Alice L. Connaughton

Partner | Washington, D.C.

aconnaughton@mofo.com | (202) 887-1567 aconnaughton@mofo.com
(202) 887-1567

Alice Connaughton is a partner in Morrison Foerster’s REIT and Corporate Finance | Capital Markets practice. Ali’s practice focuses on representing public and private companies, including real estate investment trusts (REITs) and other direct participation programs, in a variety of corporate and securities matters, including, among other things, public and private securities offerings and tender offers.

Ali regularly advises boards of directors, audit committees, and management with respect to strategic matters and corporate governance issues. Ali also routinely counsels public company clients with respect to complex regulatory matters, compliance with federal and state securities laws, corporate governance and general corporate matters.

She has represented several of the leading sponsors of public, non-listed REITs in connection with more than $35 billion in public offerings.

Ali has been recommended as a leading lawyer in Chambers USA for REITs since 2014. She is also a member of the board of directors of the Institute for Portfolio Alternatives (IPA). The IPA provides national leadership for the portfolio diversifying investments industry, which includes non-listed REITs, BDCs, interval funds, closed-end funds and DSTs/1031 exchanges. Ali’s commitment to the REIT industry allows her to be completely dialed-in to regulatory developments and emerging trends, making her a trusted advisor to clients and a frequent speaker on topics impacting the industry.

Representative Experience

  • Represented Black Creek Industrial REIT IV Inc. in connection with its initial public offering of up to $2.0 billion of common stock, its second public offering of of up to $2.0 billion of common stock and its third public offering of up to $5.0 billion of common stock.
  • Represented Hines Global Income Trust, Inc. in connection with its initial public offering of up to $2.5 billion of common stock, its second public offering of of up to $2.5 billion of common stock and its third public offering of up to $2.5 billion of common stock.
  • Represented Industrial Property Trust Inc. in connection with its capital raise of approximately $1.8 billion through its initial public offering.
  • Represented Hines Global REIT, Inc. in connection with its capital raise of approximately $3.1 billion through its initial public offering and its follow-on public offering.
  • Represented Industrial Income Trust Inc. in connection with its capital raise of approximately $2.2 billion through its initial public offering and its follow-on public offering.
  • Represented Hines Real Estate Investment Trust, Inc. in connection with its capital raise of approximately $2.7 billion through its public offerings.
  • Represented numerous REITs in connection with initial and follow-on public offerings and tender offers.
  • Represented numerous public entities in connection with ongoing corporate governance, securities compliance, and other matters.
  • Assisted several public entities with special proxy solicitations in connection with restructuring, sales of assets, and affiliated transactions.
  • Represented public entities in connection with corporate and regulatory matters before the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and state securities regulators.
  • Represented Hines Real Estate Investment Trust, Inc. in the sale of its west coast office property portfolio to an affiliate of Blackstone Real Estate Partners VIII for $1.16 billion.
  • Represented CNL Retirement Properties, Inc. in its acquisition for $5.3 billion (including assumption of debt) by Health Care Property Investors, Inc.
  • Represented CNL Hotels & Resorts in connection with its sale to Morgan Stanley Real Estate Fund.
  • Represented CNL Hotels & Resorts in connection with its acquisition of its external advisor, CNL Hospitality Corp.
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Experience

  • Represented Hines Global Income Trust, Inc. in connection with its initial public offering of up to $2.5 billion of common stock and its follow-on public offering of up to $2.5 billion of common stock.

  • Represented Black Creek Industrial REIT IV Inc. in connection with its initial public offering of up to $2.0 billion of common stock and its follow-on public offering of up to $2.0 billion of common stock.

  • Represented Industrial Property Trust Inc. in connection with its capital raise of approximately $1.8 billion through its initial public offering of common stock.

  • Represented Hines Global REIT, Inc. in connection with its capital raise of approximately $3.1 billion through its initial public offering and its follow-on public offering of common stock.

  • Represented Hines Real Estate Investment Trust, Inc. in connection with its $1.2 billion sale of a portfolio of office properties to an affiliate of Blackstone Real Estate Partners VIII L.P.

  • Represented Industrial Income Trust Inc. in connection with its capital raise of approximately $2.2 billion through its initial public offering and its follow-on public offering.

  • Represented NorthStar/RXR New York Metro Real Estate, Inc. in connection with its initial public offering of up to $2.0 billion of common stock.

  • Represented Hines Real Estate Investment Trust, Inc. in connection with its capital raise of approximately $2.4 billion through its two follow-on public offerings of common stock.

  • Represented NorthStar Real Estate Income II, Inc. in connection with its capital raise of approximately $1.1 billion of common stock.

  • Represented TriLinc Global Impact Fund, LLC, a company that makes impact investments in small and medium enterprises which have less than 500 employees, primarily in developing economies that provide the opportunity to achieve both competitive financial returns and positive measurable impact, in connection with its initial public offering and subsequent private offerings, resulting in proceeds of approximately $450 million.

  • Represented CNL Hotels & Resorts, Inc. in connection with its $6.6 billion sale to Morgan Stanley Real Estate.

  • Represented CNL Retirement Properties, Inc. in connection with its $5.2 billion sale to Health Care Property Investors, Inc.

  • Represented CNL Lifestyle Properties, Inc. in connection with its capital raise of more than $500 million through its initial public offering.

  • Represented CNL Hotels & Resorts, Inc. in connection with multiple follow-on public offerings, resulting in proceeds in excess of $3.0 billion.

  • Represented CNL Retirement Properties, Inc. in connection with multiple follow-on public offerings, resulting in proceeds in excess of $2.5 billion.

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