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King & Spalding Represents Morgan Stanley Real Estate's Prime Property Fund in $2 Billion Acquisition


04 May 2007
DEAL NEWS

ATLANTA, May 4, 2007--King & Spalding, a leading international law firm, represented Morgan Stanley Real Estate and its flagship core real estate investment vehicle, Prime Property Fund, in its recent acquisition and financing of three trophy office assets in downtown San Francisco—One Market Plaza, One Maritime Plaza and 150 California Street.

The towers aggregate more than 2 million square feet of A/A+ office space and were purchased from Blackstone Real Estate Advisors for approximately $2 billion, as a follow-on transaction to the $39 billion Blackstone/EOP merger consummated a few months ago. The acquisition of One Market Plaza included preferred equity and senior debt financing structures that required several weeks to complete. The firm was engaged as fund general counsel for Prime Property Fund in 2004, and we have assisted Morgan Stanley as it has grown the Fund's assets from approximately $2 billion in 2004 to over $8 billion in 2007, the San Francisco office acquisition being one of the highlights of these efforts.

Some of the lawyers who have worked regularly on these matters, including the San Francisco office portfolio, are:

Real Estate
Timothy Goodwin (partner, Atlanta)
Timothy Sullivan (associate, Atlanta)

Tax
Peter Genz (partner, Atlanta)
Mark Davis (associate, Atlanta)
Svetoslav Minkov (associate, Atlanta)

ERISA
Donald Kohla (partner, Atlanta)
Jan Marsh (consultant, Atlanta)

About King & Spalding
King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Dubai, Houston, London, New York, Riyadh (affiliated office) and Washington, D.C. The firm represents half of the Fortune 100, and in a Corporate Counsel survey in August 2006 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit www.kslaw.com.

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