Real Estate: Illinois

THE FIRM This firm has a strong focus on real estate work, with around a third of its approximately 100 lawyers dedicated to this practice area. The market-leading group has handled a great deal of restructuring work brought about by the economic downturn, and also deals with joint ventures, new property acquisitions, initial credit facilities and the implementation of loan portfolio management strategies. It recently represented Ventas in its $3.1 billion acquisition of real estate assets from Atria Senior Living Group. Other major clients include DCT Industrial Trust, Alliance Partners and Neuberger Berman Fixed Income.

Sources say: "A talented firm that punches well above its weight."

KEY INDIVIDUALS Department co-head and name partner Howard Kirschbaum focuses on commercial real estate and the formation of joint ventures. He is held in the highest regard by peers, who describe him as "very impressive."

Sources have "the highest regard" for Suzanne Bessette-Smith. She has significant expertise in REITs and was involved in handling the above-mentioned transaction on behalf of Ventas.

Howard Nagelberg co-heads the practice with Kirschbaum and is recommended for his work on REITs. He has recently provided counsel on portfolio transactions and financing arrangements for First Industrial Realty Trust, including the negotiation of a $17 million sale of a joint venture portfolio property.

Mark Beaubien is hailed by peers as "a wonderful lawyer." His practice focuses on secured financing, commercial development, and acquisitions and dispositions. He recently advised KTR Capital Partners on leasing, joint ventures, financings and the acquisition of a multistate portfolio of assets.

Name partner Dennis Ferrazzano is very highly regarded by peers, and has a wealth of experience in real estate matters related to retail and industrial sites and office facilities. He served as primary real estate counsel for LVMH and related entities in the redevelopment of commercial property in New York City.

THE FIRM This 30-strong team offers outstanding counsel on the full range of real estate matters, handling planning and zoning, tax-efficient structuring, PPPs, development and construction matters. It recently represented a number of life insurance companies in financing matters, and also handled significant new credit facilities on behalf of major banks.

KEY INDIVIDUALS Chicago-based Patrick Moran is "one of the top lawyers in the city." He handles a wide variety of commercial and institutional real estate and related financing matters, with a special emphasis on development, leasing, joint ventures and nontraditional financing. Peers describe him as "very knowledgeable and a pleasure to work with.”

"Crackerjack lawyer" Eric Schiller focuses on financings, joint ventures, acquisition, sales and workouts. He draws warm praise from peers, with one describing him as "active and excellent."

"Very fine lawyer" Mark Mehlman has a broad-based practice that includes real estate financing, hospitality and hotel transactions, troubled loan workouts and real estate acquisitions and dispositions.

Steven Davidson is held in particularly high regard by peers for his work on behalf of lenders. His finance-oriented practice has seen him undertake work involving office buildings, apartment complexes, retail centers and hotels.

Jana Cohen Barbe has a wealth of experience in advising banks in connection with community development and affordable housing investments. "I have always been impressed by her abilities to manage the volume of work that she does, without losing a bit of quality," said one client, adding: "Her memory and knowledge are equally vast."

Linda White is highly recommended for her work on financings, acquisitions, dispositions, leasing and telecommunications matters.

Practice leader Robert Fernandez has extensive experience in the areas of acquisitions and dispositions, real estate finance, workouts, leasing and development matters.

THE FIRM This international legal giant has a significant and well-respected real estate practice in its Chicago office. The 58-strong team covers a broad range of matters, including transactions, capital markets, finance, zoning and land use, leasing and development. The group recently advised Equity Capital Management on the $544 million sale of 33 properties in 17 states to Realty Income, a publicly traded REIT. It also represented The Related Company in its acquisition of the stalled Waterview Tower project, a transaction worth $26 million. 

Sources say: "Rock-solid – their depth can't be matched."

KEY INDIVIDUALS "Terrific business lawyer" James Beard has an outstanding reputation for his broad-based real estate practice. He recently represented a unit of Inland American Real Estate Trust in the structuring of a joint venture.

Richard Klawiter chairs the firm's Chicago office real estate practice, and is highly recommended for his work on zoning and land use. Sources describe him as "terrific" and someone they "love to deal with."

Theodore Novak is another zoning and land use expert, and draws praise as being "very talented – a leading light in zoning and a top lawyer."

David Reifman focuses on land use and zoning, with particular expertise in obtaining development, annexation, subdivision and zoning approval for the full range of real estate development projects.

David Glickstein has a varied practice covering leasing, joint ventures, financing, acquisitions and developments. He continues to advise a number of the firm's longstanding clients.

