February 20, 2018 (Los Angeles) – International law firm Proskauer today announced the arrival of transactional lawyers Don Melamed and Albert W. Stemp as partners in its Los Angeles office. Their arrival follows a number of high-profile additions to the Firm’s private investment fund and real estate offerings globally, including private equity real estate partners Joanne Owen and Vikki McKay, real estate finance partner Paul Lucas in London, and private investments funds partner Monica Arora in New York.
“We are delighted to welcome Don and Al to the Firm. Proskauer has been a trusted advisor to the real estate and private investment fund industries for decades, and we continue to develop our offering to meet the strategic needs of our clients,” said Jeffrey A. Horwitz, co-head of Proskauer’s Private Equity Real Estate Group. “Their diverse experience representing private equity real estate and alternative asset funds, REITs and strategic investors fits perfectly with our already market-leading practices.”
- Mr. Melamed represents institutional investors and asset managers in investment and fund-related matters with an emphasis on forming buy-out, mezzanine, distressed debt, real estate and venture capital funds. He also has an expertise in incentive arrangements, co-investment transactions, spin-outs and all other matters related to the formation and operation of asset management businesses. In addition, he advises institutional investors and family offices in connection with both primary and secondary transactions across the asset class. He received his J.D. from Loyola Law School and his B.A. from the University of California, Irvine. He joins the Firm from O’Melveny & Myers.
- Mr. Stemp advises clients in a broad array of real estate transactions, including private equity funds, REITs, institutional capital sources and hospitality companies. In addition, he represents lenders and borrowers in all types of real estate finance transactions, including mortgage, mezzanine and construction loans. An acclaimed lawyer in Chambers USA, Mr. Stemp received his J.D. and M.A. from the University of Colorado at Boulder, and his B.A. from The Pennsylvania State University. He joins the Firm from Hogan Lovells.
“Don and Al are extraordinarily talented lawyers with tremendous national reputations, and we are excited to welcome them to the firm,” said Michael Woronoff, head of the Firm’s Los Angeles office. “They are strong additions to our Los Angeles office as we continue the strategic growth of one of the premier transactional practices on the West Coast.”
Proskauer handles virtually every type of matter for the real estate industry, from acquisitions, dispositions, financings and recapitalizations to real estate taxation, public, private and non-traded REITs, joint ventures, fund formations, roll-ups and spin-outs, creditors’ rights and bankruptcy and restructurings. Recent high-profile matters include representing AccorHotels (EPA:AC) in its $2.9 billion acquisition of FRHI Hotels & Resorts; Morgan Stanley (NYSE:MS) as financial advisor to Starwood Waypoint (NYSE: SFR) in its $20 billion merger with Invitation Homes (NYSE: INVH); New York REIT Inc. (NYSE:NYRT) in its $1.725 billion sale of a 48.7 percent stake in One Worldwide Plaza to SL Green Realty Corp. (NYSE:SLG) and RXR Realty LLC; and affiliates of Extell Limited in connection with the financing of $1.34 billion in loans for the construction of Central Park Tower.
Proskauer has one of the largest private investment fund practices globally and in the past 12 months alone has advised sponsors in closing more than 90 funds with over $41 billion in committed capital. The Firm offers a full suite of services for the investment management industry, with a market-leading global team dedicated solely to advising asset managers, investment funds and their advisers, financial institutions and institutional investors across the asset class. The cross border team of over 130 lawyers is based in the U.S., UK, Asia and Latin America and includes specialists in tax, ERISA, regulation, financial services, employment, insurance, fund finance, litigation and risk management who understand the unique technical and commercial issues relevant to investment managers.