6-Hour Program

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Overview

Why you should attend

The REIT and commercial real estate sectors have gained significant momentum in recent years and are poised for a new phase of consolidation and M&A. Recent M&A transactions in the sector have shown the depth and growing sophistication of the market, with a number of large and very complex transactions successfully completed over the last 12 months. The industry has also seen significant activity in REIT conversions and spin-offs, the listing of non-exchange traded REITs on national securities exchanges, controlled company REIT IPOs and growing shareholder activism. At the same time, the global capital markets remain volatile and concerns about the pace of recovery and the direction of interest rates persist. This year’s program will take an in-depth look at some of the transactions, offerings and listings completed in 2013, and will explore the structures, legal frameworks and dynamics of the current environment. We will study the legal and financial strategies for successfully identifying and executing transactions, and for raising new capital, through equity offerings and other means, particularly in connection with M&A activity.

What you will learn

  • How some of the key transactions completed in 2013 were structured, negotiated and closed
  • How to reconcile the interests of the many constituencies in REIT M&A
  • How to evaluate and address SEC developments relating to the REIT capital markets
  • How to reconcile traditional non-exchange traded REITs with the many “non-exchange traded” REITs that have listed on a national securities exchange
  • How to think about and structure REIT conversions, spin-offs and OpCo/PropCo restructurings
  • How to address complex tax issues that are critical to an understanding of REIT M&A transactions and REIT conversions and spin-offs
  • How to access REIT equity markets and what to expect during the registration process
  • How to address ownership restrictions, UPREIT structures and cross-border complexities when buying or selling a REIT

Who should attend

  • REIT, real estate, corporate, and restructuring lawyers seeking to understand the new paradigms and the peculiarities and complexities of REIT and REOC M&A, conversions and spins, and controlled IPOs
  • REIT and REOC general counsel and transactional lawyers
  • Analysts, bankers, executives and other professionals who need to understand the new world of real estate

Credit Details