Simpson Thacher Represents Blackstone in Acquisition of Apple REIT Six

The Firm is representing an affiliate of Blackstone Real Estate Partners VII in connection with its acquisition of Apple REIT Six, Inc., a public real estate investment trust. The total transaction value, including transaction costs and the assumption or repayment of the Company’s debt, is approximately $1.2 billion. Pursuant to the terms of the merger agreement, each issued and outstanding Unit (Common Share and related Series A Preferred Share) of the Company will be converted into the right to receive consideration with a stated value of $11.10 per Unit consisting of (i) $9.20 in cash and (ii) one share of 7% Series A Cumulative Redeemable Preferred Stock having a liquidation preference of $1.90 per share. The agreement is subject to shareholder approval and customary closing conditions.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Former Freddie Mac Executive Vice President, General Counsel and Corporate Secretary Robert Bostrom Joins Greenberg Traurig

Former Freddie Mac Mac’s Executive Vice President, General Counsel and Corporate Secretary Robert E. Bostrom has joined the international law firm Greenberg Traurig, LLP’s New York City office as a shareholder in the Corporate & Securities and Financial Institutions practices. Bostrom joins from his position as Co-Head of the Global Financial Institutions and Fund sector at SNR Denton. There he also led that firm’s corporate governance, board advisory and crises management practice and was part of the Dodd-Frank special situations team.

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Paul Hastings Represents Xinyuan Estate Co. in Acquisition Williamsburg Property

Paul Hastings LLP, a leading global law firm, announced today that the firm represented Xinyuan Real Estate Co., a Beijing-based company that is listed on the NYSE, in its $54 million acquisition of a parcel of land at 421 Kent Avenue, Williamsburg, New York City. The site was acquired from an entity controlled by New York real estate investor Richard Kalikow.

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Nixon Peabody Advises Wells Fargo in $621 Million Deal to Refinance Mortgage Loan for New York City Cooperative; Loan Preserves Affordable Housing for Thousands of Bronx Families

The U.S. Department of Housing and Urban Development (HUD) has announced a $621 million deal to refinance a previous mortgage at Co-op City, a large cooperative housing community that is home to more than 57,000 residents in the Bronx, New York. As announced by HUD Secretary Shaun Donovan, HUD and Wells Fargo Bank N.A. closed on the loan that will preserve long-term affordable housing for these families and significantly lower annual interest payments for the building’s owner over the next 35 years. The new mortgage is backed by the Federal Housing Administration’s (FHA) General Insurance and Special Risk Insurance (GI/SRI) Fund. Nixon Peabody LLP provided legal counsel to Wells Fargo Bank N.A.

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Simpson Thacher Represents Forest City Ratner Companies in Formation of Joint Venture with Skanska USA

The Firm is representing Forest City Ratner Companies (FCRC) in connection with its formation of a joint venture with Skanska USA related to the construction of residential towers in the Atlantic Yards development project in Brooklyn, New York. FCRC is the developer of the $4.9 Billion Atlantic Yards project, which is a mixed-use commercial and residential development project and includes the recently opened Barclays Center. The first of the residential towers to be constructed as part of the Atlantic Yards project are designed to be erected using modular construction technology, and the new company created by the joint venture will be responsible for building the towers’ modular components. FCRC expects to break ground shortly on the first 32-story tower, which is expected to become the tallest modular building in the U.S. upon completion.

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