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Overview

Gregory E. Spitzer is a partner in the Real Estate Department at Paul Hastings' Chicago office. He represents public and private companies and private equity firms in connection with acquisition, disposition and financing transactions. Gregory’s practice includes all aspects of commercial real estate acquisitions and dispositions, development, leasing, financing and re-structuring matters. Gregory has a particular focus in the areas of real estate restructurings and structured leasing transactions, including synthetic leasing, sale-leaseback and leverage lease transactions.

Gregory previously served on the board of directors of a public real estate and securities company. He also previously served as an adjunct professor of law at the University of Minnesota School of Law and as a guest lecturer at Northwestern Law School and DePaul University School of Law. He has authored or co-authored numerous articles and publications in the commercial real estate area.

Accolades

  • Illinois Real Estate, Chambers USA
  • Leading Partner, Real Estate, Legal 500
  • 500 Leading Global Real Estate Lawyers, Lawdragon

Education

  • Northwestern University School of Law, J.D., May 1989
  • University of Illinois (Urbana, Illinois), B.S. in Finance (with Highest Honors), May 1985 

Representations

Leasing Transactions:

  • Salesforce as tenant in its multi-floor anchor tenant lease of the Salesforce Tower in Chicago.
  • Brookfield Properties as tenant for its full-floor office lease in the to-be-constructed Bank of America building in Chicago.
  • Brookfield Securities as tenant for its multi-floor headquarters lease in Manhattan.
  • Brookfield Securities as tenant for its regional headquarters lease in Houston.
  • Eon Energy as tenant of its two-floor lease in Chicago.
  • A private landlord in the leasing of an office building containing 500,000+ sq. ft. in Naperville, IL.
  • GTCR as tenant in its multi-floor office lease in Chicago.
  • Landlord in leasing of an office building in Schaumburg, IL.
  • Madison Dearborn Partners as tenant in its multi-floor office lease in Chicago.
  • Fieldglass as tenant for its office lease in the West Loop of Chicago.
  • A private equity fund as landlord in leasing of several million sq. ft. of retail properties across the United States.
  • Landlord in the leasing of Prudential Towers I and II in Chicago.
  • Various private equity funds as landlord and tenant in leasing and subleasing millions of sq. ft. of industrial, warehouse and office properties across the United States.

Sale/Leaseback:

  • Client in $440 million sale-leaseback transaction of a portfolio of department stores.
  • Client in $600 million sale-leaseback transaction in connection with the acquisition of a restaurant chain.
  • Client in the sale-leaseback of a college campus.
  • Client in the acquisition of over 400 bowling centers and its related $250 Million sale-leaseback transaction of over 180 bowling centers.
  • Client in $174 million sale-lease back transaction involving industrial properties.
  • Client in a series of acquisition, development, sale/leaseback and financing transactions for a portfolio of warehouse and distribution centers across the United States.
  • Client in $160 million off balance sheet leveraged lease transaction for the acquisition and development of the largest natural gas storage field in North America.
  • Client in $150 million leverage lease transaction for its corporate campus
  • Client in $70 million synthetic lease facility for construction of warehouse and distribution centers across the United States.
  • Client in a series of black box synthetic lease transactions for the financing and development of senior living centers.

General Real Estate:

  • Client in the joint venture formation and acquisition and development of an office building and subsequent conversion for a hotel project.
  • Client in connection with acquisition of a downtown office building, its demolition and construction of a new office complex.
  • Public company client in the leasing of a Chicago area office building for relocation of its corporate headquarters.
  • Public company client in the acquisition of a suburban office building.
  • Client in the joint venture formation and acquisition and financing of office/industrial center complex.
  • Client in the joint venture formation and acquisition, development and conversion of industrial buildings to condominiums.
  • Client in a $125 million construction loan for a condominium project in Chicago.
  • International lender in connection with a term loan, permanent loan and existing loan modification to a manufacturing company for acquisition of an existing business secured by the personal property and real property assets of the acquired company.
  • Pension fund in the purchase of a regional shopping center.

Data Centers:

  • An interconnection and data center provider client in financing its data center facilities in Illinois and California, and in its subsequent sale.
  • Data center client in negotiation of its senior secured credit facilities.
  • Client in its acquisition of a portfolio of fiber optic and transmission lines.
  • An internet company client in connection with its leasing and development of a regional data center facility.
  • An internet client in the lease of a data center facility.

Bankruptcy:

  • Purchaser in the acquisition of a pizza restaurant chain out of bankruptcy.
  • Newspaper company in real estate matters related to its bankruptcy and restructuring.
  • Theme park operator with 20 parks in real estate matters related to its bankruptcy and restructuring.
  • Airline in real estate matters related to its bankruptcy and restructuring and $1.7 billion special facility bond litigation.
  • Client in $200 million DIP loan to international time share company.
  • Private equity fund in the acquisition of secured lien claims of a restaurant chain in bankruptcy which liens were secured by 90 store locations.

