Sale-Leasebacks, Ground Leases and Other Hybrid Leasing Transactions

Examples of our leading-edge work include innumerable sale-leaseback and tri-party OpCo/PropCo transactions that have enabled our client VICI Properties Inc. to acquire Caesars Palace Las Vegas, The Venetian, MGM Grand and other iconic properties on the Las Vegas Strip as well as numerous regional gaming-resort properties in the United States and Canada and lease them to their respective operators; an “estate for years” agreement enabling client The Walt Disney Co. to develop its Manhattan headquarters and own the property for 99 years; the acquisition and 99-year leaseback of a California property for client Safehold Inc.; and a 99-year ground lease by a private school of a parking garage on New York City’s Upper East Side to be converted to a school facility and submitted to a leasehold condominium regime to unlock a property tax exemption.