Steven M. Lutt
Mr. Lutt represents owners, developers and private equity investors in a wide range of domestic and international joint venture, partnership, financing and distressed debt real estate transactions, as well as the acquisition, disposition, development, leasing and management of various classes of real estate, including commercial, industrial, office, hospitality, residential and mixed use properties. Additionally, Mr. Lutt represents clients in the hospitality sector in connection with joint ventures, acquisitions, dispositions, public, private and government sponsored financings, including acquisition and construction financings, resort and condo-hotel developments, and management agreements. He also represents private equity investors and other clients in a variety of domestic and international mergers, acquisitions, divestitures, joint ventures and restructurings.
On both domestic and cross-border transactions, Mr. Lutt works in close cooperation with White & Case lawyers in related areas such as tax, bankruptcy, infrastructure/projects, securities and disputes, as well as with lawyers throughout our worldwide network.
- CITIC Capital in itsUS$770 million acquisition of GNC Holdings Inc. through its subsidiary Harbin Pharmaceutical Group Holding Co., Ltd. pursuant to Section 363 of the United States Bankruptcy Code.
- Flying Eagle Acquisition Corp., (NYSE: FEAC), a SPAC, in its US$4.3 billion business combination with Skillz Inc., a mobile-gaming company based in California.
- Dominus Capital, L.P., in its acquisition of Lockmasters, Inc., a manufacturer and distributor of locks, doors and related hardware components and provider of related education and training classes.
- Landcadia Holdings II, Inc. (NASDAQ: LCA), a SPAC, in its US$745 million acquisition of Golden Nugget Online Gaming, Inc. (GNOG), one of the nation's leading online casinos, from Landry's Fertitta LLC, part of the Landry's group of restaurant and hospitality businesses.
- A consortium composed of Brookfield Infrastructure, its institutional partners and GIC, Singapore's sovereign wealth fund, on the US$8.4 billion acquisition of Genesee & Wyoming Inc. (NYSE: GWR), a freight railroad owner and operator based in the US.
- Harvest Partners in an investment in MRI Software, a leading provider of real estate management software solutions globally.
- Motiva Enterprises in connection with its acquisition of Flint Hills Resources’ chemical plant in Port Arthur, Texas.
- Sempra Energy, a utility holding company with the largest U.S. customer base (NYSE: SRE), in connection with the sale of its equity interests in its Peruvian businesses, including its 83.6% stake in Luz del Sur, to China Yangtze Power International (Hongkong) Co., Limited for US$3.59 billion in cash.
- Macquarie Infrastructure Partners
- in the acquisition of Netrality Data Centers from funds managed by Abrams Capital Management. Netrality owns and operates carrier hotel facilities, which act as data connectivity hubs for customers needing connectivity across multiple fiber networks, as well as colocation, powered shell, and wholesale data center solutions.
- in the US$1.212 billion sale of Gadus Holdings Corporation, the parent company of WCA Waste Corporation, to GFL Holdco (US), LLC, a subsidiary of GFL Environmental Inc.
- Macquarie Infrastructure Partners and Uniti Group Inc. (NASDAQ: UNIT) with respect to the acquisition of Bluebird Network, LLC, the owner of an approximately 5,200-mile fiber network in Missouri and Illinois.
- Macquarie Infrastructure Corporation in its US$2.685 billion sale of International-Matex Tank Terminals, a bulk liquid terminals business, to Riverstone Holdings LLC.
- A Middle Eastern institutional investor in connection with:
- its limited partnership investment in a multibillion-dollar mixed-use development project in the Hudson Yards district of NYC; and
- its joint venture common and preferred equity investment in a US$400 million branded hotel and residential condominium project in the US.
- A China-based investor in connection with:
- its US$270 million investment, as 80 percent equity partner, and first outside investor with leading world-wide developer for the development of a 1.3 million rentable square-foot property to consist of office building and retail areas to be located in the Hudson Yards district of NYC.
- its US$201 million investment, as 80 percent equity partner, and first outside investor with leading world-wide developer for the redevelopment of an existing high profile property located in Brooklyn, NY into approximately 622,000 of new rentable square-feet of office space to be overbuilt on existing retail portion of the property.; and
- its acquisition of a 106-acre, 450,000-square-foot conference center in the New York suburbs, and in retaining a hotel/center manager to manage the property.
- A foreign investor in connection with:
- its investment in two joint ventures developing senior living facilities in New York City;
- its acquisition of a minority stake in a real estate joint venture that holds a diverse group of 25 properties in the western US;
- its acquisition of a 49 percent stake in a real estate joint venture wholly owned by a US-based real estate fund, which JV holds a diverse real estate portfolio; and
- its joint venture investment for an approximate 40% equity interest in a mixed-use office/retail/residential project in Austin, Texas.
- Sempra Energy (NYSE: SRE) in the US$1.275 billion acquisition by Oncor Electric Delivery Company LLC, a subsidiary of Sempra, of InfraREIT, Inc., which owns electrical power lines, substations and transmission towers in Texas, We also advised Sempra Energy in the acquisition of a 50% limited partnership interest in a holding company that will own Sharyland Utilities, LP, a Texas-based electric transmission utility owned by members of the Hunt Family.
- Carlyle Power Partners in the US$590 million acquisition of three natural gas-fired generation facilities in New England, known as Bridgeport Energy, Tiverton Power and Rumford Power.
- An international private equity fund based in Hong Kong, in its investments in joint ventures for two office tower projects and a luxury residential condominium project, all in New York City, and its subsequent disposition of a portion of such investments.
- A Middle East-based sovereign wealth fund in its acquisition of two luxury hotels for an aggregate price exceeding US$400 million, with one hotel Washington D.C and the other in New York City.
- Calpine Corporation in its US$17 billion sale to Energy Capital Partners, an energy-focused private equity firm, and a consortium of investors including Access Industries and Canadian Pension Plan Investment Board.
- FRHI Holdings Limited (FRHI), Qatar Investment Authority (QIA) and Kingdom Holding Company of Saudi Arabia in the US$2.9 billion stock-and-cash sale of FRHI, the parent company of luxury hotel brands Fairmont, Raffles and Swissôtel, to AccorHotels.
- HGA Real Estate US Invest LLC in connection with:
- its sale of five multi-family properties located Texas and related partial defeasance of the mortgage loan secured by such properties; and
- its five refinancing loans in the aggregate amount of $62.7 million, secured by five multi-family properties.
- UNIZO Holdings Company, Limited in its acquisition of three office towers located in New York City with an aggregate purchase price of nearly $400 million.