With Cleary Gottlieb by their side, our clients have shaped the skylines of major cities and urban centers across the globe.

Our real estate practice, ranked as one of the foremost in the United States, is diversified and global, encompassing the full range of transaction types, regions, and asset classes to represent clients in all facets of commercial real estate transactions.

Our clients span all sectors of the real estate industry, including commercial lenders, sources of private credit, investors, funds, sovereigns and sovereign wealth funds, developers, and operators.

For over 40 years, our lawyers have been at the forefront of developments in the constantly evolving real estate market and have helped clients navigate challenges and opportunities through practical and innovative solutions that align with their business strategy. Recognizing our clients’ diverse needs, we have shaped our practice to integrate our global resources across a multitude of disciplines, including our tax, restructuring, funds, regulatory and other global practices to provide seamless, coordinated advice.

Lender Side Financing

Our practice has vast experience in pioneering cutting-edge financing strategies for our clients. We engage in all major aspects of commercial real estate finance, including secured loans for commercial mortgage-backed securities (CMBS), mezzanine and preferred equity financings, loan syndications, construction, bridge and development loans, loan restructurings and workouts, property foreclosures and deed-in-lieu transactions, and loan-on-loan, warehousing, and repurchase facilities.

Investments, Dispositions, and Development

We have a long history of guiding our industry-leading clients in advancing their investment strategies across the globe through some of the most complex multijurisdictional transactions in our field. Our wealth of experience includes a broad range of transactions, including real estate development, borrower side financing, direct acquisitions and dispositions of real estate assets, acquisition of public and private real estate owners and operators, hybrid capital investments and capital solutions, and the formation of strategic partnerships and joint ventures to invest in real estate. We are known for our internationalism, most clearly demonstrated by our work with most of the world’s leading sovereign wealth funds and our ability to work seamlessly across our international offices.

Restructuring and Capital Solutions

By bringing together our comprehensive knowledge of financing and investment and collaborating with our firm’s leading restructuring practice, our real estate practice advises our clients across multiple disciplines and jurisdictions on their most complex and significant distressed asset, special situations, and capital solutions investments; workouts and loan restructurings; property foreclosures and deed-in-lieu transactions; and mezzanine debt transactions, as well as Chapter 11 proceedings.

Notable Experience

Investment

  • ESL Investments in the real estate aspects of its $5.2 billion acquisition of substantially all of the assets of Sears Holdings.

  • Brookfield Asset Management in its $1 billion acquisition of a 49% interest in seven multifamily and mixed-used properties in New York, California, and Hawaii, and in its formation of a joint venture with Carmel Partners.

  • Mapletree Investments in its $2.39 billion acquisition of a portfolio of 164 U.S. industrial assets from Exeter Property Group.

  • A real estate asset manager in its $2.5 billion acquisition of a publicly traded multifamily REIT.

  • An investor in a major real estate fund that acquired MPG Office Trust, making the fund the largest office landlord in downtown Los Angeles.

  • A sovereign wealth fund in crafting complex joint ventures around the world, including a $600 million platform to develop student housing and apartments across the U.S., its potential acquisition of a publicly traded multifamily REIT, and development of a first-class office in Shanghai and the development of residential properties throughout India.

  • A significant Asian sovereign wealth fund in connection with launching a joint venture platform to acquire multifamily residential properties for conversion into extended stay apartments and the fund's acquisition of office properties in Germany.

  • A private investment firm in multiple joint venture, acquisition, disposition and financing transactions totaling over $1.7 billion, including the acquisition and financing of hotels, retail and office buildings across the U.S., including properties in New York City, Chicago, Detroit, Los Angeles, and in connection with development projects in New York City and Ohio.

  • Genting in several development projects in the U.S., including a private investment to develop Resorts World Casino New York City, a resort-casino with the Mashpee Wampanoag Tribe in southeast Massachusetts and in its acquisition of 40 acres of waterfront development sites in downtown Miami, Florida.

  • A private investment firm in joint venture, acquisition and financing transactions, including investment in and financing of a 5.5 acre New York City development.

  • An international holding company in its acquisition and financing of an investment property located in New York City’s prestigious Fifth Avenue retail corridor.

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Financing

  • Goldman Sachs, as lender, in the $900 million mortgage financing of a portfolio of movie studios and associated office properties in Los Angeles, with Netflix Inc., It’s a Laugh Productions Inc. (owned by Disney Channel Worldwide), and ABC Studios as the largest tenants.

  • The arrangers in the financing of Brookfield Asset Management’s $11.4 billion acquisition of Forest City Realty Trust Inc.

  • Mapletree Investments, as borrower, in its $2.08 billion financing of a portfolio of 199 industrial properties located throughout the United States.

  • Hospitality Investors Trust, as borrower, in two simultaneous financing transactions: a mortgage and mezzanine loan package totaling $1.04 billion secured by a portfolio of 120 hotel properties, and a commitment to amend a $285 million term mortgage loan.

  • The syndicate of lenders in the mortgage and mezzanine financing of Blackstone’s multibillion-dollar acquisition of Strategic Hotels & Resorts.

  • The syndicate of lenders in the mortgage and mezzanine financing of the $2.6 billion REIT spin-off transaction of over 200 Sears stores throughout the United States and Puerto Rico.

  • The syndicate of lenders in the mortgage and mezzanine financing of GIC and Global Logistic Properties’ multibillion-dollar acquisition of IndCor Properties.

  • A Mexican bank, as lender, in numerous bridge and construction loans, financing luxury multifamily, hotel and mixed-use projects.

  • A major real estate debt fund, as lender, in numerous mezzanine and construction financings, including construction financings for major retail and mixed-use developments and condominium conversions.

  • Principal finance counsel to a major investment bank, originating over $4 billion in mortgage and mezzanine financing in the last 12 months.

  • A private equity fund, both as borrower and lender, in financings involving high-end resorts and recreation facilities.

  • Genting Group on the financing of its $3 billion Las Vegas casino and hotel development, including an EB-5 component.

  • A major investment bank in an almost $1 billion financing of a portfolio of 75 multifamily properties, the largest transaction of its kind in San Francisco to date.

  • An investment fund, as lender, in an almost half-billion dollar financing of a national portfolio of luxury hotels and in its acquisitions of subordinate tranches of CMBS debt.

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Publications

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Events

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