Evan Hudson is an acknowledged leader among a new generation of real estate capital markets lawyers.
He draws on skills honed over more than a decade of concentration in the structuring of real estate investment vehicles, including private funds, REITs (publicly traded, non-traded and private), DSTs and Qualified Opportunity Funds.
Evan has made a conscious decision not to spread himself too thin with a broad corporate practice, and the resulting depth of knowledge is what sets him apart. His technical writings are widely read, and Evan’s clients rave about his ability to provide business guidance that goes far beyond the value of the legal services provided.
In fact, since 2008, Evan has advised clients in raising billions of dollars of equity capital. These funds have flowed to sponsors through IPOs, follow-on public offerings and private placements, creating a voluminous track record of helping clients to grow our nation’s cities and infrastructure.
With respect to asset management, on the institutional side, Evan represents some of the largest private REITs in the world. On the retail side, Evan helps sponsors tap the large and growing pool of capital controlled by “mass affluent” and high-net-worth private clients. Whether representing successful real estate entrepreneurs or the most sophisticated institutional asset managers, Evan helps them to build durable and lucrative retail-facing businesses while abiding by all relevant securities laws.
Regarding publicly traded REITs, Evan advises on disclosure issues and corporate matters. He understands the criticality of raising funds to execute business plans, and he knows the market and enjoys helping managers to achieve their most ambitious goals.
Evan is also among the nation’s leading advisors in the retail alternative investment space. His knowledge extends to non-exchange-traded, portfolio-diversifying investments such as perpetual-life NAV REITs, lifecycle REITs, “Reg D” products, DSTs and Qualified Opportunity Funds. He frequently writes and speaks on such topics, and he has participated in writings issued by the Investment Program Association (now the Institute for Portfolio Alternatives). He also serves on the Legislative & Regulatory Committee of the Alternative & Direct Investment Securities Association.
In addition to helping with capital-raising, Evan brings unique experience in advising issuers as they respond to hostile mini-tender offers and assert their rights vis-à-vis commercial counterparties. Evan also deals regularly with DTCC’s Alternative Investment Product (AIP) platform, “back-office” securities custody issues and transfer agency matters.
Prior to joining Stroock in 2018, Evan spent three years as the co-chair of the Real Estate Capital Markets Practice Group at Duval & Stachenfeld LLP.
- Sovereign Partners in its formation of a commercial real estate fund to acquire value-add office properties.
- A multinational asset manager in the restructuring of its $43 billion private real estate fund.
- A private real estate investment company in its sponsorship of a DST focused on retail investors and targeting single-tenant triple-net-lease assets.
- A TIC sponsor in its syndication of equity interests to investors.
- JPMorgan in private REIT and corporate matters.
- Carr Properties in private REIT matters.
- The Lightstone Group in the development of a private real estate offering.
- A multi-product non-traded REIT sponsor in reviewing its advertising initiatives.
- An emerging non-traded REIT sponsor in negotiations to acquire an alternative investment distribution network.
- A sponsor in its launch of a “mini-IPO” under Regulation A.
- Highlands REIT in:
- its responses to unsolicited mini-tender offers;
- its agreements with securities custodians;
- AIP matters; and
- general corporate and securities matters.
- A self-managed non-traded REIT in matters relating to its transfer agent.
- A $2 billion-plus self-managed non-traded REIT in general corporate and securities matters.
- A private opportunistic-focused real estate company in the structuring of a $2 billion non-traded mortgage REIT.
- First Capital in its formation of a $200 million private REIT to acquire commercial real estate debt.
- A U.S. platform in the planning of a synthetic security intended to allow U.S. investors to invest in Latin American CRE debt through a first-of-its-kind trust structure.
- An emerging west coast-based sponsor in devising a unique REIT-related exchangeable security product.
- An east coast-based multifamily investor in the placement of interests in a private fund intending to hold a multifamily portfolio.
- Cantor Fitzgerald Investors in the negotiation of purchase agreements for net-lease real estate assets.
