Goodwin remains a market leader for real estate investment trusts, handling a full suite of matters that spans both public and private REITs and includes large scale IPOs, equity and debt offerings, M&A and complex joint-venture investments, on behalf of a broad client list that includes major global financial institutions. Ettore Santucci is well known in the space for his representation of publicly traded REITs and real estate operating companies in corporate finance, M&A and corporate governance matters. He co-chairs the practice group alongside New York’s Yoel Kranz, who assumed the role after esteemed REITs practitioner Gil Menna stepped back to an of counsel role. Other key contacts within the group include Scott Chase , who is frequently engaged on the full-range of corporate and securities matters, whilst Mark Opper ‘s practice emphasizes REITs and real estate operating companies, advising on IPOs, follow on and 144A offerings. Counsel Christopher Versfelt is another stand-out for his M&A focus, alongside offerings of equity and debt securities, and complex financing transactions. All attorneys are based in Boston unless otherwise stated.

Hogan Lovells US LLP is regarded a ‘pre-eminent firm’ for REITs by clients, notable for handling a full range of high-end transactional matters in the space. The team has a strong track record in IPOs, M&A, capital markets, joint ventures and corporate governance issues. The group is headed up by Washington DC-based David Bonser, who led alongside Stacey McEvoy in advising Duke Realty Corporation on a $23bn merger with Prologis. Prentiss Feagles is vastly experienced in the area, excelling on complex transactional mandates. Praised as ‘brilliant and creative in solving complex tax structuring matters’, Cristina Arumi heads the firm’s REIT tax practices, lending her considerable knowledge advising on the tax aspects of capital markets and M&A involving REITs, while Mike McTiernan focuses his practice on REIT-specific corporate and securities issues, whilst Andrew Zahn is another important name within the group. All lawyers referenced here are resident in the firm’s Washington D.C office.

The team at Latham & Watkins LLP has a strong reputation for its expertise and experience through all phases of the REITs lifecycle. Core pillars of the group’s practice include complex roll-up IPOs and structuring high-value REIT organizations. Corporate finance and M&A expert Julian Kleindorfer jointly leads the team alongside Ana O’Brien  who specializes in complex REIT tax matters. Other key names include Lewis Kneib, who represents high-end clients on a range of capital markets transactions, and securities-focused William Cernius , who is based in Orange County. Brent Epstein focuses his practice on REIT public offerings. All lawyers are in Los Angeles unless otherwise stated.

DLA Piper LLP (US) focuses on advising both public and private REITs, alongside real estate operating and financing companies at every stage of the REIT life-cycle. The team’s steady deal-flow sees REIT formation, debt and equity offerings, UPREIT and DownREIT transactions, alongside complex M&A issues on behalf of major financial institutions and investment banks. Robert Bergdolt leads the team from Raleigh, and is an important name for securities regulations and non-traded REITs. In New York, Kerry Johnson co-chairs the wider real estate department and is vastly experienced in public-exchange listed REITs matters, while San Diego’s Darryl Steinhause  is a core member of the team with deep experience on securities transactions and specialized tax matters. New York’s Shiukay Hung is also an ‘industry savvy‘ go-to name for tax implications of REIT transactions.

Greenberg Traurig, LLP is involved in the entire life-cycle of REITs transactions, handling work spanning IPOs, private and follow-on offerings, SEC reporting, M&A issues, corporate governance and dispositions. The team also has a robust track record for representing private, traded and non-traded REITs, alongside underwriters, and has experience working with the federal regulators.. New York-based attorneys Joseph Herz and Robert Ivanhoe co-head the global practice, focusing on capital markets and M&A, and real estate structures respectively Boston’s Jennifer Weiss is a key name when it comes to associated tax issues. New York-based Timothy Donovan and Corey Light in Chicago are also key names in the team.

Kirkland & Ellis LLP draws from the firm’s strength across the board to advise public and privately traded REITs on an array of M&A, real estate, tax and capital markets issues including debt and equity offerings, financings and restructurings, portfolio transactions and IPOs. In New York, Michael Brueck focuses on M&A, whilst Mike Beinus represents clients on complex REITs-associated tax matters. Chicago’s Bruce Gelman  maintains his practice in advising on organization and structuring of REITs. Also in New York, Sarkis Jebejian  is another key name for transactional work.

Morrison Foerster‘s ‘top notch’ practice acts on behalf of sponsors, issuers, and REIT underwriters across the full spectrum of asset classes. The group’s corporate and transactional work in the space includes M&A, debt and equity offerings, alongside secondary offerings, joint ventures, and IPOs. Jointly led by David Slotkin and Justin Salon, the team also has demonstrable experience on formation and conversion, OP unit transactions and other UPREIT and DownREIT issues. Larry Medvinsky maintains his diverse REIT practice, focusing on corporate, securities, M&A, joint venture and fund formation, while Alice Connaughton advises on corporate issues including public and private securities offerings, and tender offers. After the departure of Heath Linsky in 2022, the group was bolstered by the elevation of Austin’s John Hensley to partner level in April 2022.

Proskauer Rose LLP remains active in the non-traded REITs space, with a strong record in advising on a range of matters ranging from formation and structuring, to evaluating and pursuing mergers and listings. The group counts major financial institutions and dedicated investment funds as key clients, including Blackstone, Digitalbridge and Morgan Stanley. The team also has the capability to handle a full-range of transactional work; co-head Steven Lichtenfeld  is a key name on IPOs, equity and debt financings. Fellow co-head Michael Choate  is vastly experienced in capital markets, major M&A and corporate finance issues.

