Arnold & Porter Client, DLJ Real Estate Capital Partners, Receives WBJ Real Estate "Deal of the Year" Recognition

Washington, DC, April 28, 2011 - Arnold & Porter played a major role in Washington Business Journal’s 2010 real estate “Deal of the Year.” The deal was the long awaited sale of the West*Group portfolio of properties and land in Tysons Corner, Virginia, which closed in July 2010. The award was announced on Thursday, April 28, 2011 at the Best Real Estate Deals of 2010 event at the Mayflower Renaissance hotel in DC. Arnold & Porter represented DLJ Real Estate Capital Partners, a real estate fund operating out of New York, in its purchase of the portfolio.

The portfolio included 24 buildings and 115 acres of land. The private off-market transaction was the largest portfolio of properties to trade in the region in 2010. The portfolio has redevelopment potential of several million square feet due to Fairfax County’s land use plan for transit oriented development around new Silver Line Metro stations which will open in Tysons Corner in 2012. The portfolio is being managed by Cityline Partners -- a group of former West*Group executives -- which is a DLJRECP subsidiary. In late December 2010, Arnold & Porter assisted DLJ and Cityline in the sale of seven of the buildings to PS Properties.

Lead Arnold & Porter attorneys on the deal were George Covucci and Amy Rifkind.