced, including top 15 placement on some of the most highly-regarded industry league tables.