Ballard Spahr
Since its founding in 1919, Ballard Spahr has grown to 15 offices nationwide. The firm launched in in Philadelphia and this remains its largest office, closely followed in scale by Baltimore and Washington DC.
Focusses / specialisms
The Phoenix, Arizona office is highly regarded for its top tier work in the state.
The firm is experienced in many practice area across its offices, including M&A, banking, capital markets, project development and real estate.
The Las Vegas, Philadelphia, Minneapolis and Phoenix offices are well known for its work in M&A. The M&A, the firm represents strategic buyers and sellers in acquisition related matters.
In capital markets, the firm represents issuers in bond offerings, share offerings and IPOs. The banking team represents borrowers in credit facilities, loan agreements, project financing and acquisition financing.
The project development team represents developers in P3 and private projects in the transportation, infrastructure, energy and oil and gas industries.
Real estate is a large focus firm wide, where the team represents commercial, residential and industrial developers, investors and REITs in real estate matters such as acquisitions, financing and development.
Key clients
Key clients for the firm include Slang Worldwide, SVCP Management, Concrete Pumping Holdings, Healthpeak Properties, City Office REIT, Kilroy Realty, Upsher-Smith Laboratories, State Bankshares, Greystone & Co, 8minute Solar Energy, Pacific Southwest Development, VICI Properties, PNC Bank, Brixmor Propery Group, Citizens Bank Park, Cascata Packaging, SilencerCo and Kodiak Cakes.
Research period review: 30th edition (2019/2020)
The firm has a diverse research cycle, with each office seeing different trends.
The teams in the Colorado offices advised strategic acquirers and sellers in acquisition related matters. Real estate and cannabis were popular industries for the Colorado teams. In financial matters, the team advised borrowers in ABL and term loan agreements and issuers in public share offerings.
The Baltimore, Maryland office advised borrowers in refinancings, credit facilities and mortgage loan agreements. It also advised issuers in public share offerings, ATM offering programs, bond offerings, tender offers, shelf registrations and derivatives. Many of its clients were real estate developers, investors or REITs. The team also advised clients in the real estate industry on property development matters.
The Minneapolis office represented strategic acquirers and sellers in acquisitions in the financial services and pharmaceutical industries.
The Las Vegas team represented real estate developers, financial sponsors and REITs in various real estate development projects and sales.
The Philadelphia team advised a private equity firm in an acquisition and a lender in several credit facility and ABL agreements. It also advised developers and public institutions in P3 and private projects in the social infrastructure, oil and gas and transportation infrastructure industries. A large part of its work was in advising real estate developers, investors and REITs in commercial and residential development projects and acquisitions.
The Salt Lake City off represented borrowers in a separate refinancing and term loan agreement. It also advised issuers in share offerings and strategic acquirers and sellers in merger and acquisition related matters. The team represented developers in residential and hotel real estate projects.
In terms of lateral moves, the Salt Lake City office brought over M&A partner Travis Marc Wilson from Jones Waldo Holbrook & McDonough. The Baltimore office brought over public finance partner John Smolen from Nossaman. The Philadelphia office lost partners James MacDonald III, who left for Stevens & Lee, Craig Circosta, who left for Holland & Knight, Peter Hennessy, who moved in-house and David Pollack, who retired.
Deal highlights: 30th edition (2019/2020)
C7 Data Centers merger with DB Data Center Holdings
City Office REIT 6.625% Series A preferred stock at-the-market share offering
IPS and Alleghany Capital acquisition of Cardinal Holdings
Slang Worldwide $67 million acquisition of Organa Brands’ National Concessions Group
Southern Bighorn 475MW solar and 540MWh storage project
WEX $425 million acquisition of Discovery Benefits
Brownstein Hyatt Farber Schreck
Brownstein Hyatt Farber Schreck was founded in 1968. Since then, it has expanded to 13 offices in in seven states.
Focusses / specialisms
The firm is top tier in Nevada in M&A and also highly regard in Colorado for its work in the financial and corporate practice areas. Key partners include Nicole Ament who is the chair of the real estate practice.
Though the firm does outstanding work in Nevada and Colorado, it also maintains teams in Washington DC, California, Wyoming, New Jersey and New Mexico.
