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Daniel M. LeBey
Daniel M. LeBey
Partner — Capital Markets and Mergers & Acquisitions
Partner — Capital Markets and Mergers & Acquisitions

Daniel M. LeBey

Daniel M. LeBey
Richmond

901 East Byrd Street
Suite 1500
Richmond, Virginia 23219

start quote symbolI represent a wide variety of clients, but there’s one common theme among my best clients: creative, hard-working people who have a vision and the drive to make that vision reality. It’s fun to help clients like that realize the dream they’ve created from inception through the whole business life cycle.end quote symbol
Daniel M. LeBey

Capital Markets

  • Underwriters to NETSTREIT Corp. in its $233 million Rule 144A offering of common stock; its $259 million initial public offering of common stock; its $204 million public offering of common stock its $250 million ATM program; its $230 million public offering of common stock and its $182 million public offering of common stock

  • Ellington Financial Inc. (in its current REIT form and its prior publicly traded partnership form) in its initial public offering and all of its subsequent capital markets transactions including five follow-on underwritten public offerings with an approximate transactional value of $440 million; its two ATM offerings with an approximate transactional value of $250 million; its $120 million public offering of Series B fixed-rate reset cumulative redeemable preferred stock; its $115 million public offering of Series A fixed-to-floating rate cumulative redeemable preferred stock; its two investment grade offerings of senior notes with an approximate transactional value of $296 million and its subsequent note exchange; and its $100 million public offering of Series C fixed-rate reset cumulative redeemable preferred stock

  • Ellington Residential Mortgage REIT in its recent $43 million public offering of common shares by an affiliate of The Blackstone Group, Inc., as selling shareholder, and its $47 million public offering of primary common shares

  • Flagship Healthcare Trust, a private REIT that owns medical office buildings and other healthcare properties in the United States, in its REIT formation transactions and subsequent equity rounds valued at more than $250 million; Flagship Healthcare Properties, LLC in the $20 million investment by TriPost Capital of Flagship Healthcare Operating Partnership, LP’s preferred units and its $35 million private placement of Series A preferred stock

  • Underwriters to PLH Group, Inc. in its $208 million Rule 144A offering of class A-1 common stock

  • Underwriters to Urstadt Biddle Properties, Inc. in its $115 million public offering of Series H cumulative redeemable preferred stock 

  • Underwriters to Clipper Realty Inc. in its $88 million initial public offering of common stock

  • Global Medical REIT Inc. in its $150 million initial public offering of common stock and all of its subsequent capital markets transactions including five follow-on underwritten public offerings with an approximate transactional value of $343 million; three ATM offerings with an approximate transactional value of $250 million; and its $77 million public offering of Series A cumulative redeemable preferred stock

  • American Residential Properties, Inc. in its formation transactions, its $300 million pre-IPO private offerings of common stock, its $330 million initial public offering of common stock, and all of its subsequent equity and debt capital markets transactions

  • Issuer’s counsel in numerous initial and follow-on public equity offerings, private offerings of common stock under Rule 144A and Regulation S, private placements under Regulation D, and public and private offerings of preferred equity and debt securities

  • Underwriters’ counsel for leading regional, national, and international investment banking firms in numerous initial and follow-on underwritten public and private offerings of equity and debt securities

  • A public real estate investment trust in its $530 million joint venture with a private holding company that develops, manages, and operates multifamily properties

  • Setzer Properties, LLC, a national real estate investment and development firm focused on industrial, office and retail spaces, in the roll-up of eight properties and formation of Setzer Properties Fund I, LLC, a new private investment fund

  • Jera Asset Management and Setzer Properties in formation of a joint venture with the Australian Superannuation Pension Fund, including the roll-up of a seed portfolio of net leased transportation terminal and logistics properties

  • Global Medical REIT in its $18.1 million acquisition of Inter-American Management resulting in a management internalization

  • Oncor Electric Delivery Company in its $2.2 billion acquisition of InfraREIT

  • NorthStar Realty Finance in its approximately $16 billion combination with NorthStar Asset Management Group and Colony Capital in an all-stock merger of equals

  • Special Committee of the Board of Directors of MVP REIT II in the acquisition of MVP REIT by MVP REIT II in a stock-for-stock merger

  • Special Committee of the Board of Directors of Moody National REIT I in the merger of Moody National REIT I and Moody National REIT II

  • American Residential Properties, Inc. in its $1.4 billion stock-for-stock merger with American Homes 4 Rent 

  • Blackstone Group LP in its formation and capitalization of a private residential mortgage REIT 

  • Northern Pacific Group in its formation and capitalization of a private investment fund focused on SFR properties 

  • Sandpiper Hospitality in its formation of 7 different private investment funds and a private REIT focused on extended stay hotels 

Credentials

  • University of Georgia School of Law, J.D., 1992 (Editorial Board, Georgia Law Review)
  • Princeton University, A.B., English, Distinction in American Studies Program, 1987
  • Chambers USA, REITs (Nationwide), 2007–2023
  • Legal 500 U.S., Capital Markets: Equity Offerings, 2017 and 2019; Real Estate: REITs, 2017–2023; Capital Markets: Debt, 2019; Construction, 2015
  • The Best Lawyers in America© (BL Rankings, LLC), (Richmond): Corporate Law, Securities/Capital Markets Law, 2019−2024
  • Member:  National Association of Real Estate Investment Trusts
  • Member:  Princeton Association of Virginia, President 2007-2009
  • Georgia
  • Virginia
  • “2019 Kayo Women’s Real Estate Summit,” June 24, 2019 (moderator)
  • “Why Do Property REITs Have Operating Partnerships,” REIT Series, V&E New York Office, May 28, 2019 (speaker)
  • “Qualified Opportunity Funds, Real Estate, and REITs,” REIT Series, V&E New York Office, February 20, 2019 (speaker)
  • “Trends in REIT Corporate Governance,” REITworld: 2018 Annual Conference, November 7, 2018 (speaker)
  • “REITs,” 2018 Kayo Women’s Real Estate Summit, April 24, 2018 (moderator)
  • “REITs and Infrastructure Investment,” V&E New York Office, April 18, 2018 (presenter)
  • “IRS Issues Guidance on Elective Cash Stock Dividends by REITs,” V&E REIT Update E-communication, August 16, 2017 (co-author)
  • “2017 Kayo Women’s Real Estate Investment Summit,” April 24-25, 2017 (speaker)
  • “Alternative Capital: 144A Equity Offerings and Special Purpose Acquisition Companies,” V&E Houston Office, February 22, 2017 (speaker)
  • REO Investment and Rental Roundtable, June 18, 2012
  • “REITs – Past, Present & Future”, American Securitization Forum Annual Conference, January 2012 (Moderator)