Senior counsel Charles Edwards focuses on complex commercial real estate matters. Sources highlight the depth of his experience and the respect with which he is held in the market.

Of counsel Portia Owen Morrison brings a wealth of experience to the group and is particularly adept at handling real estate finance and investment matters.

THE FIRM This Chicago-headquartered firm has an impressive 40-strong team that handles the full gamut of real estate transactional and dispute work. Its outstanding attorneys cover matters such as leasing, workouts, financing and litigation, for a prestigious client roster that includes high-profile companies such as Merrill Lynch, GE Capital and iStar Financial. Major work includes representing FrankMon in its sale of the Hyatt Center to Irvine Companies. Despite recently losing well-regarded attorneys Andrew Small and Rachel Brown to Kirkland & Ellis, the team maintains a reputation for excellence.

Sources say: "Extremely pragmatic and practical advice. A deep bench of attorneys with strong market intelligence in many different areas."

KEY INDIVIDUALS Alvin Katz is highly praised by peers and viewed as an important addition to the firm, having joined from Mayer Brown in 2010. Of late his practice has focused on representing clients who provide equity capital for real estate transactions.

Mark Simon has more than 30 years' experience in representing a wide range of real estate clients, including pension fund advisers, development companies and lending institutions. Sources praise his work on financings and applaud him as being "very knowledgeable."

The firm's national real estate chair, David Bryant, focuses on commercial real estate law. He has over 25 years of experience in acquisitions, investments and dispositions in real estate assets, finance and development. Peers praise him as knowledgeable and easy to work with, and highlight his excellent client service.

David Dlugie is lauded by clients for his "exceptional" representation of their interests. He cochairs the firm's Chicago-based real estate team and has a wealth of experience in dispositions and acquisitions of mortgage loan pools, workouts, modifications and management of distressed assets.

THE FIRM This international heavyweight has 28 lawyers dedicated to real estate in its Chicago headquarters. The team is held in particularly high regard for its work on lending and finance, and also offers strong counsel on bankruptcy and workouts generated by the global financial crisis. It recently represented Wells Fargo's Special Situations Group as lender in a major multitranche restructuring of more than $1.5 billion in debt on 28 hotel properties across the USA. Other major clients of the group include Starwood Capital Group and JER Investors Trust.

Sources say: "An excellent practice for major transactions."

KEY INDIVIDUALS Anthony Aiello is "a pleasure to work with and very strong in leasing matters," sources reveal. He specializes in workouts and restructurings, leasings, acquisitions and dispositions.

Charles Schrank's practice focuses on structured finance, workouts and restructurings, acquisitions and dispositions. Peers applaud him as "smart and capable," and highlight his strength in real estate financing.

THE FIRM This vibrant group draws praise from peers for its strength on bankruptcy and matters involving distressed properties. It also offers counsel on joint ventures, restructurings, acquisitions, dispositions and entity structuring. The team is particularly well placed to handle large multijurisdictional real estate transactions. Highlights include advising Kimco Realty on a range of individual transactions relating to the negotiation and closing of mortgage loans secured by shopping center properties. 

Sources say: "The team is outstanding."

KEY INDIVIDUALS Michael Fishman is cochair of the firm's real estate practice group and is highlighted by sources as a member of the next generation of real estate stars. His practice centers around acquisitions, dispositions, joint ventures and finance.

Global real estate practice cochair Corey Light brings nearly 30 years of national and international market experience to the table. He is an expert on real estate transactions and development, and draws particular praise for his work on retail matters. He handled the above-mentioned matter for Kimco Realty.

Milos Markovic is "knowledgeable, responsive, experienced and reliable," and is singled out by peers as a rising young star in the market. His practice focuses on REITs, restructurings, workouts and joint ventures.

THE FIRM Kirkland & Ellis rises in the rankings, having in the last year added a number of impressive attorneys to its already solid real estate bench. The group handles a wide range of domestic and international transactions, including real estate private equity fund formations, leasing and the formation, qualification and transaction structuring of REITs. Recent highlights include advising Innkeepers USA Trust on its Chapter 11 reorganization, involving approximately $1.4 billion in debt obligations.

Sources say: "Outstanding in representing the needs of their clients."

KEY INDIVIDUALS Sources agree that Daniel Perlman's recent move to the firm from Paul Hastings has strengthened its real estate department. He has extensive experience in advising pension funds, national developers, REITs and hedge funds on real estate funds and venture formation, loan workouts and sales and purchases of distressed loans.

Andrew Small specializes in commercial real estate related to distressed debt transactions, real estate private equity and the formation of joint ventures. Peers describe him as a "big business originator." He recently joined the firm from Katten Muchin, along with Rachel Brown, and peers agree that these additions will significantly strengthen the team. Brown brings a wealth of experience in finance, acquisitions, commercial development and venture formation to her new firm.

