David L. Perechocky
Overview
David Perechocky is a partner in the Real Estate Practice Group in the New York office of Kirkland & Ellis LLP and a member of Kirkland’s REITs and Real Estate M&A practice. David primarily focuses on public and private company mergers and acquisitions, strategic portfolio transactions, joint ventures and other corporate and securities law matters, particularly for REITs, real estate private equity sponsors and other real estate companies and real estate-related businesses. He also has experience advising real estate fund sponsors on GP-led transactions, including continuation funds, recapitalizations and secondaries.
David is recognized as a “Notable Practitioner” for his work in Corporate/M&A, Private Equity and Real Estate by IFLR1000 in 2021–2024 and is recognized by The Legal 500 U.S. in 2021 for Real Estate Investment Trusts (REITs). David was also recognized in 2023 by Law360 as a “Rising Star” in its list of Top Attorneys Under 40, and was named as one of the “500 Leading Global Real Estate Lawyers” by Lawdragon in 2024.
Experience
Representative Matters
Notable transactions include:
Real Estate & REITs
- Fortress Investment Group on the launch of Fortress Credit Realty Income Trust, a continuously-offered, privately-placed mortgage REIT
- Fortress Investment Group on the launch of Fortress Net Lease REIT, a continuously-offered, privately-placed net lease REIT
- Bridge Investment Group on the launch of Bridge Investment Group Industrial Real Estate Income Trust (BIGi REIT), a continuously-offered, privately-placed industrial net lease REIT
- Special Committee of the Board of Directors of Safehold Inc. in connection with Safehold’s $6.4 billion strategic merger with its controlling shareholder iStar Inc. and related spinoff of iStar assets into a new publicly traded company
- Private equity firm in the recapitalization of its 13-asset mixed-use real estate portfolio and the related formation of a continuation fund
- U.S. private equity fund in the formation of a programmatic joint venture to acquire and develop diversified commercial real estate projects throughout the U.S., U.K. and Europe
- StorageMart in its acquisition of Manhattan Mini Storage, including the entirety of the company’s 18 self-storage real estate locations throughout Manhattan
- Starwood Capital Group in its:
- $6 billion joint acquisition, together with Blackstone Real Estate Partners, of Extended Stay America and its related 50/50 joint venture with Blackstone
- $800 million private placement investment in BowX Acquisition Corp.'s $9 billion business combination with WeWork
- $155 million private placement investment in Fifth Wall Acquisition Corp. I’s $2.2 billion business combination with SmartRent
- GLP in the $18.7 billion sale of its U.S. logistics business to Blackstone — the largest private real estate transaction in history (recognized in the Financial Times U.S. Innovative Lawyers report)
- Taubman Centers:
- Special Committee of the Board of Directors in Taubman’s $9.8 billion merger and related joint venture with Simon Property Group
- in connection with shareholder activism by Land and Buildings
- Monarch Alternative Capital, alongside RPT Realty, GIC and Zimmer Partners, in connection with the formation of a partially-seeded programmatic $1.2 billion net lease retail real estate investment platform sponsored by RPT Realty
- CBL & Associates Properties in its agreement with Exeter Capital regarding the composition of the CBL board of directors
- Blackstone in its investment in Rockpoint Group
- U.S. private equity fund in connection with its sale of a 49% interest in a $1.87 billion portfolio of multifamily properties
- Ladder Capital in connection with the review and rejection of an unsolicited $1.7 billion acquisition proposal from Related Fund Management
- Scalar, LLC, as financial advisor to Cottonwood Communities, a non-traded public REIT, in its $2.5 billion stock-for-stock merger with Cottonwood Multifamily Opportunity Fund
Other Industries
- Starwood Capital Group in the spin-out of its energy platform, Lotus Infrastructure
- JAWS Estates Capital, the family office of Barry Sternlicht:
- JAWS Spitfire Acquisition Corporation in its $1.6 billion business combination with Velo3D
- JAWS Acquisition Corp. in its $4.4 billion business combination with Cano Health
- Lee Enterprises:
- in response to an unsolicited acquisition proposal from Alden Global Capital and in its successful defense of an attempted proxy contest by Alden
- in response to the "withhold-the-vote" campaign by Cannell Capital
- Investindustrial Acquisition Corp. in its $3.2 billion business combination with Ermenegildo Zegna Group
- Blackstone in its combined $800 million investment, along with Viking Global Investors, in the combination of APi Group Corp. and Chubb Fire & Security Business
- Wilton Re in its $400 million acquisition of Allstate Life Insurance Company of New York from Allstate