- A private investment company in its public company investments.
- A music streaming service company in its leasing matters.
- American Realty Capital Properties (now VEREIT) in:
- several follow-on offerings of shares of common stock, including its raise of approximately $1.6 billion in net proceeds; and
- the proposed spin-off of its multi-tenant shopping center business into ARCenters, a publicly traded REIT.
- American Realty Capital New York Recovery REIT (now New York REIT) in its $1.7 billion initial public offering.
- RCS Capital Corporation in its $50 million initial public offering and a $503 million follow-on / secondary offering.
- The Lightstone Group in:
- a $50 million self-tender offer by its first non-traded REIT, as well as the filing of a registration statement on Form S-3D for the entity’s distribution reinvestment program;
- the $324 million follow-on offering for its second non-traded REIT, as well as the filing of a registration statement on Form S-3D for the entity’s distribution reinvestment program;
- the $395 million initial public offering of its third non-traded REIT; and
- the $395 million initial public offering of Lightstone Real Estate Income Trust, a non-traded mortgage REIT.
- United Realty Trust Incorporated in its initial public offering.
- Inland American Real Estate Trust (now InvenTrust Properties) in:
- its spin-off of a portion of its lodging portfolio into publicly traded REIT Xenia Hotels & Resorts; and
- its responses to several unsolicited third-party mini-tender offers.
- Inland Real Estate Corporation in connection with its underwritten public offering of $97 million of preferred stock.
- The advisor and dealer manager of United Development Funding Income Fund V in the REIT’s $1.0 billion initial public offering.
- Phillips Edison – ARC Grocery Center REIT II, its advisor and its dealer manager in the REIT’s $2.5 billion initial public offering.
- A publicly traded REIT in a proposed common stock PIPE offering.
- A non-traded REIT in its bid to acquire a $200 million portfolio of multifamily joint ventures.
- The audit committee of a non-traded REIT in negotiations with inside directors relating to advisory fees, which were settled favorably with the execution of a restated advisory agreement.
- Ares Commercial Real Estate Corporation in its $142 million initial public offering.
- FundCore Institutional Income Trust, its dealer manager and its advisor, an affiliate of Dividend Capital Group, in the mortgage REIT’s $750 million initial public offering.
- BofA Merrill Lynch and the other underwriters in the proposed initial public offering of Morgan Properties Trust.
- Barclays Capital and the other underwriters in a $284 million follow-on offering for Cypress Sharpridge Investments (now CYS Investments).
- Merrill Lynch & Co. and the other underwriters in a $436 million follow-on offering for Host Hotels & Resorts.
- The underwriters in proposed public offerings by Vornado Realty Trust.
Honors & Awards
- Real Estate Weekly Rising Stars 2019
- ADISA, Legislative & Regulatory Committee
Speeches & Events
- Speaker, “Non-Traded REITs: What You Need to Know,” Strafford CLE webinar, June 13, 2019
- Speaker, “Equity Capital-Raising Options for Real Estate Sponsors,” Association of Corporate Counsel webinar, May 16, 2019
- Moderator, “REITs: Reg A+,” ADISA 2017 Spring Conference, April 3, 2017
- Guest speaker, “The Legal Climate for IPOs, Reg D, Non-Traded and More,” BB&T Capital Markets conference call, June 22, 2016
- Panelist, “Investing in REITs,” Family Office Networks New York City Conference, May 25, 2016
- Co-author, “SEC Clarifies: No Special Treatment for Qualified Opportunity Zone Funds,” Stroock Special Bulletin, July 24, 2019
