Daniel M. LeBey
I 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. Daniel’s principal areas of practice are capital markets and securities law, private equity, fund and joint venture formation, mergers and acquisitions, and corporate governance matters. He has a particular focus on transactions involving real estate investment trusts (REITs).
He advises companies and their sponsors through the entire life cycle of the business from formation through the initial public offering process, and thereafter with respect to equity and debt capital markets transactions, SEC reporting and compliance, mergers, acquisitions and other strategic transactions, and corporate governance. Daniel also regularly serves as counsel for the underwriters in capital markets transactions and also advises boards of directors and special committees on strategic transactions and other governance matters.
In addition to businesses focused on the real estate and mortgage industries, Daniel advises clients in a variety of other industries ranging from technology to manufacturing to infrastructure. Before law school, Daniel worked as an analyst at a New York bank, where he developed a strong foundation in corporate finance. He spent his early years as an attorney focusing on bank M&A deals before becoming a real estate capital markets lawyer. He leverages this background together with his deep understanding of clients’ businesses and industries to provide tailored, practical, creative legal guidance to help clients meet their objectives. Daniel is ranked by Chambers USA as a Band 1 lawyer nationally in REITs where reviewers note that “he is one of the premier REIT corporate lawyers in the business,” and “his judgment, experience and accessibility are invaluable” (2021).
Daniel also serves as the managing partner for V&E’s Richmond office.
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; and its $250 million ATM program
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 its recent $109 million public offering of common stock; its $84 million public offering of common stock; its $76 million public offering of common stock; its $115 million public offering of Series A fixed-to-floating rate cumulative redeemable preferred stock; and its $86 million investment grade offering of senior notes and subsequent note exchange
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
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
Jera Asset Management and Setzer Properties in the formation of a joint venture with the Australian Superannuation Pension Fund, including the roll-up of a seed portfolio of net leased trucking terminal and logistics properties valued at approximately $500 million into the joint venture
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), 2007–2021
- Legal 500 U.S., Capital Markets: Equity Offerings, 2017 and 2019; Real Estate: REITS, 2017-2021; Capital Markets: Debt, 2019; Construction, 2015
- The Best Lawyers in America© (BL Rankings, LLC), (Richmond): Corporate Law, Securities/Capital Markets Law, 2019−2022
- Member: National Association of Real Estate Investment Trusts
- Member: Princeton Association of Virginia, President 2007-2009
- Georgia
- Virginia
- Deals & CasesJanuary 11, 2022
- Deals & CasesDecember 8, 2021
- Deals & CasesOctober 22, 2021
- Deals & CasesOctober 15, 2021
- Deals & CasesJuly 9, 2021
- Event RecapJune 28, 2021
- Deals & CasesJune 17, 2021
- Deals & CasesJune 14, 2021
- Deals & CasesApril 12, 2021
- Deals & CasesMarch 18, 2021
- Rankings & AwardsAugust 20, 2020
- Deals & CasesAugust 13, 2020
- Deals & CasesJuly 9, 2020
- Rankings & AwardsJune 16, 2020
- Rankings & AwardsApril 23, 2020
- InsightMarch 30, 2020
- InsightMarch 26, 2020
- InsightMarch 6, 2020
V&E REIT Update
- Event RecapFebruary 12, 2020
- Deals & CasesJanuary 21, 2020
- InsightJanuary 10, 2020
V&E Energy Update
- V&E+April 15, 2019
- V&E+July 26, 2018
- Deals & Cases
- “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)