Brian Davis covers the full range of real estate work, counseling clients on the structuring of joint ventures for the acquisition and development of industrial, retail, hotel, office and multifamily properties.

THE FIRM Levenfeld Pearlstein's 19-strong real estate and finance group is particularly well known for its work on real estate disputes and litigation, and also offers solid transactional counsel to sellers, buyers, property managers and developers. It is able to draw on the expertise of the wider firm's risk management, environmental, and banking and finance groups to provide its real estate clients with a seamless and multifaceted service.

Sources say: "They handle sophisticated work, represent their clients well and are always a pleasure to deal with."

KEY INDIVIDUALS David Berzon has an extensive background in the areas of commercial real estate sales, acquisitions, development, and debt and equity financing. One enthused client reports: "He's just gone above and beyond what would be reasonably asked for to help us." 

Practice chair Brian Kozminski has a national practice, representing developers and owners of office, senior housing, hotel, retail and industrial properties. "His strengths are his quick response and turnaround times, quality drafting and solid negotiating skills," report clients.

Tom Jaros focuses much of his time on representing clients in sophisticated mortgage financing projects, as well as acquisitions, dispositions and workouts across the country. Clients reveal: "We love working with him. Fantastic service, great advice, and he could not be more responsive. He sets the bar high for other firms."

THE FIRM This group handles a range of real estate matters, including the acquisition, development and management of asset classes such as multifamily, retail, healthcare, hospitality and industrial properties. It also covers financings, workouts and restructurings, and earns particular market praise for its work on fund formation. The team is also singled out by observers for the high quality of its client service. It recently represented Starwood Capital Group Global as part of a joint venture in the $286.5 million acquisition of a portfolio of seven multifamily apartment complexes in Virginia and Maryland.

Sources say: "Its attorneys are among the brightest out there and have great experience in complex real estate matters."

KEY INDIVIDUALS "Straight shooter" Ivan Kane's practice focuses on real estate acquisition, financing and development. He is also an expert on zoning and land use law. "He is a terrific part of the team and has been very important to our success," enthused one client.

John Gearen has a vast amount of experience and focuses on representing commercial banks, pension funds and insurance companies in acquisitions, financing and construction. Peers describe him as "incredibly smart. He has a wonderful manner and is tough and forceful without being combative."

Paul Meyer "is a consummate professional who is always prepared and never leaves any stone unturned,” enthused one client, adding that "he is as technically sound as they come and is extremely thorough."

Department head Jeffrey Usow works with a range of parties on joint ventures, asset management, acquisitions and dispositions. He has particular expertise in cross-border transactions.

THE FIRM Dykema Gossett's real estate team is held in particularly high regard for its work on commercial real estate transactions, representing a range of clients including lenders, developers, local government units and architects. Expertise on land use and zoning, real estate disputes, loan workouts and foreclosures, and property management further rounds out the practice. Notable clients include NewMark Merrill, Invesco Real Estate and The John Buck Company.

Sources say: "A standout firm for real estate transactional work."

KEY INDIVIDUALS Michael Kurtzon is highly recommended for work on loan workouts and restructurings, as well as residential commercial development projects.

THE FIRM Clients applaud this real estate team for its high level of client service and excellent knowledge of the market. The eight-member group handles acquisitions, dispositions, developments and financing for a prestigious client list, which includes Fifth Third Bank, JPMorgan Chase, NXT Capital and The Prescott Group. It recently advised WHI Real Estate Partners on financing matters associated with the conversion of a mixed-use condominium.

Sources say: "The firm has provided us with a tremendous amount of assistance, and has been a real partner to us."

KEY INDIVIDUALS The "very talented" James Rosenbloom brings a wealth of experience to the table, having worked across real estate, bankruptcy matters and commercial finance during a 40-year career. He focuses on representing institutions and investors in financing matters associated with real estate acquisitions, refinancings and restructurings.

THE FIRM Holland & Knight's real estate team is lauded by market sources for its work on land use and zoning matters on behalf of municipal entities. Clients are particularly quick to commend the quality of its work product in this specialized area. The 18-partner team has also recently been active in dealing with distressed loans and workouts created by the economic downturn. Its impressive client roster includes Black Rock Realty Advisors, Illinois Department of Transportation and Capri Capital Partners.

Sources say: "They are highly qualified and professional, and good trouble shooters."

