Latham Advises StepStone Real Estate in US$985 Million Manager-Led Secondary Transaction

GID, the US-based real estate investment management firm, announced the formation of a new joint venture with an affiliate of StepStone Real Estate, the real estate arm of global private markets investment firm StepStone Group (Nasdaq: STEP), and the closing of a US$985 million manager-led secondary in an 8 million-square-foot industrial portfolio. One of the largest US industrial transactions year to date, the portfolio comprises 87 buildings across eight major US markets.

Latham & Watkins LLP represented StepStone Real Estate in the transaction with a Real Estate team led by partners Michael Haas and Mark Semotiuk, with associates Jacob Axelrod, Marcelo Garza, Jennifer Lan, and Carela Mendez. Advice was also provided on tax matters by partner Gregory Hannibal, with associate Nicholas Sun.