Michael Brody is a member of the firm's Tax Department and former Chair of the firm's Retirement and Recruiting Committees. He has extensive experience in issues relating to real estate investment trusts, and is Global Co-Chair of the firm’s REIT Industry Group.
Mr. Brody's practice focuses upon the taxation of partnerships and corporations, including REITs, in a variety of US and international contexts, including:
- Partnership and corporate formation transactions
- REIT roll-up, conversion, and IPO transactions
- Mergers and acquisitions
- Securities offerings
- Restructuring and insolvency work
Mr. Brody is regularly recognized as a leading attorney, including by Chambers USA for domestic tax work, by Chambers USA and The Legal 500 US for his work with REITs, and by the International Tax Review in the World Tax Guide. Mr. Brody is ranked Band 1 in Capital Markets: REITs – Chambers USA 2012-2016 and is cited as "phenomenal tax REIT expert" and "exceptionally bright, practical and pragmatic," "considered by some to be the preeminent REIT tax attorney in the USA" and "an incredible lawyer who thinks and analyzes problems like no one else."
He is a frequent lecturer on tax issues and was licensed as a certified public accountant in 1981.
Mr. Brody has represented numerous REITs, investment banks, and property owners in a variety of REIT transactions including conversions of existing businesses into REITs, roll-ups, mergers and acquisitions, operational issues, public offerings, private placements, ruling requests, and liquidations. He has also represented partnerships, including investment funds, which include private REITs in their investment structure.
Mr. Brody has advised on hundreds of security offerings, raising in excess of US$80 billion in proceeds for REITs.
Mr. Brody’s REIT experience includes work for the following REITs, either as counsel to the REIT or its investment bankers:
- AMB Property Corporation (now Prologis)
- American Assets Trust
- Arden Realty
- BRE Properties
- Center Trust, Inc.
- Chatham Lodging Trust
- Colony Starwood Homes
- CoreCivic (f/k/a Corrections Corporation of America)
- CyrusOne, Inc
- Digital Realty Trust
- Douglas Emmett
- HCP, Inc.
- Hudson Pacific Properties
- InfraREIT, Inc.
- Kilroy Realty
- Kimco Realty
- MGM Growth Properties
- MPG Office Trust
- National Golf Properties
- National Storage Affiliates
- Pan Pacific Retail Properties
- Parkway Properties
- Phillips Edison & Company
- Realty Income Corporation
- Rexford Industrial Realty
- Spirit Realty Corporation
- Sunstone Hotel Investors
- Tanger Factory Outlet Centers
- Ventas, Inc.
In the mergers and acquisitions area, Mr. Brody has in recent years represented:
- Digital Realty in its pending US$7.6 billion acquisition of Dupont Fabros Technology
- Phillips Edison in its pending US$1 billion sale of its real estate assets to Phillips Edison Grocery Center Operating Partnership
- Global Logistics Properties in its US$1.1 billion acquisition of the US logistics portfolio of Hillwood Development Company
- Global Logistics Properties in its US$4.5 billion acquisition of Industrial Income Trust
- Digital Realty Trust in its US$1.89 billion acquisition of Telx
- Extra Space Storage in its US$1.4 billion acquisition of SmartStop Self Storage
- CoreCivic (Corrections Corporation of America) in its US$157.5 million acquisition of Avalon Correctional Services, Inc.
- Hudson Pacific in its acquisition of a US$3.7 billion portfolio from The Blackstone Group
- Griffin-American Healthcare REIT II (special committee) in its US$4 billion sale to NorthStar Realty Finance Corp.
- BRE Properties in its US$16 billion merger with Essex Property Trust, Inc.
- MPG Office Trust, Inc. in its merger with an affiliate of Brookfield, with a transaction value of US$2.3 billion
- Spirit Realty Capital, Inc. in its US$7.4 billion merger with Cole Credit Property Trust II
- Realty Income Corporation in its US$2.95 billion acquisition of American Realty Capital Trust
- Kennedy Wilson, Inc. in its US$1.8 billion acquisition of a real estate loan pool from the Bank of Ireland
- American Assets Trust, Inc. in its roll-up acquisition of more than US$1.7 billion in real estate assets
- Realty Income Corporation in its US$544 million acquisition of thirty three properties from ECM Realty Trust
- AMB Property Corporation in its US$14 billion merger of equals with Prologis, Inc.
- Pacific Medical Buildings in its joint venture with Nationwide Health Properties to acquire 18 medical office buildings (MOB) from Pacific Medical Buildings, a 50/50 interest in its property management company and a pipeline agreement for US$1 billion of new MOB development