- Intelsat S.A. and certain of its affiliates in connection with their Chapter 11 cases involving approximately $14.7 billion in funded debt (Restructuring Deal of the Year (Over $10B) ─ The M&A Advisor International M&A Awards, 2023)
- BBAM LP, as manager and servicer of Fly Leasing Limited, in FLY’s $2.36 billion sale to Carlyle Aviation Partners
- Nikola Corporation in response to an activist short attack by Hindenburg Research
- Consortium consisting of Bain, Carlyle, Centerbridge and Gallatin Point in their agreement to exchange their existing preferred shares in Sirius International Insurance Group (NASDAQ: SG) for a combination of cash and newly issued preferred shares in Third Point Reinsurance (NYSE: TPRE) valued at $260 million upon the completion of the merger transaction between Sirius Group and Third Point Re
- Special Committee of Board of Directors of FGL Holdings in its $2.7 billion acquisition by Fidelity National Financial
- Amcor Ltd. in its $6.8 billion acquisition of Bemis Co. (International Deal of the Year — 2020 Australasian Law Awards)
- Rhône Group in its strategic partnership with Eurazeo (EPA:RF) for a 30% interest in Rhône Group in exchange for $270 million in cash and Eurazeo stock
- Spectrum Brands in its $2 billion carve-out sale of its global consumer battery business to Energizer
- Crescent Capital BDC, Inc. in its acquisition of Alcentra Capital Corporation
- Blackstone in its investment in New Mountain Capital
- Private agriculture company in connection with an out-of-court corporate restructuring, including a convertible preferred equity investment and unsecured debt investment from a consortium of investors and a concurrent refinancing of its existing first-lien credit facility
- AEO Inc. in its strategic partnership and Series A preferred equity investment in Dormify
- Kinderhook Industries in its acquisition of Intergulf Corporation
Notable transactions prior to joining Kirkland, include:
- Paramount Group in its $2.6 billion IPO — the largest IPO in the history of the REIT industry
- Lennar in its $9.3 billion acquisition of CalAtlantic, creating the largest U.S. homebuilder
- Monogram Residential Trust in its $4.4 billion going-private sale to a private equity fund sponsored by Greystar Real Estate Partners
- Empire State Realty Trust (ESRT) in the acquisition by the Qatar Investment Authority of a 9.9% fully diluted interest in ESRT for $622 million
- Multiple non-traded public REIT IPOs for Fundrise, Cottonwood and Tryperion Partners under Regulation A
- MAA (Mid-America Apartment Communities) in its $17 billion business combination with Post Properties, creating the largest multifamily REIT by number of apartments
- Medical Properties Trust in financing and related investments relating to its $1.25 billion acquisition of a portfolio of nine Massachusetts hospitals operated by Steward Health Care, which is majority-owned by affiliates of Cerberus Capital Management. (M&A Advisor Healthcare and Life Sciences Deal of the Year (over $100MM))
- EPR Properties in its $830 million joint acquisition with affiliates of Och-Ziff Real Estate of a portfolio of amusement parks, waterparks and ski resorts from CNL Lifestyle Properties
- Equity One, Inc. in its "at-the-market" equity offering of 8.5 million shares and related private placement program with Gazit-Globe, a publicly-traded real estate company based in Israel
- CreXus Investment Corp. in its $1.0 billion acquisition by Annaly Capital Management, Inc.
- MAA (Mid-America Apartment Communities) in its $8.6 billion merger with Colonial Properties Trust
- Brookfield Office Properties in forming a fund to acquire MPG Office Trust
- Cole Credit Property Trust II, a non-traded public REIT, in its $7.1 billion acquisition by Spirit Realty Capital, Inc.
Clerk & Government Experience
Judicial InternHonorable Martin GlennUnited States Bankruptcy Court for the Southern District of New York2011
Legal ExternFinancial Industry Regulatory Authority2011
Prior Experience
Goodwin Procter LLP, Associate — REITs and Real Estate M&A, 2012–2017
RD Management, Real Estate Intern, 2011
More
Thought Leadership
Publications
“Retail Real Estate Vehicles: Recent Developments,” co-authored for PREA Quarterly, Spring 2024
“Expert Q&A: SPACs and Real Estate,” Thomson Reuters Practical Law
“REIT Activism Trends to Expect in the Wake of COVID-19,” Law360
Events
Presenter, “Unlocking the Retail Market: Introduction to Retail Real Estate Vehicles,” Kirkland & Ellis Webinar Series, December 5, 2023
Kirkland Rising Leaders of Real Estate Event 2019
Recognition
Named a “Notable Practitioner” for Corporate/M&A, Private Equity and Real Estate by IFLR1000, 2021–2024
Recognized by Lawdragon as one of “500 Leading Global Real Estate Lawyers,” 2024
Named to Law360's list of Top Attorneys Under 40, 2023
Memberships & Affiliations
National Association of Real Estate Investment Trusts (Member)
Urban Land Institute (Member)
Credentials
Admissions & Qualifications
- New York
- Massachusetts
Education
- New York University School of LawJ.D.2012
Staff Editor, Journal of International Law and Politics
- Wesleyan UniversityB.A.2005