Wallace L. Schwartz, global head of Skadden’s Real Estate Group, is active in all aspects of the firm’s Real Estate practice, including real estate development, acquisitions, leasing, partnerships and joint ventures, financing, gaming and lodging, real estate funds, and public and private offerings of real estate securities.
Mr. Schwartz currently is representing lenders, owners and developers in connection with loan workouts and restructurings relating to mixed-use properties throughout the United States.
In the area of real estate securities offerings, Mr. Schwartz represents investment banks, commercial banks and issuers in connection with REITs, rated securitized debt and acquisition funds. Recent transactions include the $2 billion initial public offering of Dividend Capital Trust; the $3.2 billion acquisition of Heritage Investment Trust, Inc. by Centro Watt; the $760 million acquisition of BNP Residential Properties, Inc. by Babcock & Brown; and the $1.5 billion acquisition of Town & Country Trust. Mr. Schwartz also has acted as underwriters’ counsel in connection with the initial and subsequent public offerings for Boston Properties, Inc.
Mr. Schwartz led the real estate team representing The Bear Stearns Companies Inc. in its approximately $1 billion acquisition by JPMorgan Chase & Co. In addition, Mr. Schwartz is currently representing Tishman Speyer Properties, ING Clarion Capital Partners, BlackRock Realty and H2 Capital in connection with several U.S. and international real estate funds.
In the area of leasing, Mr. Schwartz has represented tenants in many of the largest New York City headquarters transactions in the last several years, including Bank of America’s 1.7 million square-foot lease and joint venture at One Bryant Park, Ernst & Young LLP at 5 Times Square, Major League Baseball’s broadcast studio and office space for the new MLB Network, the National Hockey League headquarters lease and NHL store, and several major tenants at the New York Times Building. On the landlord side, Mr. Schwartz has represented Boston Properties in connection with the leasing of Times Square Tower and 250 West 55th Street; Silverstein Properties in connection with the leasing of 7 World Trade Center and other World Trade Center sites, recently concluding leases for more than 1 million square feet; and Tishman Speyer Properties in connection with Rockefeller Plaza.
In connection with the gaming and lodging industry, Mr. Schwartz has represented developers, issuers and underwriters in the acquisition, development and project financing of hotels, casinos and riverboats in New Orleans, Las Vegas, Atlantic City, and Colorado; and he is currently representing the developer of a mixed-use hotel/casino/retail project in Macau. Mr. Schwartz also represents hotel owners and developers in connection with hotel management and operating agreements. Mr. Schwartz represented the majority partner of Aladdin Gaming LLC in the $1.3 billion redevelopment of the Aladdin Hotel and Casino in Las Vegas. Recently, Mr. Schwartz represented the Israeli company IDB Holding Corporation in a joint venture to acquire and finance a $1 billion property on the Las Vegas strip, as well as the Poster Financial Group in connection with the acquisition and subsequent sale of the Golden Nugget Las Vegas casino. Mr. Schwartz also has been active in the representation of U.S. and non-U.S. clients in connection with their acquisition and development of hotels, shopping centers, ski resorts, office buildings and residential projects in Japan, China, the United Kingdom, Canada, Mexico and throughout the United States.
Mr. Schwartz was selected for inclusion in Chambers USA: America’s Leading Lawyers for Business 2009 and Legal Media Group’s Guide to the World’s Leading Real Estate Lawyers 2008.
