Davis Polk advised affiliates of Seritage Growth Properties in connection with a joint venture with affiliates of The Howard Hughes Corporation for the redevelopment of the Landmark Mall, located in Alexandria, Virginia. The multi-phase, mixed-use redevelopment project will be comprised of 51.5 acres of land and is expected to dramatically increase the existing development’s impact on Alexandria’s West End.

Seritage Growth Properties is a publicly traded REIT primarily engaged in releasing and redeveloping its 253 property portfolio into first class multi-tenanted shopping centers. The portfolio contains over 40 million square feet of building space across 49 states and Puerto Rico. Seritage was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015. The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the United States. Its assets include The Seaport District in New York; The Woodlands, The Woodlands Hills and Bridgeland in the Greater Houston, Texas area; Summerlin, Las Vegas; and Ward Village in Honolulu, Hawaii.

The Davis Polk real estate team included partners Brian S. Lichter and Brian D. Hirsch. All members of the Davis Polk team are based in the New York office.

Roberts & Holland LLP advised Seritage on tax matters.

The Howard Hughes Corporation was represented by in-house counsel.

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