Akin Gump today announced that David S. Phelps has joined the firm as a partner in its firmwide real estate practice, resident in Los Angeles. Mr. Phelps, who has nearly three decades of industry experience, primarily represents private equity funds, capital market clients and other institutional investors in the acquisition, development, financing and restructuring of various projects, with an emphasis on the hospitality sector. He joins from Paul Hastings where he was co-chair of the Global Hospitality Practice Group.
“David is a terrific addition to our deep and experienced real estate finance practice,” said Akin Gump chairperson Kim Koopersmith. “His skills and background complement the work our real estate team does for clients across the firm. I am delighted to welcome him as a partner.”
Mr. Phelps represents institutional real estate companies, capital providers and private equity investors in the acquisition, development, financing, management, licensing, and work-out and restructuring of hotels, condo-hotels, resorts, casinos, golf courses and other hospitality based assets as well as core real estate assets, including office buildings, luxury apartments, student housing, industrial properties and shopping center projects. Mr. Phelps joins Akin Gump’s firmwide team of real estate transactional lawyers with focuses on hospitality, office, retail, multi-family and industrial properties, finance, leasing, restructuring and workouts.
“David’s broad experience in the real estate industry will resonate strongly with our clients and add substantial depth to our nationwide real estate private equity and hospitality practices,” said Frank Reddick, partner in charge of Akin Gump’s Los Angeles office. “Having a skillset of this caliber, particularly with his many years of real estate finance work, made David very attractive to us, and I know our clients will benefit from his presence here.”
Mr. Phelps added, “We have seen so many changes in the real estate industry in the past decade. After the worst recession since the Great Depression, there has been a dramatic increase in both the number and size of the deals we do for clients, with both international and domestic investors seeking out real estate transactions. I am incredibly optimistic about the real estate market in 2015 and very excited by the opportunity to continue my work in this industry at a firm like Akin Gump.”
He continued, “The opportunity to join Akin Gump, which has a strong and established real estate team to go along with deep experience in the private equity space, was quite appealing. I look forward to contributing to the continued growth of the firm’s real estate practice as well as to introducing my own clients to the exceptional team here.”
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