Simpson Thacher & Bartlett LLP maintains its strong reputation for handling major transactional mandates in the space. The group continues its longstanding relationship with major private equity fund, Blackstone – providing representation on a vast range of different transactions in 2022, including the $12.8 billion acquisition of American Campus Communities. New York-based Brian Stadler has extensive experience on M&A  involving REITS, co-leading the group in conjunction with Edgar Lewandowski, who focuses on capital markets matters, and Gregory Ressa. Nancy Mehlman is another key name as co-head of the firm’s tax practice, advising on tax issues associated with real estate transactions.

Venable LLP remains notable for its deep expertise in matters of Maryland law, with an impressive track record for offering advice to the percentage of publicly traded REITs organized under Maryland law on a full-suite of matters including IPOs, stock and debt offerings, mergers and acquisitions, spin-offs, and other transactions. The group is headed up James Hanks, while Patricia McGowan  maintains her practice’s emphasis on Maryland corporation law as it intersects with REITs. Carmen Fonda  is well-versed on capital markets transactions for REITs, whilst Brian Field and Christopher W Pate remain important ports of call for specific, complex questions of Maryland corporation law. Former co-chair Sharon Kroupa  retired from the firm in 2022. All attorneys mentioned are in Baltimore.

Weil, Gotshal & Manges LLP draws from its deep bench of real estate, private equity and funds, finance and tax attorneys to advise issuers and underwriters on complex REIT transactions.Key areas of expertise for the team include public and private REIT offerings, including IPOs, secondary and follow-on offerings, private placements of debt and equity, and public issuances of debt . The practice is led by Evan Levy, who focuses on complex real estate transactions, and Philip Rosen, who is experienced in high-value REIT deals. Former co-head Michael Bond  remains a key member of the team for commercial lending transactions, and Jannelle Seales focuses her practice on M&A, joint ventures and restructurings. All lawyers mentioned are in New York.

Ballard Spahr LLP offers an experienced team that advises both public and private REITs on range of matters comprising complex securities, corporate, tax, real estate and bankruptcy issues. Baltimore’s Douglas Fox advises private and public entities, whilst Craig Ganz splits his time between the Los Angeles and Phoenix offices and advises on banking, financial and lending issues. The group is also well-placed to advise on specific matters of Maryland corporation law – Charles Moran is a key name here. Other important names in the department include real estate specialist Wendi Kotzen in Pennsylvania and ‘efficient and effective‘ counsel Thomas Bashore. Lawyers are in Baltimore unless otherwise stated.

Hunton Andrews Kurth LLP‘s capital markets-focused group is highly active across both the equity and mortgage sectors. IPOs, rule 144A equity offerings and M&A on behalf of both public and private REITs are key focuses for the team, which is praised for its ‘deep and broad knowledge of REIT structures‘. George Howell and David Wright  co-lead the department, whilst Houston’s James Davidson is an expert on IPOs and SEC compliance. Completing the leadership team, Washington DC's Robert K. Smith  is an important port of call on the capital markets side, whilst Kendal Sibley focuses on tax issues arising out of equity and mortgage REITs. Lawyers are in Richmond unless otherwise stated.

The ‘very experienced’ team at Mayer Brown represents REITS, large-scale investment funds and other vehicles in M&A, financings and corporate activity, alongside standout expertise in private placements and public offerings, alongside securitizations, highly-structured finance transactions and regulatory issues. Anna Pinedo leads the group from New York and is also co-leader of the global capital markets practice, focusing on complex REITs financing transactions. David Freed and Brian Hirshberg are key partners in the same office, specialising in equity and mortgage REITs, and registered and unregistered securities offerings, respectively. In Chicago, Haukur Gudmundsson is a key name.

‘Excellent attorney’ Lauren Provost leads the practice group at Morris, Manning & Martin, LLP, which has demonstrable transactional experience in the space across the full range of real estate asset classes, receiving mandates spanning complex equity and debt investments, private and public equity offerings, UPREIT transactions, restructurings, and M&As. Seth Weiner is a key name for corporate finance, while Washington DC's Aresh Homayoun focuses on the tax aspects of REIT transactions. Mark Stern is a key name to note at associate level. All lawyers mentioned are in Atlanta unless otherwise stated.

Vinson & Elkins LLP advises clients in a diverse range of asset classes owned and financed through REIT structures, advising on corporate and regulatory issues, REIT formation and capital market transactions, both public and private offerings of equity and debt securities, restructurings, and both UPREIT and DownREIT structures. Richmond's Daniel LeBey jointly chairs the practice in conjunction with tax specialist Chris Mangin. Other key contacts include Gregory Cope in, who advises REITs at every stage of their life-cycles, and corporate finance expert Chris Green. Lawyers are in Washington DC unless otherwise stated.

Integrated into the firm’s wider capital markets practice group, the team at Winston & Strawn LLP is jointly led by capital markets and corporate governance expert Charlie Haag and Bryan Goolsby  who dedicates a vast proportion of his practice to the representation of public and private REITs. Under the pair’s stewardship, the team acts on behalf of real estate operating companies, including private, non-listed and public REITs, alongside business development companies, on a diverse range of mandates including initial and follow-on public offerings of equity and debt securities, stock exchange compliance, corporate governance, tax structuring and UPREIT and DownREIT structures, among other issues. Key partner Kenneth Betts and Chicago-based real estate practice chair Andrew White are other important points of contact within the team. All lawyers mentioned are in Dallas unless otherwise specified.