Kramer Levin advises public and private REITs in a broad range of matters, including formation, capital markets, mergers and acquisitions, financing, tax structuring, and real estate and joint venture transactions. Our multidisciplinary team — comprising Equity Capital Markets, Real Estate, Tax, and Banking and Finance lawyers — leverages practical experience and creativity to help clients solve problems and capitalize on opportunities.
Our REIT clients occupy a wide swath of the real estate sector, with portfolios that include gaming, hospitality, entertainment and leisure destinations as well as shopping centers, technology-related assets, and office and residential properties. We recently played the lead role in the formation of VICI Properties Inc. (NYSE: VICI) and negotiation of its master leases and debt documents, including the $2.2 billion CMBS financing of Caesars Palace Las Vegas. We subsequently represented VICI in numerous strategic and capital transactions, including its $1.1 billion purchase and leaseback of the Harrah’s Las Vegas Hotel and Casino, a $1 billion PIPE equity raise, and its $1.4 billion initial public offering — the fourth-largest REIT IPO to date.
We advise real estate owners and operators, institutional investors, and foreign investors regarding the following REIT-related activities: