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In a market weathering unprecedented change, companies involved in high-stakes real estate deals need a steady, trusted hand to guide them. They also need counsel who can help them find new solutions for tough new challenges. The Paul, Weiss Real Estate Department offers clients the best of both worlds. Our long history of executing every kind of deal touching real property and our business and legal savvy help the most complex real estate projects succeed in fluctuating economic conditions.

FREIT to Sell Apartment Portfolio and Voluntarily Liquidate

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 corporate partners Bruce Gutenplan, Steven Williams and counsel Nathan Sawyer; real estate partner Mitchell Berg and counsel Andrew Wurzburger; tax partner Lindsay Parks; and employee benefits partner Andrew Gaines.

January 15, 2020

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