REITs

As a Real Estate Investment Trust (REIT), you handle the challenges associated with market competition, negotiating property purchases, and pricing your capital raising. Working together as part of your team, we can advise you on the tax structuring, the preparation and review of your filings with the Securities and Exchange Commission (SEC), and assess how best to structure your partnership agreements and acquisitions.

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REITs are vastly different from corporations and partnerships when it comes to their structure and tax requirements. We understand that these complex vehicles require advisors who have extensive corporate, tax, and real estate experience to maximize the benefits of operating as a REIT; tax knowledge and experience are especially critical.

We advise on securities law and corporate governance matters, which are essential to initial public offerings (IPOs) and capital raising strategies. Leveraging our market-leading real estate practice, we offer comprehensive support to REITs on property-level transactions, delivering seamless, end-to-end service across the entire asset lifecycle. Because we are a full-service law firm, we can also handle the issues that arise related to employee benefits and potential litigation.

From the largest, most transformative and complex deals, to the straightforward, we have been actively involved in every aspect of the industry for more than 30 years. We have developed many of the legal structures that have made REITs a success in the United States (U.S.) and across the globe.

Already serving as primary corporate and tax counsel to more than 30 REITs and all the major investment banks that are active in the industry, we can navigate and even anticipate your REIT-related legal issues worldwide.

Capital Markets

SEC Advisory and Corporate Governance

Tax

Real Estate

We are recognized national and international leaders in REIT M&A and joint venture transactions, having led some of the largest and most complex deals in the industry.

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We routinely represent REITs on various types of equity offerings, including IPOs, preferred stock offerings, at-the-market programs, bond offerings (including investment-grade, high-yield, and convertible bonds), and environmental, social, and governance (ESG) financings.

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We advise public REITs on all aspects of securities law compliance, stock exchange listing standards, and corporate governance, as well as on crisis management and strategic matters.

We advise REITs on the full spectrum of tax matters, including REIT qualification and compliance, transaction structuring, and day-to-day operational issues.

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We advise REITs and other real estate companies in virtually every aspect of real estate law, including investments, acquisitions and dispositions, joint ventures, financing and refinancings, development and redevelopment, property and portfolio management, commercial leasing, and land use and zoning.

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Hear from our clients and industry leaders

Hogan Lovells is the go-to firm for REIT-related matters.

Chambers USA 2025, REITs (client quote)

Hogan's REIT team has decades of experience, which provides the deepest foundation from which to guide new and incumbent REITs. They are practical, efficient and easy to work with.

Chambers USA 2025, REITs (client quote)

Hogan Lovells has a sophisticated practice and a great team. The group is client-focused, results-driven and offers practical advice.

Chambers USA 2024, REITs (client quote)

Hogan’s REIT practice has more experience representing REITs in the full life cycle of the REIT – from cradle to grave – than any other practice in the country.

Legal 500 US 2023, REITs (client quote)

Hogan Lovells is a great team that has its pulse on the market and market trends. They are very resolution and commercial oriented.

Chambers USA 2023, REITs (client quote)

Key contacts

David W. Bonser

Partner

David W. Bonser

Partner

Washington, D.C.

Cristina Arumi

Partner

Cristina Arumi

Partner

Washington, D.C.

Michael E. McTiernan

Partner

Michael E. McTiernan

Partner

Washington, D.C.

Elliot Weston

Partner

Elliot Weston

Partner

London

Meet the REITs team

Representative experience

Duke Realty on multiple transactions, including its US$23bn combination with Prologis and US$2.8bn sale of its medical office portfolio to Healthcare Trust of America.

American Homes 4 Rent on multiple debt and equity offerings, and on its at-the-market program.

Welltower on multiple transactions, including day-to-day tax planning and tax structuring of countless transactions.

Kite Realty Group Trust on a joint venture with GIC Private Limited for the US$785m acquisition of Legacy West, a premier open-air mixed-use destination located in Plano, Texas.

Brixmor Properties on multiple debt and equity offerings and on its at-the-market program.

Franklin BSP Realty Trust on its merger with Capstead Mortgage, creating a combined company with total assets of US$11.3bn.

QTS Realty on, among other matters, the tax structuring of its acquisition by affiliates of Blackstone in an all-cash transaction with a transaction value of approximately US$10bn.

MGM Growth Properties on its US$4.6bn joint venture with BlackStone Real Estate Income Trust and MGM Resorts International to acquire the Las Vegas real estate assets of MGM Grand and Mandalay Bay.

Kite Realty Group Trust on its US$7.5bn merger with Retail Properties of America.

Alexandria Real Estate Equities, Inc on real estate and land use matters in connection with the Alexandria Center® for Science and Technology in New York, NY.

Ivanhoé Cambridge as lead tax counsel on U.S. tax structuring issues, including on its various relationships with U.S. based asset managers and operators.

Life Storage on its US$12bn merger with Extra Space Storage.

Urstadt Biddle Properties on its acquisition by Regency in a stock transaction valued at US$1.4bn.

National Health Investors on its day-to-day tax planning and structuring.

VICI Properties on multiple transactions, including in connection with a new US$2.5bn multicurrency revolving credit facility entered into by its subsidiary, VICI Properties L.P.

Playa Hotels & Resorts on its US$2.6bn sale of all outstanding shares (including $900m of debt) to Hyatt Hotels.

W. P. Carey on multiple debt and equity offerings and its new at-the-market program.

BofA Securities, Inc. in multiple transactions as underwriter, including on the underwritten equity offering of 6,000,000 shares by Cousins Properties Incorporated.

Easterly Government Properties in multiple property acquisitions across the U.S.

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REITs

Explore our capabilities

M&A

Capital Markets

SEC Advisory and Corporate Governance

Tax

Real Estate

M&A

Capital Markets

SEC Advisory and Corporate Governance

Tax

Real Estate

Hear from our clients and industry leaders

Hogan Lovells is the go-to firm for REIT-related matters.

Hogan's REIT team has decades of experience, which provides the deepest foundation from which to guide new and incumbent REITs. They are practical, efficient and easy to work with.

Hogan Lovells has a sophisticated practice and a great team. The group is client-focused, results-driven and offers practical advice.

Hogan’s REIT practice has more experience representing REITs in the full life cycle of the REIT – from cradle to grave – than any other practice in the country.

Hogan Lovells is a great team that has its pulse on the market and market trends. They are very resolution and commercial oriented.

Key contacts

Representative experience

Other ways we can help you

Capital Markets

Real Estate

M&A

Public Company Advisory and Corporate Governance

Tax

Navigate change with our latest insights

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