The Firm is representing affiliates of The Blackstone Group (“Blackstone”) in connection with its acquisition from affiliates of Elbit Imaging Ltd. of a portfolio of 46 retail shopping centers in the United States, comprising approximately 10.6 million square feet of space in 20 states for $1.43 billion, including the assumption of at least $945 million in debt.  In connection with the execution of the purchase agreement, Blackstone entered into a joint venture with affiliates of DDR Corp. (“DDR”) to acquire the properties.  Blackstone will own 95% of the joint venture and DDR will own 5% of the joint venture.  DDR will also be making a $150 million preferred equity investment in the joint venture.

Crowell & Moring LLP is pleased to announce that Jeffrey A. Smith has joined the firm’s New York office, where he will be a partner in the firm’s Environment & Natural Resources and Corporate groups. Smith joins from Cravath, Swaine & Moore LLP, where he was a partner and head of the firm’s environmental law group, as well as the former Managing Partner of Administration.

Leading international law firm Clifford Chance today announced that Ivan Presant and Joseph Cosentino have joined the firm as M&A partners in New York. The two were previously partners at Dewey & LeBoeuf, where they represented clients on a wide variety of acquisitions, dispositions and other mergers and acquisitions-related activity.