Dustin Calkins


San Francisco

Dustin negotiates real estate transactions with a view towards minimizing his client’s risk while still closing the deal.

Dustin has significant experience representing leading public and private, and national and international real estate investors on a broad array of commercial assets, including industrial, multifamily, office, hotel and retail properties.

Drawing on this experience, he guides his clients throughout the life cycle of their real estate investments and provides practical and succinct legal advice. He helps clients form joint ventures for numerous purposes, including large scale investments, developments and recapitalizations. Dustin advises on acquisitions and dispositions of single assets as well as large national portfolios, ground-up developments and large scale re-developments, commercial leases, and complex loan facilities.  

Described by clients as having "a very good demeanor as a negotiator" and in impressing them with "his knowledge and understanding of what is important from a business perspective,” Dustin is recognized for outstanding real estate work across the United States in the Chambers USA 2016-2019 California Real Estate directories.

Dustin works regularly with the transaction teams of leading institutional real estate investors, including Bentall Kennedy, CalPERS, Deutsche Asset & Wealth Management, Gerding Edlen, GLL US Office, L.P., Los Angeles County Employees Retirement Association, Stockbridge Real Estate Funds, Swift Real Estate Partners and USAA.

  • Highlights of recent transactions include:

    • Advising a private equity fund on its more than $400 million disposition of its multifamily development portfolio across multiple markets.

    • Representing USAA on its $1.1 billion joint venture acquisition and financing of five regional malls from Westfield, which according to Real Estate Alert was the 2nd largest retail sale (portfolio) in 2015.

    • Counseling Heitman America Real Estate Trust on its acquisition and financing of The Shops at Wailea in Hawaii, which according to Real Estate Alert was the 9th largest retail sale (individual) in 2015.

    • Advising a real estate investment trust on its north of $1 billion acquisition and financing of an office and industrial property portfolio across the United States.

    • Counseling an international fund on its formation of a joint venture and the $245 million acquisition and financing of an approximately 300-unit multifamily complex redevelopment located in the San Francisco Bay Area.

    • Representing an international fund on its $148 million acquisition of Buildings 2, 3 and 4 at “Stadium TechCenter,” a Class A office/R&D center located in Santa Clara, California.