Deal value and volume in the real estate sector remained relatively stable in 2019, held steady by investments into PropTech and other technology-driven disruptors.

The REIT M&A space in the United States continued to be vibrant in 2019, maintaining the ten-year high set during 2018 for M&A activity by publicly-traded equity REITs, particularly in the hotel and logistics subsectors.

In 2019, we launched our Hogan Lovells Real Estate Horizons, a snapshot of key topics and market trends shaping the future of the real estate sector. We also published thought leadership on topics including sustainability in Europe, the changing landscape of real estate taxation, cyber-attacks and data breaches, the new U.S. Opportunity Zone program, brand protection, and real estate debt funds.

We organized our inaugural Hogan Lovells Global Real Estate Investment Conference in London; held major client events around the world, including at MIPIM, Expo Real, and NAREIT; and expanded our Hogan Lovells Real Estate Academy in Germany.

300+

Real Estate lawyers

Band 1

Commercial Property: Development
Legal 500 UK, 2019

In 2019, Hogan Lovells advised on the following
Real Estate transactions, among others:

Carey Watermark

Read more

Carey Watermark

We are advising the Special Committee of Carey Watermark Investors 1 on its all-stock merger with Carey Watermark Investors 2 to form Watermark Lodging Trust (WLT), a US$4.6bn non-traded REIT with increased scale and operating efficiencies. The transaction is expected to position WLT for long-term value creation and liquidity, including a potential public listing or IPO in the coming years. A team of lawyers in our Washington, D.C. office is leading this transaction, with support from our employee benefits, employment, real estate, and tax practices.

Industrial Property Trust

Read more

Industrial Property Trust

We advised Industrial Property Trust (IPT) on its US$3.99bn sale to Prologis. The transaction involved 236 industrial properties located in 24 cities across the United States. IPT is managed by Black Creek Group, an experienced real estate investment management and development firm. This is the second M&A transaction that the firm has advised on for public entities managed by Black Creek Group. A team of lawyers in our Washington, D.C. office led this deal, with support from our employee benefits, litigation, and tax practices.

Mapletree Investments

Read more

Mapletree Investments

We advised Mapletree Investments on its US$1.4bn acquisition of a data center portfolio in North America from Digital Realty Trust. As part of the transaction, Mapletree purchased 10 existing data centers for approximately US$557m and entered into a joint venture with Digital Realty Trust to co-invest in three additional data centers for approximately US$811m. A team of lawyers in our Washington, D.C. office led this transaction, with support from our antitrust, environment, international trade, and tax practices.

Park Hotels & Resorts

Read more

Park Hotels & Resorts

We advised Park Hotels & Resorts on its US$2.7bn acquisition of Chesapeake Lodging Trust, creating the second-largest publicly-traded lodging REIT in the United States. The merger advances Park’s strategic goals of portfolio enhancement and diversification. A team of lawyers in our Washington, D.C. office led this transaction, with support from our employee benefits, finance, regulatory, real estate, regulatory, and tax practices.

“Hogan Lovells handles a wide range of real estate work, including cross-border transactions.”

Legal 500 USA, 2019

Real Estate market statistics as published in Hogan Lovells Deal Dynamics

5%

5%

Decrease in global deal volume
(2019 vs. 2018)

0%

0%

Change in global deal value
(2019 vs. 2018)

U.S.

U.S.

Top market by global deal value
(2019)

M&A at Hogan Lovells

Welcome letter

Aerospace, Defense, and Government Services

Automotive
and Mobility

Consumer

Diversified Industrials

Energy and
Natural Resources

Financial Institutions

Insurance

Life Sciences
and Health Care

Technology, Media,
and Telecoms

Private Equity

Venture Capital and
Emerging Companies

The year ahead: 2020

Our new Corporate
partners and counsel

Our M&A events

Our M&A publications

Hogan Lovells
Deal Dynamics

Our values

M&A Year in Review

M&A Year in Review | 2019

This site uses cookies, if you continue without changing your settings, we'll assume that you are happy to receive all cookies. Click here to learn more about cookies.

Continue