Kyle M.Baltes

Partner

Chicago + 1.312.269.4341

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Kyle Baltes represents a diverse mix of private and publicly traded companies, private equity real estate firms, institutional investors, REITs (real estate investment trusts), real estate funds, developers, and real estate operators and managers on a broad range of commercial real estate transactions, with a particular emphasis in the sale and acquisition of portfolios and individual real estate assets, equity recapitalizations, and joint ventures. Kyle regularly leads transactions spanning a variety of asset classes, including industrial and logistics, hospitality, multifamily and student housing, office, data centers, life science, retail, and build-for-rent/single-family rentals.

Kyle also has broad experience in real estate finance transactions, including multifamily agency loans, construction and development loans, CMBS (commercial mortgage-backed securities) and securitized loans, and mezzanine financings. In addition, relying on his deep experience and extensive industry knowledge, Kyle serves as an advisor to general counsel and executives at real estate investment, management, and portfolio companies on emerging asset management issues that carry strategic business and legal significance.

Kyle's recent notable transactions include the acquisition of several marquee, full-service hospitality assets located in Florida, New York, South Carolina, Washington D.C., and Wyoming; a multibillion dollar Sun Belt multifamily portfolio acquisition; the disposition of multiple logistics portfolios with assets located in Georgia, Texas, and Virginia; the disposition of a retail center in California; and a joint venture to form a core multifamily portfolio of assets located in California, Massachusetts, Virginia, and Washington.

Experience

  • Blue Flag Capital acquires Alpenhof LodgeJones Day advised Blue Flag Capital in the acquisition of the Alpenhof Lodge, a 39-key hotel located in Teton Village, Wyoming, by a vehicle managed by Blue Flag Capital.
  • Blue Flag Capital acquires Snake River Lodge and SpaJones Day advised Blue Flag Capital in the acquisition and financing of the Snake River Lodge and Spa, a 93-key hotel and spa located in Teton Village, Wyoming, by a vehicle managed by Blue Flag Capital.
  • LaSalle completes $510 million joint venture with UDRJones Day represented LaSalle Investment Management in its $510 million joint venture with UDR, Inc. (NYSE: UDR) to create a portfolio of core multifamily assets in key markets across the U.S.
  • Henderson Park acquires D.C. Mandarin OrientalJones Day represented Henderson Park Capital Partners in its joint venture with Salamander Hospitality, LLC and the joint venture's $139 million acquisition and financing of the D.C. Mandarin Oriental, a 373-room luxury hotel located in the Southwest waterfront area of Washington D.C. 
  • Wells Fargo provides $370 million syndicated loan secured by 30 limited-service hotelsJones Day represented Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as left lead arranger and sole bookrunner, in connection with a $370 million syndicated senior loan secured by 30 limited-service hotels located across 17 states.
  • Greystar acquires $2 billion portfolio from The Finger CompaniesJones Day represented Greystar Real Estate Partners LLC in connection with a $2 billion acquisition of a portfolio from The Finger Companies.
  • Henley sells two Manhattan apartment buildingsJones Day advised Henley Investment Management Limited in its sale of 409 and 413 East 84th St., two contiguous apartment buildings in the Yorkville neighborhood of the Upper East Side of Manhattan.
  • Henderson Park and South Street Partners acquire Palmetto Bluff Montage Hotel and ResortJones Day represented Henderson Park Capital Partners in its joint venture with South Street Partners and the joint venture's acquisition and financing of Palmetto Bluff, a 20,000-acre single family residential and resort community in the Lowcountry of South Carolina, situated between Charleston and Savannah.
  • Playboy acquires sexual wellness chain LoversJones Day advised Playboy Enterprises Inc. in its $25 million acquisition of TLA Acquisition Corp., the parent company of the Lovers family of stores, a leading omni-channel online and brick-and-mortar sexual wellness chain, with 41 stores in five states.
  • Transwestern forms joint venture to develop Stanmore Warner Ranch in Round Rock, TexasJones Day advised Transwestern Investment Group on the formation of a joint venture to develop Stanmore Warner Ranch, a 336-unit multifamily project in Round Rock, Texas.
  • Affiliate of Transwestern Investment Group forms joint venture to develop industrial and warehouse buildingsJones Day advised an affiliate of Transwestern Investment Group in its joint venture to purchase certain real property in California and develop industrial and warehouse buildings.
  • Furukawa Electric and Superior Essex global joint venture finalizedJones Day advised Furukawa Electric Co., Ltd. in its finalization of a global joint venture with Superior Essex Inc.
  • Five9 acquires Virtual Observer, formerly known as CSIJones Day advised Five9, Inc. in its acquisition of Virtual Observer, formerly known as CSI, an innovative provider of cloud-based Workforce Optimization (WFO), also known as Workforce Engagement Management (WEM), solutions.
  • Western Digital sells ActiveScale™ business to QuantumJones Day advised Western Digital Corporation's subsidiary Western Digital Technologies, Inc. in the sale of its ActiveScale™ business to Quantum Corporation.
  • Western Digital acquires Kazan NetworksJones Day advised Western Digital Corporation (NASDAQ:WDC) in its acquisition of Kazan Networks Corp., a provider of industry leading NVMe™-over-Fabric (NVMe-oF) ASIC and adapter products for next-generation data center architectures.
  • Cineworld Group completes asset monetization strategies in United States through cinema sale-leaseback transactionsJones Day advised UK headquartered, Cineworld Group PLC in connection with an asset monetization strategy in the United States involving a combined cash consideration of $556.3 million cinema sale-leaseback transactions to convert a substantial portion of Cineworld’s U.S. real estate holdings into cash to leverage its equity and optimize efficiency.
  • Henderson Park forms Henderson Park Real Estate Fund I ("HPREF I")Jones Day represented Henderson Park Capital Management in the formation of Henderson Park Real Estate Fund I ("HPREF I"), a $2.2 billion pan-European opportunistic and value added real estate investment fund, and in the Fund's related subscription-based credit facility.
  • Transwestern sells 3.5 million square foot industrial real estate portfolioJones Day advised Transwestern Investment Group in connection with the disposition of a 3.5 million square foot industrial real estate portfolio.
  • Lamb-Weston/RDO Frozen obtains $70 million credit facilityJones Day represented Lamb-Weston/RDO Frozen, a joint venture of RDO Frozen Co. and Lamb-Weston/Midwest, Inc., in connection with a $70 million credit facility with Coöperatieve Rabobank U.A., New York Branch, as administrative agent and lender, and Bank of America, N.A., as lender.
  • Huntington Ingalls sells Avondale Shipyard in Jefferson Parish, LouisianaJones Day advised Huntington Ingalls Industries, Inc. in the sale and seller financing of the Avondale Shipyard, a 254-acre shipyard located on the Mississippi River in Jefferson Parish, Louisiana.
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