Rachel J. Silverman
Biography
Overview
Rachel J. Silverman is an associate in the Firm's Global M&A Practice Group and a member of the Real Estate Industry Group. She is based in the Chicago office. Rachel's practice focuses on real estate transactions, with particular emphasis on acquisitions, dispositions and sale-and-leaseback transactions.
Experience
Representative matters include the representation of:
PWM Property Management LLC and certain affiliates on a definitive agreement to sell their interests in the commercial office tower located at 245 Park Avenue in New York City to an affiliate of SL Green Realty Corp., the largest landlord in Manhattan. The transaction is valued at approximately US$2 billion, including the assumption of US$1.76 billion of existing funded debt, the equitization of US$168 million of SL Green's existing preferred equity interests in 245 Park JV LLC, and the investment of US$68 million in cash to satisfy the obligations necessary to effectuate the restructuring.
VPC Impact Acquisition Holdings III, Inc. (NYSE: VPCC), a SPAC sponsored by Victory Park Capital, in its US$4 billion business combination with Dave Inc., a financial platform.
Landcadia Holdings III, Inc. (NASDAQ: LCY), a SPAC, in its US$2.642 billion acquisition of HMAN Group Holdings Inc., the parent company of The Hillman Group, Inc., a leading distributor of hardware and home improvement products, personal protective equipment and robotic kiosk technologies, from CCMP Capital Advisors, LP.
VPC Impact Acquisition Holdings (NASDAQ: VIH), a SPAC sponsored by Victory Park Capital Advisors, LLC, a Chicago-based private equity firm, in its US$2.082 billion business combination with Bakkt Holdings, LLC, the transformative digital asset marketplace launched in 2018 by Intercontinental Exchange, Inc.
Altria Group, Inc. in the US$1.2 billion sale by its subsidiary, UST LLC, of its Ste. Michelle Wine Estates (Ste. Michelle) business to Sycamore Partners Management, L.P.
Macquarie Infrastructure Partners and Uniti Group Inc. (NASDAQ: UNIT) in connection with the acquisition of Bluebird Network, LLC, the owner of an approximately 5,200-mile fiber network in Missouri and Illinois; and the concurrent representation of Macquarie Infrastructure Partners in connection with the acquisition of Uniti Group Inc.'s Midwest fiber business, comprising an approximately 2,500-mile fiber network in Illinois.
Macquarie Infrastructure Partners in its acquisition of Lakeshore Recycling Systems, the largest private waste company in Illinois, specializing in recycling and waste diversion programs, roll-off container services, portable restroom rentals, mulch distribution, street sweeping, on-site storage options and comprehensive waste removal.
DIF Capital Partners, a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, in its acquisition of Bernhard LLC, the largest privately owned Energy-as-a-Service (EaaS) solutions company in the US, from an affiliate of Bernhard Capital Partners.
I Squared Capital Advisors (US) LLC in its acquisition of Star Leasing, a leading trailer lessor in the US.
Grupo Verzatec in its pending US$360 million acquisition of the engineered materials business of Crane Co.
A large institutional investor in the purchase of four Marriott-flagged hotels, having a value in excess of US$250 million.
Albion Residential LLC on its US$107.8 million acquisition and US$94.2 million real estate financing of a 719-unit apartment community located at 975 Sterling Avenue, Palatine, Illinois.
