Real estate investment trust DDR Corp. has turned to Jones Day for counsel on its $1.46 billion purchase of a portfolio of 30 prime shopping centers from its existing joint venture with The Blackstone Group and the private equity firm’s longtime lawyers at Simpson Thacher & Bartlett.
The Am Law Daily reported last year on the roles Simpson and Jones played advising Blackstone and DDR, respectively, on their $1.43 billion joint acquisition of 44 U.S. shopping centers from an affiliate of Tel Avivbased Elbit Imaging Ltd. At the time, Blackstone Real Estate Partners VII announced it would own 95 percent of the joint venture, which included nearly $1 billion in debt, while DDR was to hold the remaining 5 percent stake.
