Represented an ownership group that includes owners of MLS's DC United and English championship soccer club Swansea City in the acquisition of a majority stake in the Australian National Basketball League's Brisbane Bullets.
Represented KABR Group in the $120 million joint venture to acquire 600 Columbus Avenue, a 14-story multifamily building plus additional air rights on Manhattan’s Upper West Side. The property, spanning the block between 89th and 90th Streets, features 166 apartments, 27,500 square feet of retail space, and 100 parking spots. The acquisition is the largest single multifamily purchase in New York City in 2023.
Represented Break the Floor Productions in a groundbreaking dance industry transaction. TZP Group (“TZP”), a multi-strategy private equity firm, made strategic investments in Break The Floor Productions and Star Dance Alliance to create Dance One Holdings, LLC, the largest holding company of dance brands in the world. This investment represents the largest institutional investment in the dance industry as of the date of the deal.
Represented an accredited fully online design college in its acquisition by a venture capital firm specializing in higher learning opportunities.
Representation of privately owned real estate investment and advisory firm, as managing member of programmatic joint venture with value-oriented REIT focusing on investment in institutional quality real estate to acquire and operate medical office buildings, together with other potential healthcare related properties across U.S. markets.
Represented clients in internal restructuring of real estate family office restricting and facilitating entity simplification plan to implement client desired future business goals, involving more than 80 entities.
Represented automated, vertically integrated, and on-demand apparel manufacturing and customization platform in its acquisition of the outstanding equity of a subsidiary of a provider of digital commerce solutions. In connection with the equity purchase, the Herrick team also negotiated several commercial agreements, including a client services agreement and a transition support agreement between the buyer and the seller.
Represented Churchwick Partners in a multi-million dollar preferred equity raise from a specialty finance group to fund the acquisition of a portfolio of extended stay hotels.
Represented Marcus & Millichap, Inc., a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, in its acquisition of Metropolitan Capital Advisors (MCA), a commercial real estate finance intermediary specializing in arranging debt and equity for commercial real estate on behalf of developers, investors and owners.
Represented longtime client in the purchase of an online concrete fastener company that involved complex tax issues. Advised on intellectual property matters involving proprietary business systems and software.
Represented owners of a high-end retail clothing company in the successful transfer of the assets and brand to a competitor.
Represented the owners of Break The Floor Productions, a preeminent dance entertainment company, encompassing touring theatrical productions, dance workshops, photo and video production, corporate events and apparel in its acquisition by an investment entity.
Advising private equity firms, family offices and other institutional investors in multiple investment opportunities in special purpose acquisition company (SPAC) transactions in a variety of industries.
Represented Legends Hospitality Holding Company, LLC (“Legends Hospitality”) in majority investment by private equity firm Sixth Street in the global premium experiences company, co-founded by the New York Yankees and the Dallas Cowboys. As reported by Legends, “[t]he new investment from Sixth Street will support the long-term growth of the Company’s global client relationships and further enhancements to its innovative 360-degree platform of premium experience offerings for the most iconic global brands in sports, entertainment, and attractions.”
Herrick has represented Legends since its inception in 2008, when our Sports Law Group worked with the Cowboys and the Yankees, along with two private equity firms, to form this ground-breaking joint venture. Initially, Legends focused on delivering enhanced concessions and premium experiences. Since its formation, Legends’ range of services has grown to include six worldwide divisions and it has partnered with many iconic international sports, entertainment and attractions brands.
Represented long-standing client Legends Hospitality in its entry into a share purchase agreement with the private equity firm Sixth Street. Under the share purchase agreement, Sixth Street acquired a controlling interest in Legends Hospitality. This investment will support Legends continued growth as a premium experiences company that specializes in delivering holistic solutions for sports, entertainment and attractions clients.
In connection with the acquisition, Legends Hospitality (i) issued senior secured long-term notes and (ii) entered into a revolving credit facility and PIK facility. The net proceeds were used to redeem certain outstanding equity securities of Legends Hospitality and for working capital and general corporate purposes.
In order to preserve Legends Hospitality’s liquidity and support its continued investment in accretive, long-term capital projects, affiliates of Sixth Street and other third parties will provide Legends Hospitality with access to funding provided by an investment vehicle. The funding will be used for capital expenditures, pre-opening costs and other disbursements contemplated by contracts entered into by Legends Hospitality.