KEY INDIVIDUALS Real estate group leader Peter Friedman handles a range of transactional work but is particularly noted for his strength in zoning and land use work on behalf of state and local government entities. He "is extremely responsive and picks up the phone every time we call. He also solves our problem every time," enthused one client.

Victor Filippini focuses on land use, development, and state and local government law. "He is superb; smart and easy to work with," say peers.

Well-respected land use lawyer Steven Elrod joins this year's rankings having earned widespread praise for his creativity, responsiveness and expertise. He is the chairman of the firm's national land use and government team.

THE FIRM This firm's compact yet nimble real estate practice advises real estate owners, developers, operators and lenders across the country on the full range of transactional matters. Observers also note its strength in matters involving troubled assets. Highlights include advising a major pension trust adviser on construction financing matters for a new condominium development, and representing GM in matters related to a new secured revolving line of credit. 

KEY INDIVIDUALS Donald Resnick is chair of the firm's real estate practice and cochair of its real estate securities practice. He concentrates on transactional, financial and development work, and is highly regarded and respected by peers.

THE FIRM This international firm has a nine-member real estate practice in Chicago that handles a wide range of matters for prestigious clients such as CB Richard Ellis Investors, Navistar and Wells Fargo. Its expertise covers transactional work including sales and acquisitions, fund formation and finance, and the team also offers solid counsel on distressed assets and workouts. Major recent work includes advising R.R. Donnelly & Sons on its acquisition of a five-story building in Warrenville.

Sources say: "The team's strengths are its knowledge and responsiveness."

KEY INDIVIDUALS Robert Lee cochairs the firm's real estate practice and leads its real estate private equity funds practice. He focuses on real estate private equity transactions, cross-border real estate investments, workouts and real estate private equity fund formations. Clients applaud his skillful handling of international and cross-border work.

THE FIRM The Chicago-based real estate practice at this global firm has been particularly active in workouts and restructuring matters over the past year. It also handles a substantial amount of lending work. Expertise on land use, distressed real estate and cross-border real estate matters further rounds out the practice.

KEY INDIVIDUALS Thomas Homburger is highly recommended for work on real estate development, financing and investment. Sources note that he brings a wealth of experience to the table.

THE FIRM This firm's ten-member real estate group works on a range of matters for REITs, local and national corporations, financial institutions and management companies. The firm also has four lawyers dedicated to commercial leasing, and a further four working solely on real estate tax issues. Market observers hold the firm in particularly high regard for its dedicated client service.  

Sources say: "Outstanding representation of the needs of its clients."

KEY INDIVIDUALS Practice head Douglas Lubelchek represents developers, REITs and private real estate companies in a wide variety of real estate transactions. One impressed client reveals: "He has a firm grasp of market deal terms and can quickly reach a reasonable compromise on complicated issues. He has a knack for making the client's job easy by tackling and resolving the hard issues himself."

Stephen Berger represents individuals and companies in the acquisition, development and financing of commercial, apartment, hotel and resort properties. He recently advised a major client on transactional matters associated with the development and management of small, boutique-style hotels in the Los Angeles area. 

THE FIRM This firm has a 46-strong national real estate practice, with 15 dedicated attorneys based in Chicago. The team handles a wide variety of real estate matters, including commercial finance, workouts, infrastructure investment and development, and renewable energy. In recent highlights the team represented three lenders, including John Hancock Life Insurance, in the mortgage loan financing of 35 parking garage and surface lot facilities. Other major clients include MillerCoors and Walgreens.

Sources say: "Very professional, competent and responsive."

KEY INDIVIDUALS National real estate practice group chair Peter Sarasek focuses on commercial real estate finance, sales, acquisitions and leasing. Peers describe him as "an outstanding lawyer who combines an even temperament with sophisticated practice."

Ted Yi handles commercial lease transactions on behalf of owners and users of industrial, retail and office properties. Sources applaud him as "a very smart lawyer."

Since publication, Robert Messerly has joined the firm from SNR Denton. His wide practice covers large portfolio acquisitions and dispositions, equity investments, leasing, and real estate finance.  

THE FIRM This 19-strong team's work ranges from advising big-box retailers on their development, ownership and leading, to representing major domestic and international investors in commercial real estate transactions across the USA. Peers are particularly impressed with the team's work on behalf of major developers. It continues to serve as outside real estate lending counsel to The PrivateBank Trust Company; other major clients include Hamilton Partners, Monroe Investment Partners, Republic Bank of Chicago and The Northern Trust Company.

Sources say: "They are able to merge both business and legal viewpoints on our projects to help us solve complex problems. Their level of communication, response time and availability are major strengths."

