Recent Transactions
The Schonbraun McCann Group (SMG) provides strategic advisory, M&A and other services for real estate transactions nationally and internationally. In the last 18 months, SMG performed such services in transactions valued at over $100 billion. Highlights of significant industry transactions in which SMG has played a role in recent years include:
- In February 2008, SMG represented Normandy Real Estate Partners in its acquisition of three office properties totaling 500,000 square feet in New Jersey.
- In January 2008, SMG represented Brickman in its acquisition of three hotels in Bermuda valued at $35.5 million.
- In December 2007, SMG represented SL Green Realty Corp. in its acquisition of two downtown New York City office buildings totaling 2.6 million square feet and valued at $1.575 billion through a joint venture with SITQ.
- In December 2007, SMG represented L&L Holding Company in its recapitalization of 150 Fifth Avenue in New York City. This transaction of the 200,000 square-foot building was valued at $155 million.
- In November 2007, SMG represented Broadway Partners in its joint venture with Investcorp to purchase 280 Park Avenue in New York City, a two tower office building totaling 1.2 million square feet and acquired for $1.280 billion.
- In November 2007, SMG represented Stonehenge Partners in their contract to acquire 360 East 65th Street; a mix-use apartment building in New York City. This 200,000 square-foot, 21-story property is the first transaction for the equity fund established under Stonehenge Fund III.
- In November 2007, SMG represented SL Green Realty Corp. in its proposed sale of 440 Ninth Avenue in New York City. This transaction of the 339,000 square-foot, 18-story office building was valued at $160 million.
- In November 2007, SMG represented Stonehenge Partners in its joint venture with INVESCO Real Estate to acquire 1619 Broadway (The Brill Building) in New York City; a 177,000 square feet mix-use office and retail tower.
- In October 2007, SMG represented Tishman Speyer in its partnership with Lehman Brothers Holdings to acquire Archstone-Smith Operating Trust, a REIT owning 290 multifamily apartment buildings throughout the country, in a transaction valued at $22 billion.
- In October 2007, SMG represented SL Green Realty Corp. in its proposed sale of 470 Park Avenue in New York City. This transaction of the 260,000 square-foot, 17-story plus penthouse office building was valued at $157 million.
- In October 2007, SMG represented DCD America Inc. to secure competitive long term financing for office property in Washington, D.C. in a transaction valued at $230 million.
- In October 2007, SMG represented Stonehenge Partners in developing Stonehenge Fund III, a $500 million real estate equity fund established to acquire office retail and residential properties, and target high-yield debt opportunities in the tri-state area.
- In 3Q 2007, SMG represented Metropolitan Real Estate Investors in their acquisitions of 885 Third Avenue (The Lipstick Building) and 292 Madison Avenue in New York City for a total value of $1 billion.
- In June 2007, SMG represented Broadway Partners in its acquisition of 450 West 33rd Street, a 1.6 million square-foot building in New York City.
- In May 2007, SMG represented Broadway Partners in its acquisition of office properties in New York City, Washington, D.C. and Los Angeles totaling 9.6 million square feet and valued at $4.78 billion.
- In April 2007, SMG represented Beacon Capital Partners in its acquisition of office properties in Seattle and Washington, D.C. totaling more than 14.7 million square feet and valued at $6.35 billion.
- In April 2007, SMG assisted New Plan Excel Realty Trust, a REIT owning 467 properties nationally, in its merger with Centro Properties Group.
- In April 2007, SMG represented Thor Equities in establishing their second urban retail fund, valued at $500 million.
- In March 2007, SMG represented Mack-Cali in its acquisition of office space at 125 Broad Street in New York City. This transaction of 524,500 square feet was valued at $273 million.
- In March 2007, SMG represented Pelham Associates in its acquisition of the Devonshire Building in London. This transaction of the 186,000 square foot property was valued at ₤280 plus million.
- In March 2007, SMG represented Callahan Capital Partners in its acquisition of a Denver office portfolio totaling more than 2 million square feet and valued at $770 million.
- In February 2007, SMG advised Equity One in a valuation of its $3.2 billion portfolio containing 225 retail properties throughout the U.S.
- In January 2007, SMG represented L&L Holdings in its sale and recapitalization of 2 Park Avenue with Morgan Stanley in a transaction valued at $565 million.
- In January 2007, SMG represented Gramercy Capital in underwriting a $231 million loan to The Kushner Companies related to their $1.8 billion acquisition of 666 Fifth Avenue in New York City.
- In January 2007, SMG represented SL Green Realty Corp. in its acquisition of Reckson Associates Realty Corp. In the transaction valued at $6 billion, SL Green acquired office buildings in New York City totaling 5.6 million square feet and in Westchester and Connecticut totaling 3.6 million square feet.
- In 2007, SMG represented Gale International/Vornado Realty Trust/Mack-Cali in their purchase of the former Filene’s HQ in downtown Boston. The transaction of 1.2 million square feet of office/retail/condominium space was valued at $100 million.
- In 2007, SMG represented Westbrook Partners in its pending sale of The Hard Rock Hotel in New York City to Walton Street Capital for $200 million.
- In 2007, SMG represented Quadra Realty Trust, Inc. in its initial public offering valued at $250 million.
- In 2007, SMG represented The Robert Martin Company in its development and conversion of the Dixon Mills condominiums on 7 acres in Jersey City.
- In 2007, SMG represented an investment fund advised by JPMorgan Asset Management in its acquisition of the Crowne Plaza hotel in Atlanta, GA valued at $64 million.
- In 2007, SMG represented Brickman in its acquisition of 2 office properties totaling 500,000 square feet in Los Angeles and Boston and valued at $162 million.
- In 2007, SMG represented an investment fund advised by JPMorgan Asset Management in its acquisition of the Emeryville Hilton Garden hotel in San Diego, CA valued at $60 million.
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