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Hogan Lovells US LLP

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David Bonser

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Hogan Lovells US LLP

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David Bonser advises and represents public and private companies on a wide variety of corporate, securities and partnership transactions, with a particular focus on transactions involving real estate companies. These transactions include public and private equity and debt securities offerings, public and private mergers, asset acquisitions and dispositions, stock purchases, investment fund formation and joint ventures. He regularly advises clients on general business issues and general securities law and reporting compliance matters.


National Association of Real Estate Investment Trusts.


University of Texas School of Law (JD, with honors, 1987); Duke University (BA, cum laude, 1984).

United States

Real estate

Within: Real estate

Hogan Lovells US LLP’s varied client base takes in foreign investors, REITs, private equity houses, developers and institutional investors. The practice significantly developed its New York offering with the hire of new head of practice Mark Eagan, who joined from Paul Hastings LLP. Eagan’s clients include Ivanhoé Cambridge and GreenOak Real Estate. In Washington DC, key players include Bruce Parmley and Lee Berner, and in a standout matter, Berner continued to advise General Electric on the $23bn sale of its real estate portfolio. Also in Washington DC, David Bonser acted for Parkway Properties in its merger with Cousins Properties and spin-off of Houston assets into a separate public company. The practice also has outlets in Los Angeles and Colorado Springs, with Albert Stemp and David Isbell the respective contacts. Stemp handled a number of important matters in 2016, including representing Hudson Pacific Properties in its $180m joint venture with CPPIB to acquire and finance a newly constructed office project in Seattle, and advising Colony Capital in connection with a $107m equity investment in a luxury apartment developer.

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United States: Finance

Capital markets: debt offerings

Within: Capital markets: debt offerings

Hogan Lovells US LLP leverages its robust regulatory practice to provide a specialist skillset in advising issuers from the regulated industries on debt matters, with healthcare, telecoms, defense, aerospace and life sciences all standing out as strong areas of expertise. Highlights in 2016 saw Washington DC-based Eve Howard acting for HNA Group, the owner of China's fourth-largest airline, on its circa €1.5bn debt finance raising relating its CHF2.7bn (enterprise value) acquisition of cargo handling company Swissport Group from PAI Partners. Also in Washington DC, Richard Parrino advised UnitedHealth Group on its $2.5bn notes offering. Glenn Campbell splits his time between Baltimore and Washington DC and worked alongside Washington DC’s Allen Hicks in advising Lockheed Martin on its $7bn investment grade notes offering, which was used to partially finance its $9bn acquisition of Sikorsky Aircraft. Elsewhere, Amy Freed, who splits her time between Baltimore and New York, acted for 21st Century Fox in two offerings of senior unsecured notes totaling $1.1bn. Washington DC-based group head David Bonser is also recommended.

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Capital markets: equity offerings

Within: Capital markets: equity offerings

Hogan Lovells US LLP’s practice is led from Washington DC by David Bonser, and has strong experience in deals concerning regulated industries, particularly healthcare, defense, life sciences, energy and financial services. Issuer mandates continue to account for the majority of instructions and highlights saw Richard Parrino advising cyber security company SecureWorks on its $112m IPO, and Eve Howard and Michael McTiernan acting for Playa Hotels & Resorts during its $100m IPO. On the underwriter side, Daniel Keating assisted UBS Investment Bank with Banc of California’s $100m public offering. In 2016, the group was boosted by the arrival of three corporate partners from Pepper Hamilton LLP: Rachael Bushey, John Duke and Steve Abrams, who co-chaired the life sciences and corporate and securities departments at his former firm, all join the Philadelphia office. Named partners are based in Washington DC unless otherwise stated.

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United States: Real estate

Real estate investment trusts (REITs)

Within: Leading lawyers

David Bonser - Hogan Lovells US LLP

Within: Real estate investment trusts (REITs)

Following the retirement of CEO emeritus Warren Gorrell, capital markets partner David Bonser leads the REIT practice at Hogan Lovells US LLP. Matt Thomson, who was promoted to partner at the beginning of 2016, advised Parkway Properties on its merger with Cousins Properties and the simultaneous spin-off of its Houston-based properties into a new REIT called HoustonCo. Bonser is working on a merger transition between long-term client JBG Companies and Vornado Realty Trust. Another key client is GE, for which Paul Manca and Bruce Gilchrist are handling the separate disposals of its domestic restaurant franchise loan portfolio and hotel finance franchise loan portfolio to several regional banks. Named attorneys are based in Washington DC.

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Legal Developments by:
Hogan Lovells US LLP

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  • DOJ Makes the Pilot Program Permanent and Announces FCPA Corporate Enforcement Policy

    The US Department of Justice ("DOJ") had announced a pilot program [1] ("Pilot Program") on April 5, 2016, which created new mitigation opportunities for companies that (i) voluntarily self-disclosed, (ii) cooperated fully, and (iii) took timely and appropriate remedial actions in FCPA matters that fell within the Fraud Section's mandate. The Pilot Program was to remain in effect for 1 year, starting from the day of its announcement. On March 10, 2017, the Acting Assistant Attorney General, Kenneth A. Blanco, announced in a speech that the Pilot Program would continue in full force until the DOJ reached a final decision on whether to extend it, and what revisions, if any, should be made to it. [2] The evaluation period of the Pilot Program ended on November 29, 2017, when Deputy Attorney General Rod Rosenstein announced the new FCPA Enforcement Policy ("Policy"), which effectively makes the Pilot Program permanent with some revisions. According to Deputy Attorney General Rosenstein, the FCPA Unit received 30 voluntary disclosures during the time period that the Pilot Program was in force, as opposed to 18 voluntary disclosures that were received during the previous 18-month period. The Policy has been incorporated into the United States Attorneys' Manual in order to "be readily understood and easily applied by busy prosecutors" as opposed to being promulgated in memorandum format. [3]
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      The importance and feasibility of crowdfunding platforms is increasing in stature and importance for current and future the entrepreneurs. Malta has recently acceded to the rising trend by creating its first crowdfunding platform, ZAAR, a reward-based crowdfunding platform who has recently been awarded with the first prize in its section at the National Enterprise Support Awards 2016 also as well as being one of the local projects that have represented Malta at the European Enterprise Promotion Awards 2016, held in Slovakia. Nonetheless start-ups based in Malta with global aspirations often rely on international platforms. An increase in interest has emerged amongst the art and culture community as well in social entrepreneurship projects. Crowdfunding in Malta is still at the early stages of development. Despite this, there are endless opportunities for local entrepreneurs and the local business community. Research has shown that through international crowdfunding platforms, monies have been raised for projects in the field of gaming consoles, apps and software as well as for artistic projects.  Testimony to this is a new game design studio in Malta, that launched its first game, Politicks, raised financing through the crowdfunding platform Indiegogo.