Steven M. Lutt
Mr. Lutt advises domestic and international clients with respect to various real estate and corporate transactions.
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, golf club 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.
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.
- 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. Representation included negotiation of partnership agreement and all ancillary documentation and matters related thereto, including tax structuring of REIT, and structuring for syndication by the two initial investors.
- 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. Representation included negotiation of partnership agreement and all ancillary documentation and matters related thereto, including tax structuring of REIT, and structuring for syndication by the two initial investors.
- 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 a joint venture developing a senior living facility 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 retained a 51 percent interest. The JV holds a diverse group of real estate investments through its REIT subsidiaries.
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.
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.
A China-based asset management fund in three joint ventures in multi-family residential development projects, with properties located in Virginia, Illinois and Texas.
Meliã Hotels International S.A., one of the leading global hotel and resort owners and operators, in connection with the negotiation of a hotel management agreement for a new 500+ room hotel to be developed in New York City. Additionally, represented Meliã in connection with the negotiation of the hotel management agreement in connection with the redevelopment of a hotel in Miami Beach, Florida.
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 in the Houston area and related partial defeasance of the mortgage loan secured by such properties.
- Its five refinancing loans issued by a large institutional lender in the aggregate amount of $62.7 million, secured by five multi-family properties located in Texas and Maryland.
UNIZO Holdings Company, Limited (formerly Jowa Holdings Company, Limited) in its acquisition of three office towers located in New York City with an aggregate purchase price of nearly $400 million. The transactions also involved the negotiation of third party leasing and management agreements as well as a joint venture agreement.
Pegasus Capital Advisors, a US-based private equity fund manager, in connection with its acquisition of all of the resort and spa management contracts and related intellectual property rights relating to Six Senses and Evason-branded resort and spa properties throughout Asia, the Middle East, the Americas and Europe. The transaction was named "Merger & Acquisition Deal of the Year 2012" by HICAP (Hotel Investment Conference: Asia Pacific).
Qingdao Haier, a company that is 41% owned by the leading Chinese home appliance manufacturer Haier Group Corp., in its US$5.4 billion acquisition of GE's appliance business, through an auction process.
Fortis Inc. (TSX: FTS), Canada's largest publicly-owned distribution utility, in its US$11.3 billion acquisition of ITC Holdings Corp. (NYSE: ITC), an electric transmission company operating in the Great Lakes and Great Plains regions.