Fried Frank acted as counsel to Spirit MTA REIT (“SMTA”) and its independent directors in the sale of the assets in the Company's Master Trust 2014 (the “Trust”) and three assets presently owned by Spirit Realty Capital, Inc. (“Spirit”) to Hospitality Properties Trust (“HPT”) for a purchase price of $2.4 billion subject to customary purchase price adjustments. SMTA is a net-lease real estate investment trust (REIT) that invests in single-tenant, operationally essential real estate. SMTA is externally managed by Spirit. The closing of the sale is subject to customary conditions, including the receipt of SMTA shareholder approval, and is expected to occur in the later part or end of the third quarter of 2019 or in the fourth quarter of 2019.
The Fried Frank team was led by corporate partners Philip Richter and Erica Jaffe and included corporate partners Darren A. Littlejohn, J. Christian Nahr, and Steven G. Scheinfeld; litigation partner Michael C. Keats; real estate litigation partner Matthew D. Parrott; restructuring and insolvency partners Brad Eric Scheler and Peter B. Siroka; and tax partner Alan S. Kaden; corporate special counsel David M. McDonald; corporate real estate special counsel Melissa A. Meyrowitz; corporate associates Meka Jegede, Thomas C. Katsiotas, Ariana Omar, Anne Catherine Podolsky; environmental associates Samuel K. Dykstra and Mary Beth Phipps; litigation associate Ben Paull; restructuring and insolvency associate Andrew Minear; tax associate Ryan L. Conley; and corporate law clerk Ethan B. Kamer.