Transaction Experience

Hentschel & Company’s senior bankers have worked on a number of high profile assignments over the course of their careers, including the transactions below. Click on Company for an overview of each transaction and click on header to sort by Company, deal size, year, transaction type and property type.

Company Deal Size ($ in millions) Year TransactionType PropertyType
Resource Capital Corp.
$207
  2016 M&A Specialty Finance

Advised Resource Capital Corp. (NYSE: RSO), a $2.4 billion commercial mortgage REIT, on the acquisition of its external manager, Resource America (NASDAQ: REXI), by C-III Capital Partners for $207 million

Not disclosed
$400
  2016 M&A Lodging

Advised the Special Committee of the Board of Directors of a public REIT in connection with a proposed related party transaction

Redwood Capital Group
$30
  2016 Private Equity Multifamily

Raised $30 million entity-level equity for corporate purposes and to fund GP equity positions as part of the acquisition of value-add apartments in the Midwest and Southeastern U.S.

Peter Cooper Village - Stuyvesant Town
$5,300
  2015 Advisory Multifamily

Provided the owners with valuation and other advice prior to the $5.3 billion sale to Blackstone and Ivanhoe Cambridge

Mack Real Estate Group
$600
  2015 Private Equity Specialty Finance

Raised $600 million equity for Claros Mortgage Trust, a newly-formed commercial mortgage REIT, to originate first mortgage loans on transitional real estate assets in major U.S. markets

High Street Realty Company
$200
  2015 Private Equity Industrial

Raised $200 million commitment for joint venture equity to acquire value-add industrial assets in selected markets in the Eastern U.S.

Not disclosed
Not disclosed
  2015 Advisory Diversified

Advised the holder of a minority interest in a non-traded REIT advisor on valuation and liquidity options

Lindsay Goldberg
$500
  2014 Advisory Health care

Advised Lindsay Goldberg on strategic alternatives in connection with its 43% ownership interest in AVIV REIT (NYSE: AVIV), leading to AVIV’s $10 billion merger with Omega Healthcare Investors REIT (NYSE: OHI)

Origen
$494
  2014 M&A / Fairness Opinion Specialty Finance

Advisor to the Board of Directors of Origen Financial on the sale of all its assets to GoldenTree

Cole Corporate Income Trust
$3,100
  2014 M&A / Fairness Opinion Triple Net Lease

Advisor to the Independent Directors of the Board of Cole Corporate Income Trust on strategic alternatives and its cash election merger with Select Income REIT

TMI Hospitality
$1,100
  2014 Fairness opinion Hotels

Provided a fairness opinion to the Board of Directors of TMI Hospitality in connection with the sale of 188 hotels and the TMI management/development company to Starwood Capital

RXR Realty
Not disclosed
  2014 Portfolio sale Ground Lease

Advised RXR Realty on the assignment of the right to receive rents on 19 ground leased assets

Cole Credit Property Trust II
$3,700
  2013 M&A / Fairness Opinion Triple Net Lease

Advisor to the Special Committee of the Board of Directors of Cole Credit Property Trust II on strategic alternatives and its merger with Spirit Realty Capital

Archstone
$9,800
  2012 M&A Multifamily

Exclusive advisor to the Lehman Estate in its sale of 60% of Archstone to Equity Residential

Archstone
$6,500
  2012 M&A Multifamily

Exclusive advisor to the Lehman Estate in its sale of 40% of Archstone to AvalonBay

Archstone
$11,400
  2012 M&A Multifamily

Exclusive advisor to the Lehman Estate in its purchase of its partners’ second 26.8% interest in Archstone to gain 100% ownership and full control

Archstone
$1,350
  2012 M&A Multifamily

Exclusive advisor to the Lehman Estate in its purchase of its partners’ first 26.8% interest in Archstone

Archstone
$3,450
  2012 IPO Advisory Multifamily

Advisor to the Lehman Estate its in its parallel path IPO of Archstone

Two Harbors Investment Corp.
$380
  2012 IPO Advisory Single Family Rental

Exclusive advisor to the Special Committee of Directors of Two Harbors Investment Corp. on the contribution of its single family rental assets in exchange for a 48% interest in Silver Bay Realty Trust, a newly formed externally managed REIT, concurrent with its $245mm IPO

Merion Realty Partners
$284
  2011 Private Equity Multifamily

Raised $63 million in institutional joint venture equity for a 20 asset, 5,000-unit apartment portfolio in the Southeastern United States

Silverleaf Resorts
$427
  2011 M&A / Fairness Opinion Timeshare

Exclusive advisor to Silverleaf Resorts on strategic alternatives and sale to Cerberus Capital Management for $427 million, or $2.50 per share, a 75% premium to its closing price at announcement

Crystal River
$792
  2010 M&A / Fairness Opinion Specialty Finance

Exclusive advisor to the Special Committee of the Board of Directors of Crystal River Capital on strategic alternatives, portfolio sales, debt restructuring and its utlimate $792 million sale to Brookfield Asset Management

The Student Loan Corp.
$8,700
  2010 Fairness Opinion Specialty Finance

Provided Fairness Opinion to Special Transaction Committee of The Student Loan Corp. on the sale of an $8.7 billion student loan portfolio to Citibank

RXR Realty
$180
  2009 Private Equity Office

$180 million commingled blind pool, discretionary fund raise for RXR Realty

American Land Lease
$438
  2008 M&A / Fairness Opinion Manufactured Home Community

Exclusive advisor on strategic alternatives and sale to Green Courte Partners for $14.20 per share, a 264% premium to its closing price at announcement

Aimco
$726
  2007 Private Equity Multifamily

Raised $202 million joint-venture equity through sale of 47% interest in Los Angeles apartment portfolio valued at $726 million

Behringer Harvard REIT I
$1,400
  2007 M&A Office

Exclusive advisor to Behringer Harvard REIT I, a non-traded office REIT, on its acquisition of IPC U.S. REIT for $1.4 billion

Brandywine Realty Trust
$172
  2006 Portfolio Sale Office

Sale of an office asset to Behringer Harvard REIT I for $172 million cash

Gables
$650
  2006 Private Equity Multifamily

Syndicated $650 million equity for commingled fund investment in Gables following go-private transaction

Lehman Brothers and ING Clarion
$3,000
  2005 M&A Multifamily

Exclusive advisor to Lehman Brothers and ING Clarion on $3.0 billion go-private acquisition of Gables Residential Trust, a publicly traded apartment REIT

Republic Properties Corporation
$240
  2005 IPO Advisory Office

$240 million IPO of Republic Properties Trust, an owner and developer of Washington, DC area office properties

Origen
$60
  2004 IPO Advisory Specialty Finance

$60 million IPO of Origen Financial, a mortgage REIT engaged in the origination and securitization of chattel loans secured by manufactured homes.

The Rubenstein Company
$600
  2004 M&A Office

Exclusive advisor to The Rubenstein Company on its $600 million sale of an office portfolio to Brandywine Realty Trust for cash/OP units

The Rubenstein Company
$118
  2004 Portfolio Sale Office

Exclusive advisor to The Rubenstein Company on its $118 million sale of an office asset to Corporate Office Property Trust for cash/OP units

The Rubenstein Company
$78
  2004 Portfolio Sale Office

Exclusive advisor to The Rubenstein Company on its $78 million sale of a life sciences office asset to BioMed Realty Trust for cash

Encore Communities
$206
  2004 M&A Manufactured Home Community

Exclusive advisor Lehman Brothers on its $206 million sale of a portfolio of manufactured home communities and RV Parks to Equity Lifestyles for cash

Origen
$200
  2003 Private Equity Specialty Finance

Raised $200 million equity in a 144-A private placement for Origen Financial, a mortgage REIT engaged in the origination and securitization of chattel loans secured by manufactured homes

Pennsylvania REIT
$1,300
  2003 M&A / Fairness Opinion Malls

Lead advisor to Pennsylvania REIT on its $1.3 billion acquisition of publicly-traded Crown American Realty Trust for stock/OP units

Pennsylvania REIT
$548
  2003 M&A Malls

Exclusive advisor to Pennyslvania REIT on its $548 million acquisition of regional malls from The Rouse Company

FBR Asset Investment Corp
$4,800
  2003 M&A / Fairness Opinion Specialty Finance

Exclusive advisor to the Special Committee of the Board of Directors of FBR Asset Investment Corp. in the sale of the publicly-traded mortgage REIT to its external advisor Friedman, Billings, Ramsey Group, Inc. for $4.8 billion in a stock for stock transaction

Pennsylvania REIT
$420
  2003 Portfolio Sales Multifamily

Sale of a 13 property multifamily portfolio for $420 million cash to Mitchell Morgan Co.

Minnesota Mini-Storage
$93
  2003 M&A Self Storage

$93 million sale of 19 self-storage assets to Shurgard Self-Storage for OP units

Storage USA
$2,600
  2002 M&A / Fairness Opinion Self Storage

Exclusive advisor to the Special Committee of the Board of Directors on strategic alternatives that resulted in sale of the publicly-traded REIT to Security Capital Group for $2.6 billion in cash

Beacon Capital Partners
$278
  2002 Portfolio Sale Office

Sale of an office park for $278 million cash to the Massachusetts Institute of Technology

AMLI
$227
  2001 Portfolio Sale Office

Sale of office / industrial assets for $227 million cash to Prudential Real Estate Investors

AMLI
$125
  2001 Private Equity Office

$125 million joint-venture equity raise for Panattonni Development Co and CalPers in acquisition of AMLI Commercial land assets

Macklowe Properties
$250
  1998 IPO Advisory Office

$250 million planned IPO Macklowe Properties, an owner and operator of New York City residential and commercial buildings (filed registration statement but offering withdrawn)

SL Green Realty Corp.
$244
  1997 IPO Advisory Office

$244 million IPO of SL Green, an owner of New York City office properties

Kilroy Realty Corporation
$288
  1997 IPO Advisory Office

$288 million IPO of Kilroy Realty Corp., a developer and operator of office and industrial real estate in Southern California and other west coast markets

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