Engagement & Publications

Speaking Engagements

  • Private Equity Leaseback Strategies – Markets Group Private Equity US Spring Forum, Panel Discussion, Moderator (May 2021)
  • “Real Estate Financial Markets,” University of Illinois Rho Epsilon, Speaker (April 18, 2018)
  • “The Impact of New FASB/IASB Accounting Standards,” Insights 2016 Client Conference, Speaker (May 10, 2016)
  • “International Data Center Deployments-Rules of Engagement,” CBRE Client Summit, Speaker (May 5, 2016)
  • The Fourth Annual Greater Chicago & Midwest Data Center Summit, Speaker (June 16, 2015)
  • University of Illinois Rho Epsilon, “Real Estate Restructurings: Legal Aspects,” Speaker (May 5, 2015)
  • Chicago Mortgage Attorneys Association, Mezzanine Financing Best Practices, Speaker (April 15, 2015)
  • “New Accounting Rules to Spur Balance Sheet-Friendly Leases,” Law360 article, Interviewed and quoted (May 28, 2013)
  • Entrepreneurship and Innovation in Architecture—A Guide for Architects Working with Attorneys, Illinois Institute of Technology, College of Architecture, Guest Lecturer (October 2011)
  • “The Impact of Bankruptcy on Corporate Real Estate,” AECRE Fall Forum (2009)
  • Northwestern Law School, Real Estate Panel, Panelist (Nov. 5, 2009)
  • Current Conditions in Real Estate Seminar, University of Michigan, Panelist (October 2007, 2008 and 2009)
  • “Troubled Real Estate in Troubled Times,” “Has Real Estate Gone Green and Other Questions of Our Time?” Super CLE, University of Minnesota (March 2009)
  • “Title Insurance: an Introduction,” “Using the Bankruptcy Code as a Leveraging Device in Acquiring, Selling, or Repositioning Distressed Real Estate,” “Pre Petition Issues: A Few Things to Consider Before Filing,” Super CLE, University of Minnesota (March 2006)
  • Electronic Media In Real Estate Transactions — ICSC Conference (October 2000)

Publications

  • “Court Rules Force Majeure Clause Reduces Tenant’s Rent by 75% Due to COVID-19,” ABA Real Property Trust and Estate E-Report, Co-Author (Summer 2020)
  • “FASB Issues New Lease Accounting Standards,” Stay Current Client Alert, Co-Author (March 22, 2016)
  • “Recent Amendment Addresses In re Crane” mortgage case, Stay Current Client Alert, Co-Author (March, 7, 2013)
  • “The Debt Stack: Lessons Learned from the Great Recession,” Paul Hastings (Sept. 13, 2012)
  • “Who has the Keys? Distressed Hospitality Assets: An Overview of Pertinent Legal Issues,” PLI (March 2011)
  • “Who Really is in Charge? Dealing with Distressed Landlords and Lenders-in-Possession,” ICSC (November 2010)
  • “Distressed Real Estate Update: Practical and Legal Issues,” Part 2 of 2, Paul Hastings (June 2010)
  • “Distressed Real Estate Update: Practical and Legal Issues,” Part 1 of 2, Paul Hastings (May 2010)
  • “Assignment of Voting Rights in Intercreditor Agreements,” The ACREL Papers (Fall 2007)
  • “Opting In to Article 8 and Other Mezzanine Financing Best Practices,” The ACREL Papers (Fall 2007)
  • “Sale-Leaseback Transactions in Today’s Private Equity Environment,” Venture Capital Review (Spring 2007)
  • “Pre Bankruptcy Issues: What to Think About Before the Case is Filed,” The ACREL Papers (Spring 2006)
  • “Unlocking the Value of Your Real Estate Assets,” Franchise Times (May 2003)
  • “Sale-Lease Back Offers Compelling Alternative,” New York Law Journal, (Nov. 25, 2002)
  • “The Evolution Continues: The REIT Modernization Act,” US Business Review, March/April 2001

Involvement

Law School Teaching:

  • Adjunct Professor of Law – Real Estate Transactions Seminar, University of Minnesota (1998–2000)
  • Guest Lecturer – Northwestern University School of Law
  • Guest Lecturer – Michigan Law School
  • Guest Lecturer – DePaul University Law School (2001–2002)

Professional Organizations / Licenses:

  • Board Member – Christopher House (2007–2021)
  • Board Member – Chicago Central Area Committee (2005–2014)
  • Member – American College of Real Estate Lawyers (2005–Present)
  • Advisory Board Member – John Marshall Law School Center for Real Estate Law, LLM Program 
  • Illinois Bar Admission (1989)
  • Certified Public Accountant Exam – Illinois (1985)

Practice Areas

Real Estate Acquisitions and Dispositions

Real Estate Finance

Real Estate

Direct Lending and Private Credit Lending

Real Estate Equity Investments and Joint Ventures

Data Centers

Real Estate Restructuring and Reorganization


Languages

English


Admissions

Illinois Bar


Education

Northwestern Pritzker School of Law, J.D. 1989

University of Illinois at Urbana-Champaign, B.S. 1985