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Prime Outlets Transaction Recognized in The American Lawyer's "Big Deals" Column
- Awards
- March 24, 2010
Practices
In the "Big Deals" section under "Deals in Brief," Paul, Weiss was recognized for the representation of Prime Outlets Acquisition Company and certain of its affiliated entities in the disposition of their outlet shopping center business to Simon Property Group, Inc., the largest public U.S. real estate company.
The transaction, in which the owners of Prime Outlets Acquisition Company will receive cash as well as units of Simon's operating partnership, was valued at approximately $2.325 billion, including the assumption of Prime Outlets' existing indebtedness and preferred stock. The transaction was one of only four deals in the sector larger than $500 million and involving a U.S. party since August 2009.
The Paul, Weiss team representing Prime Outlets included corporate partners Eric Goodison, John Kennedy, Jeff Marell and Bob Schumer, and associates Ricky Fong, Danielle Gaier, Daniel Levine, Brett Nadritch, Barry Spatzer, Judith Tomkins, Michael Wong and Karina Yamada; real estate partner Peter Fisch and associates Brandilyn Dumas, Leslie Horton, Julia Milne and Andrew Wurzburger; tax partner Jeff Samuels and associates Lee Hepner, John Hynes and David Levine; employee benefits partner Larry Witdorchic, associate Erin Murphy and former associate Lauren Voss; and environmental counsel Bill O'Brien.