DLA Piper advises Oxford Properties in acquisition with CPPIB of south portion of St. John's Terminal site for US$700 million

DLA Piper represented Oxford Properties Group in a joint venture with the Canada Pension Plan Investment Board (CPPIB) in the acquisition of a portion of New York City's historic St. John's Terminal site south of West Houston Street from Westbrook Partners and Atlas Capital Group for US$700 million.

The 3.25 acre site features 600 feet of Hudson River frontage in the Hudson Square submarket of Midtown South. The existing St. John's Terminal structure, built in 1934 as the rail freight terminus to the High Line, features soaring ceiling heights and over-sized floorplates. Oxford will own a 52.5% interest and manage the development on behalf of the Oxford-CPPIB partnership. CPPIB will own the remaining 47.5% interest.

The DLA team was led by US Real Estate practice chair John Sullivan and partner Cara Nelson (both Boston), and also included partners Robert LeDuc (Minneapolis and Chicago), Bruce Wickersham and Primo Fontana (both Boston), Stephen Sharkey, Lee Sheller, Mark Friedman and Joseph Langhirt (all Baltimore), Allan Bowen (Minneapolis), Rita Patel and Harriet Lipkin (both Washington, DC), of counsel Lucien White and Naftali Dembitzer (both New York), staff attorney Andrew Ratelle (Minneapolis), and associates Brian Donnelly (New York), Janessa Griffin (Chicago), Donovan Powell (Atlanta), Robert Yamartino, George Lilov and Taylor Tremble (all Boston), Bradley Phipps (Philadelphia), and paralegal Luci Correia.

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