Attesting to the depth and breadth of services offered by international law firm Greenberg Traurig and its ability to provide single-source legal solutions to major real estate corporations, the firm represented Starwood Capital Group in the $191 million acquisition of a real estate portfolio comprised of income-generating office and retail properties spanning multiple states. The seller was special servicer CWCapital Asset Management.
Last fall, Starwood retained Greenberg Traurig to serve as counsel in a complex 26-state, 65-property bidding process, of which this latest acquisition is a component. A total of 60 Greenberg Traurig employees in 13 offices were devoted to the Starwood bidding process. The team was led by New York Real Estate shareholder Kristen Lonergan; Robert Ivanhoe, co-chair of the firm's 200-plus lawyer Global Real Estate Practice and co-chair of the REIT group; and Stephen Rabinowitz, Co-Managing Shareholder of the firm's New York City office.
"The Starwood acquisition is a prime example of what Greenberg Traurig does best," said Lonergan. "That is, we work collaboratively as a streamlined, unified team across practice areas throughout our offices around the country to execute premium deals that enable our clients to reap significant upside benefits. Our Real Estate, Tax, Litigation, Bankruptcy and Environmental practices all contributed to our efforts on behalf of Starwood."
Greenberg Traurig's Real Estate Practice spans 40 years of delivering multidisciplinary legal services for property investment, development and management, as well as real estate finance. The group received the Award for Excellence in Real Estate from Chambers and Partners in 2013 and 2010 and was named a Real Estate Practice Group of the Year by Law360, 2010 through 2013.
"Our approach controls legal services costs and delivers results that typically could only otherwise be achieved with the nonintegrated resources of multiple law firms at a significantly higher cost, reducing the value of the transaction for the client as well as taxing the client's own internal resources to coordinate numerous fragmented parties on one transaction," said Ivanhoe. "The Greenberg Traurig approach provides value for the client and permits our attorneys across the country to work together to deliver best-in-class services for the industry's most noteworthy matters for which our firm is renowned." Tags: