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In a market experiencing unprecedented change, parties involved in high-stakes real estate deals need a steady, trusted hand to guide them. The Paul, Weiss Real Estate Practice leverages a history of executing every kind of real estate property transaction and unparalleled business and legal acumen to help the most complex projects succeed amid volatile economic conditions.
FREIT to Sell Apartment Portfolio and Voluntarily Liquidate
- Client News
- January 15, 2020
Paul, Weiss is advising the Special Committee of the Board of Trustees of First Real Estate Investment Trust of New Jersey (FREIT) in the trust’s $266.5 million sale of seven apartment properties to an affiliate of Kushner Companies. The firm is also advising the special committee on the board’s adoption of a plan of voluntary liquidation of the trust. Both the apartment portfolio sale agreement and the voluntary plan of liquidation are subject to shareholder approval, and the plan of liquidation is also subject to consummation of the apartment portfolio sale. Both transactions were announced January 15.
The Paul, Weiss team includes, among others, corporate partners Bruce Gutenplan, Steven Williams and counsel Nathan Sawyer; real estate partner Mitchell Berg and counsel Andrew Wurzburger; and tax partner Lindsay Parks.