What types of clients does the real estate capital markets group work with?
Fryer: King & Spalding’s client base has a large concentration of U.S.-based and non-U.S.-based operating companies in diverse industries. It consists of developers, public REIT fund sponsors, traditional investment managers, investment banks, and private sponsors. It includes tax-exempt and taxable non-institutional and institutional and retail placement investors. Editor: Tell us about recent projects in which you have been involved? Arnold: The work we do in our real estate capital markets group falls into three categories. First, Bill is very active in the public to private phenomenon that has been taking place over the last year and a half on behalf of GE, Morgan Stanley and its Prime Property Fund and ING Clarion. There were transactions involving the acquisition of publicly traded REITs by private investment funds. For instance, GE acquired Arden Realty, an office building REIT; Morgan Stanley acquired Amli, a multi-family REIT; and ING Clarion acquired Gables, another multi-fam