- Co-author, “Will QOFs Cannilbalize the 1031 Industry?” Alternative Investments Quarterly, Spring 2019
- Co-author, “SEC Proposes Offering Reforms for BDCs And Registered Closed-End Funds,” Stroock Special Bulletin, March 26, 2019
- Co-author, “Opportunity Zone REITs — A Path to the Retail Market?” Stroock Special Bulletin, March 22, 2019
- Co-author, “QOF vs. 1031—Which Tax Deferral Structure Should I Use?,” Commercial Observer, March, 11 2019
- Author, “What Real Estate Asset Managers Need to Know About DSTs,” Real Estate Weekly, February 4, 2019
- Author, “Why Retail?,” Alternative Investments Quarterly, Summer 2018
- Author, “The Reg A+ Limit May Increase to $75 Million. Does it matter?” The DI Wire, April 23, 2018
- Author, “How to Lay Off Equity in Your Real Estate Portfolio — While Retaining Control,” October 9, 2017
- Author, “Mini-Tender Offers – The Good, The Bad And The Ugly,” The DI Wire, February 20, 2017
- Author, “Crowd-Fund a Commercial Real Estate Deal? Not Quite Yet,” Mortgage Observer, March 2014
- Author, “C-Corp to REIT: What’s behind today’s conversion trend?” Commercial Investment Real Estate Magazine, November/December 2013
- Co-Author, “A Guide to Non-Traded REITs,” Practical Law Company, 2013
- “Out of the Comfort Zone: Newbies Take to Opportunity Zones,” Commercial Observer, January 22, 2019
- “Stroock & Stroock & Lavan’s Evan Hudson on Non-Traded REITs and Mini-Tender Bidders,” Commercial Observer, October 12, 2018
- “Cushman IPO Pits Debt Against Market Stability,” CoStar, July 25, 2018
- “An insider’s guide to real estate syndication,” The Real Deal, December 5, 2017
- “Conference Report: Reg-ucation,” Real Estate Investment Times, June 27, 2017
Admitted To Practice
J.D., Harvard Law School, 2007
A.B., magna cum laude, Harvard College, 2004
In The Spotlight
NewsBack To Full Bio
November 5, 2019 | New York Real Estate Journal
Byrd, Doukas and Hudson are NYREJ’s ‘Ones to Watch’
October 28, 2019 | National Real Estate Investor
Evan Hudson Discusses REITs and Acquisitions
September 18, 2019 | Globe St.
Evan Hudson Discusses Non-Traded REITs in Globe St. Feature
June 7, 2019
Stroock Receives Honors in 16 Practices from The Legal 500 United States 2019: 41 Stroock Lawyers Recognized
April 25, 2019 | Real Estate Weekly
Trevor Adler and Evan Hudson Named Real Estate Weekly “Rising Stars”
March 11, 2019 | Commercial Observer
Evan Hudson, Mayer Greenberg and Brian Senie Published in Commercial Observer
February 4, 2019 | Real Estate Weekly
Evan Hudson Published in Real Estate Weekly
January 22, 2018 | Commercial Observer
Evan Hudson Quoted in Commercial Observer
October 12, 2018 | Commercial Observer
Evan Hudson Interviewed in “Stroock & Stroock & Lavan’s Evan Hudson on Non-Traded REITs and Mini-Tender Bidders”
July 25, 2018 | CoStar
Evan Hudson quoted in “Cushman IPO Pits Debt Against Market Stability”
May 8, 2018 | Property Funds World
Evan Hudson, Jeff Keitelman and Chris Doyle quoted in “Stroock adds real estate capital markets lawyer as Partner”
May 7, 2018
Former Co-Chair of Real Estate Capital Markets Group Joins Stroock
May 7, 2018 | Real Estate Finance & Investment
Evan Hudson mentioned in “People moves: Stroock adds Hudson to capital markets team”
PublicationsBack To Full Bio
July 24, 2019 | Stroock Special Bulletin
SEC Clarifies: No Special Treatment for Qualified Opportunity Zone Funds
April 18, 2019 | Alternative Investments Quarterly
Will Qualified Opportunity Funds Cannibalize the 1031 Industry?
March 22, 2019 | Stroock Special Bulletin
Opportunity Zone REITs — a Path to the Retail Market?
March 26, 2019 | Stroock Special Bulletin
SEC Proposes Offering Reforms for Business Development Cos. And Registered Closed-End Funds