Since the early 1990s, the market capitalization of REITs has increased from about $10 billion to over $1 trillion, and M&A transactions involving REITs and UPREITs have changed the corporate and real estate landscape. REITs: Mergers and Acquisitions is a new and important guide to this growing area of law.
Covering both fundamental and advanced issues, the authors discuss: structural considerations, directors' duties, documenting the deal, financing, tax considerations, friendly and hostile transactions, defensive techniques and the processes for selling or taking REITs private. REITs: Mergers and Acquisitions provides essential discussion of how the customs of corporate and real estate transactions differ and how conflicts involving letters of intent, due diligence, exclusivity periods and contingencies to the deal can be resolved.
At a time of dynamic deal activity in the REIT industry, corporate and real estate lawyers, REIT CEOs and CFOs, investment bankers, analysts, accountants and other professionals will all benefit from the strategic guidance this new book offers.
Book #00685; looseleaf, one volume, 808 pages; published in 2006, updated as needed; no additional charge for updates during your subscription. Looseleaf print subscribers receive supplements. The online edition is updated automatically. ISBN: 978-1-58852-140-8.
AuthorsAdam O. Emmerich
Mr. Emmerich practices in Wachtell Lipton's corporate department, focusing primarily on mergers and acquisitions, securities law matters, and corporate governance. His practice has included a broad and varied representation of public and private corporations and other entities in a variety of industries throughout the United States and globally, in connection with mergers and acquisitions, divestitures, spin-offs, joint ventures and financing transactions. He also has extensive experience in takeover defense. Adam is recognized as one of the 500 leading lawyers in America by Lawdragon, as one of the world’s leading lawyers in the field of Mergers and Acquisitions in the Chambers Guide to the World’s Leading Lawyers, as an expert in each of M&A, Corporate Governance and M&A in the real estate field by International Who's Who of Business Lawyers, and as an expert both in M&A and in Corporate Governance by Euromoney Institutional Investor’s Guides, in their World’s Leading Mergers and Acquisitions Lawyers and Best of the Best USA 2012 Corporate Governance.
David M. Einhorn
Mr. Einhorn is of counsel at Wachtell, Lipton, Rosen & Katz and had been partner in the Tax Department from 1982 through 2009. He focuses on the tax aspects of partnerships, bankruptcy reorganizations and mergers and acquisitions (with an emphasis on transactions involving Real Estate Investment Trusts (REITs)). Mr. Einhorn received a J.D. degree from Fordham University in 1976 and an LL.M. from New York University in 1979. He is admitted to practice in the New York State courts and in the Southern and Eastern Districts of New York, as well as the U.S. Tax Court and U.S. Court of Federal Claims.
Mr. Panovka is a partner in the Corporate Department and Co-Head of Real Estate and REIT M&A at Wachtell Lipton. He specializes in complex M&A and real estate transactions, including several of the largest REIT mergers, buyouts and restructurings completed in recent years; large-scale private equity transactions and fund formations in the U.S., Europe and Asia; and the redevelopment of the World Trade Center in Manhattan and other major projects. He is active in a wide variety of cross-border transactions across industries, with particular focus on emerging markets. Panovka has been named one of the LawDragon 500 leading lawyers in the U.S., and is consistently ranked as one of the leading REIT and real estate M&A lawyers by Chambers, Legal 500, Who's Who Legal and similar publications. He has also been featured in a number of publications for his leadership in real estate and M&A, including as an American Lawyer “Dealmaker” for his work on a transformative M&A transaction.