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REITs continue to expand and increase in ways they never have in previous decades. The rise of “non-traditional” REIT formations or conversions are being used to bring a wide variety of new asset types into the REIT space, such as farmland and infrastructure assets of all classes in the telecom, energy, storage, and many other real estate-heavy sectors.

Morrison & Foerster’s nationally recognized REIT practice has a strong bench of lawyers with extensive experience in the areas of capital markets, M&A, tax, real estate, real estate financing, investment management, and corporate governance. Whether it is an initial public offering, a complicated tax issue or a transformational M&A transaction, our multidisciplinary team collaborates across practices and geographies to seamlessly deliver a full spectrum of legal services that are thoughtful and help our clients achieve their business objectives.

We are among the most active REIT practices in the United States and represent issuers, underwriters, and other real property stakeholders in connection with transactions in various property sectors, including multifamily, lodging, office, student housing, retail, industrial/logistics, healthcare, and farmland.  We counsel and collaborate with public and private REITs (both equity REITs and mortgage REITs), REIT sponsors, contributors, investors, investment banks, valuation firms, investment advisers, specialty finance companies, and lenders on a range of REIT matters, including:

  • initial public offerings and follow-on offerings of debt and equity securities;
  • REIT asset restructuring and formation transactions;
  • mergers and acquisitions and other strategic transactions;
  • tax counseling and efficient transaction structuring;
  • UPREIT and DownREIT transactions involving the issuance of units in a REIT subsidiary to create tax efficiencies and expanded business opportunities;
  • corporate and property-level debt financing transactions and debt restructuring;
  • private placements, including PIPE transactions;
  • liability management transactions, including tender offers and exchange offers;
  • ongoing corporate and securities counseling; and
  • corporate governance and compliance matters.

Our experience, hard work, and efficiency are core principles that our REIT lawyers live by, but we know that is often not enough.  In today’s increasingly complicated business environment, clients rightfully demand lawyers who understand the unique issues facing their businesses and who will endeavor to find creative solutions, not just mitigate risk.  We build enduring relationships with our REIT clients and work collaboratively to find innovative, pragmatic solutions to address our clients’ legal needs and business objectives and guide them through their business life-cycles. 

View a NAREIT interview with partner David Slotkin.

Read a NAREIT interview with partner Thomas A. Humphreys on REIT IPOs.

REITs and Real Estate 2015 Annual Review
2015 REIT + Real Estate Annual Review

Read Frequently Asked Questions about Real Estate Investment Trusts

Quick Guide to REIT IPOs 2015
2015 Quick Guide to REIT IPOs

“…understands the law and gives very practical and useful advice.”
Chambers USA 2015 – REITs

“…very practical, sees the big picture and is extremely responsive and personable.”
Chambers USA 2014 – REITs

Read our Client Alerts