In Colorado, the firm does great work in banking and finance, real estate and M&A. The banking and finance team represents borrowers in project financing, capital markets investments and securitizations.
The real estate team represents property developers and investors in commercial and residential real estate development and acquisition transactions.
The M&A team represents private equity and strategic buyers and sellers in acquisition and joint venture related acquisitions.
Key clients
Key clients for the firm include Blue & Silver, Etkin Johnson Real Estate Partners, Brue Capital, the Colorado Rockies, Bow River Capital Partners, Nexus Technologies, Caesars Entertainment, AmTrans Expedite and Encore Consumer Capital.
Research period review: 30th edition (2019/2020)
Over the research period the banking team advised borrowers, many of whom were private equity clients in confidential financing matters.
The M&A team continued to represent mostly strategic buyers and sellers in acquisition related matters. It also worked with private equity firms on M&A agreements.
The real estate team continued to represent developers and investors regarding commercial and residential real estate development projects in Colorado, largely in Denver.
In terms of lateral movements, real estate partner Ana Tenzer left for Hogan Lovells, real estate partner Noelle Riccardella left for Williams Weese Pepple & Ferguson and real estate of counsel left for Otten Johnson. In the corporate practice area, partner Darryl Landahl was brought over after serving in-house. Partner Christopher Reiss left for Polsinelli. In banking and finance, of counsel Jason Larkin was brought over from Bryan Cave Leighton Paisner and partner Mark Oveson left to become a software engineer.
Deal highlights: 30th edition (2019/2020)
Colorado Rockies $300 million mixed use entertainment district project
Nexus Technologies acquisition of Notonsite
Greenspoon Marder
Full-service business law firm Greenspoon Marder was founded in 1981. It has since grown to 15 offices and 10 other locations. The firm is best known for its work in Florida, where it has the greatest amount of offices.
Focusses / specialisms
Greenspoon Marder is best known for its work in the real estate industry. It represents property developers, owners and financiers regarding commercial and residential real estate in any type of real estate work. This includes acquisitions, development and financing.
Key clients
Key clients for the firm are confidential, but include real estate sellers, acquirers, property developers and lenders.
Research period review: 30th edition (2019/2020)
Over the research period, the firm represented clients in the real estate industry in property and land acquisitions, development and financing. All of its deals are confidential.
Holland & Hart
With 13 offices spread through Alaska, Colorado, Wyoming, Nevada, Idaho, Montana, Utah, New Mexico and Washington DC, Holland & Hart is a highly regarded business firm.
The firm was founded in 1947 in Denver, which remains the firm’s largest office. It is the largest Colorado-based firm as well as the largest firm in Wyoming.
Focusses / specialisms
The firm does exceptional work in financial and corporate practice areas, as well as in project development.
The firm has experience in capital markets, representing issuers in bond issuances, equity funding and recapitalizations.
In the M&A practice, the firm represents strategic sellers and acquirers in company acquisitions, asset acquisitions and strategic partnerships.
The firm’s project development and finance practice largely work on project financing. It represents developers in power purchase agreements, project acquisitions, acquisition financing and project funding. It is well known within the energy industry.
within the corporate practice firm-wide, 50% of partners are women.
Key clients
Key clients for the firm include Roaring Fork Wind, Flying Cow Wind, MGM Resorts International, Duke Energy Renewables, Summit Turquoise, Webroot, DCP Midstream, Caliber Midstream Partners, Jalex Holdings and Bow River Capital.
Research period review: 30th edition (2019/2020)
During the research period the Colorado offices engaged in a couple of capital markets transactions, specifically bond issuances, Series D funding and recapitalizations.
The M&A team acted mostly on the sell side in acquisitions.
The projects teams represented developers mostly in power purchase agreements and project sales. Renewable energy was a big industry for the team, especially wind and solar energy.
In the M&A practice the Colorado office hired partners Chuck Cotter and Finity Jernigan from Polsinelli. The Utah office saw partner Kristy Kimball join from Kimball Law. The Idaho office saw the departure of partner Tom Chandler.
Deal highlights: 30th edition (2019/2020)
Carbonite $619 million acquisition of Webroot
DCP Midstream $600 million 5.125% bond issue
Duke Energy Renewables acquisition of 60MW Palmer solar project
