Capabilities by Industry: Real Estate, Gaming & Lodging
Greenhill has considerable transaction experience and a global network of corporate relationships in the Real Estate, Gaming & Lodging sector. Our Managing Directors and professionals in North America, the United Kingdom, Continental Europe, Australia, Brazil and Japan have executed many of the most significant and complex transactions for some of the leading companies in the industry.
Our experience in the Real Estate industry encompasses the following sub-sectors: casino operators; equipment suppliers; lodging, leisure and timeshare; real estate operating companies; and REITs.
Below we highlight a few of the transactions on which we have advised in this area:
General Growth Properties Inc.
Advised the 2006 Credit Facility Lenders, the largest class of unsecured debt with claims in excess of $2.8 billion, in connection with the Chapter 11 proceedings of mall REIT GGP, which resulted in cash payoff of the facilities in full
Advised selected Second Lien Noteholders, including Canyon Capital Advisors, Mason Capital, Paulson & Co. and Soros Fund Management regarding Caesars Entertainment Operating Company’s Chapter 11 proceedings
Archstone Enterprise LP
Advised AvalonBay on its joint acquisition with Equity Residential of the assets and liabilities of Archstone Enterprise LP, an owner of high-quality apartment communities in major markets in the United States, from Lehman Brothers Holdings
TUI Travel Plc
Advised TUI AG on the merger with TUI Travel Plc creating the world’s number one integrated leisure tourism business (+Transaction value represents enterprise value of combined entity)
Crescent Real Estate Equities Company
Advised Crescent Real Estate Equities Company, a REIT holding a diversified portfolio of office properties, hotels and resorts and luxury residential developments on its sale to Morgan Stanley Real Estate
Reckson Associates Realty Corporation
Advised the independent directors of Reckson, a real estate investment trust specializing in properties located in New York City and the surrounding Tri-State area, on the sale of Reckson to SL Green
Gala Coral Limited
Advised Ladbrokes plc, a leading UK betting and gaming company, on the recommended all-share merger with certain businesses of Gala Coral Limited, including Coral Retail, Eurobet Retail and Gala Coral Online
Ladbrokes Coral Group PLC
Advised Ladbrokes Coral Group PLC, a leading multi-channel sports betting and gaming company, on a recommended offer from GVC Holdings PLC, a multi-national online sports betting and gaming company
Brookfield Canada Office Properties
Advised the Special Committee of Brookfield Canada Office Properties, Canada’s pre-eminent office real estate investment trust, on its go private transaction with Brookfield Property Partners L.P.
Telecity Group plc
Advised Telecity Group plc, Europe’s leading provider of premium carrier-neutral data centres, on a recommended cash and share offer from Equinix, Inc. a leading U.S. provider of colocation data centre services globally
LNR Property Corporation
Advised the Special Committee of the Board of Directors and the Board of Directors of LNR Property Corporation, one of the US’ leading real estate investment, finance and management companies, on its sale to Cerberus Capital Management, L.P. and its real estate affiliate, Blackacre Institutional Capital Management, LLC
American Financial Realty Trust
Advised American Financial Realty Trust, a real estate investment trust that acquires properties from and leases properties to regulated financial institutions, on its sale to Gramercy Capital Corp., a commercial real estate specialty finance company
Pure Industrial Real Estate Trust
Advised the Special Committee of the Board of Trustees of Pure Industrial Real Estate Trust ("PIRET"), the largest pure-play industrial REIT in Canada, regarding the acquisition of PIRET by Blackstone Property Partners
Slough Estates USA (subsidiary of Slough Estates plc)
Provided oversight of the process and an informal second opinion to the senior management of Slough Estates plc
TriNet Corporate Realty Trust, Inc.
Advised TriNet on a stock for stock merger with Starwood Financial, creating a leading player in the specialty real estate finance area
PGM Holdings K.K. (majority owned by Lone Star Funds)
Advised Heiwa Corporation, a leading provider of pachinko amusement machines, on the tender offer to acquire 80.5% of PGM Holdings K.K., one of the largest golf club owners and operators in Japan, including 64.2% Lone Star Funds’ holding
Advised Minerva plc, a property investment and development company, on a recommended offer from a consortium consisting of AREA Property Partners and Delancey Real Estate Asset Management
The Miller Group
Advised The Miller Group, the UK’s largest private homebuilder, on the recapitalization of its balance sheet comprising a substantial new equity capital raising and a significant debt for equity swap
Whistler Blackcomb Holdings Inc.
Advised Whistler Blackcomb Holdings Inc., a 75% owner and operator of the largest and most visited mountain resort in North America, on its sale to Vail Resorts, Inc.
Peninsula Gaming, LLC
Advised Boyd Gaming Corporation, a leading gaming operator in Nevada, the Midwest and South, on the acquisition of Peninsula Gaming, a casino operator of five properties in Kansas, Iowa and Louisiana
Advised CatchMark Timber Trust, Inc. on its purchase of 1.1 million acres of East Texas timberlands from Campbell Global
Regal Cinemas, Inc.
Advised Regal Cinemas, the largest theatre chain in the United States, on its prepackaged bankruptcy plan and acquisition by The Anschutz Corporation
Berkshire Realty Company, Inc.
Advised investor group led by Berkshire Realty Chairman, Goldman Sachs and The Blackstone Group on the buyout of Berkshire Realty, a multi-family REIT that owns 82 apartment communities located in Florida, Texas and the Mid-Atlantic and Southeastern U.S.
80 Collins Precinct
Advised Dexus in relation to its acquisition of the 80 Collins precinct from QIC Global Real Estate
T5 Data Centers Strategic Partnership
Advised T5 Data Centers, a leading national data center owner and operator, on the creation of a fully integrated platform with QuadReal Property Group to develop, acquire and operate data centers via a $1.0 billion investment from QuadReal