KEY INDIVIDUALS Department head Joel Rubin is an extremely well regarded attorney in the market. His exceptional intellect is held in high regard by peers, who also applaud his work on behalf of pension funds and institutional investors. He has in the last year handled a major transaction involving multiple retail centers.

The "smart and focused" Alvin Kruse concentrates his practice on lending, workouts and foreclosures, and is viewed as a go-to lawyer for banks.

THE FIRM This firm draws widespread praise for its exceptional strength in zoning matters, and for its impressive and helpful connections with government officials. It offers skilled counsel, both nationally and in the Chicago metropolitan area, on the full range of real estate transactional matters. 

Sources say: "A very well-connected firm."

KEY INDIVIDUALS Exceptional attorney Edward Kus is a former Zoning Administrator of the City of Chicago, and is widely held as one of the leading zoning experts in the state. 

Anthony Licata is highlighted by sources as a "bright, quick and impressive" lawyer. He is highlighted by peers as one of only a few lawyers adept at handling zoning and land use matters in the city of Chicago and its suburbs.

Partner emeritus Jack Guthman is revered by peers, who describe him as "the dean of zoning and land use."

THE FIRM This firm enters the rankings, having significantly boosted its real practice group with the additions of Gary Axelrod and Robert Buday from Kirkland & Ellis in early 2011. The group handles real estate joint venture formations and investments, and real estate operating company acquisitions, dispositions and investments, among other matters. Recent highlights include advising American Residential Communities on the restructuring of its $1.6 billion financing facility secured by 245 manufactured housing communities.

Sources say: "They have very high-caliber attorneys."

KEY INDIVIDUALS Robert Buday and Gary Axelrod recently joined the firm from Kirkland & Ellis. Buday recently represented CenterPoint in connection with the formation of a joint venture for the acquisition and development of a $750 million industrial facility for the National Nuclear Security Administration. This matter involved the sale of common and preferred equity interests in the venture. Axelrod is described by clients as "one of the best transactional real estate attorneys in Chicago. He understands what is important and has a great ability to get deals done."

THE FIRM This firm's nine-attorney real estate group works on sophisticated real estate acquisitions, dispositions and financing transactions, as well as joint venture and hospitality matters. it recently advised Six Flags on all aspects of its bankruptcy filing, including DIP financing and its subsequent exit from bankruptcy.

KEY INDIVIDUALS Gregory Spitzer is lauded for his impressive work on behalf of private equity clients. He recently advised Equity LifeStyle Properties on matters associated with the company entering into purchase and associated agreements with affiliates of Hometown America.

THE FIRM This firm has 12 Chicago-based lawyers dedicated to real estate and land use. The group handles all aspects of the financing, acquisition, development, disposition and leasing of major projects for REITs, private equity funds and corporations. It also assists clients with restructuring and workouts. Market observers highlight the team's strength in the hospitality sector.  

Sources say: "Their strength is that they can think like their clients. I feel that they have our best interests in mind."

KEY INDIVIDUALS Alex Cole is a key contact in Chicago. She is ranked in the area of construction.  

THE FIRM This legal giant has a ten-strong real estate group in its Chicago office. The team provides real estate support to an illustrious corporate clientele, including advising borrowers and lenders on mortgage and mezzanine loan foreclosures and enforcements, as well as workouts and restructurings. It recently advised Nokia Siemens on the transfer and transition of a portfolio of worldwide real estate assets during its $1.2 billion acquisition of Motorola's wireless network infrastructure assets.

Sources say: "A great firm that understand complex transactions."

KEY INDIVIDUALS Group head Nancy Olson has a practice that covers financings, partnerships and joint venture formations. She counsels a variety of clients on secured and unsecured loans, lines of credit and construction loan facilities. "Client satisfaction is high on her agenda and her turnaround time is great,” sources say.

Sheli Rosenberg joined the firm as of counsel in May 2011, bringing a phenomenal amount of experience to the table from her long career in commercial real estate. One peer enthuses: "She is outstanding in every respect. Getting her is a huge step up for Skadden."

THE FIRM Winston & Strawn's real estate practice assists purchasers, sellers, borrowers and lenders with a range of transactional matters associated with commercial, industrial and multifamily properties. Real estate bankruptcy and workout issues are also skillfully handled by the team. Major clients include EDT Fund, Ashley Capital and McShane Companies.

KEY INDIVIDUALS Christopher Murtaugh's practice focuses on commercial property investment and disposition, real estate development and lending activities. He recently represented Alere Property Group and ML Realty Partners.

Mark Henning is co-leader of the team's real estate practice in Chicago and handles all aspects of commercial real estate transactions. His clients include property investment companies, national banks, publicly owned companies and institutional investors.