© 2015 The Texas Lawbook.
By Natalie Posgate
(Dec. 9) – Charleston, S.C.-based Greystar Real Estate Partners said Tuesday that an affiliate would sell a 32-property, 10,399-unit multifamily portfolio to the real estate outfit of The Blackstone Group for $2 billion.
The portfolio includes apartment communities in Seattle, San Francisco, Los Angeles, South Florida, New York and Boston and comprises a mix of high-rise and garden-style buildings.
Greystar turned to Dallas real estate partner David Lowery to lead its end of the deal, as well as New York partner Bob Profusek, who heads the firm’s global M&A practice.
In October, Lowery advised TriGate Capital when it acquired a 90 percent ownership interest in the Comercia Bank Tower of downtown Dallas. He also recently represented Dallas-based Mill Creek Residential Trust’s sponsorship of multifamily build-to-core and acquisition funds.
Lowery’s work has taken him beyond Texas and the U.S., though. For example, in 2004, he worked on Morgan Stanley’s $8.6 billion buyout of the Canary Wharf in London.
Blackstone hired Simpson Thacher to advise its end of the transaction.
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