Conrad Steele

Partner

Dallas + 1.214.969.4543

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Conrad Steele represents real estate investors, owners, and operators in complex commercial real estate transactions throughout the United States across various asset classes, including data center, industrial, multifamily, single-family rental, office, and hotel projects.

Conrad's practice encompasses the entire life cycle of a real estate asset, from assisting clients in acquiring real estate, capitalizing the asset through joint ventures and other equity vehicles, obtaining permanent or construction debt, counseling on asset refinancings and equity restructurings, advising on property and asset management issues, and assisting clients in disposing of real estate assets of all types.

With a particular emphasis on helping clients navigate issues and negotiate agreements throughout the real estate asset capital stack, Conrad regularly represents equity and sponsor clients in single-asset and programmatic joint ventures, including preferred and common equity ventures, and serves as borrower lead counsel for clients obtaining mortgage, mezzanine, construction, and permanent debt. Conrad also assists clients in restructuring and reorganizing existing debt and equity arrangements, including loan workouts.

Experience

  • TriGate Capital sells Raleigh office buildingJones Day advised TriGate Capital, LLC in the sale of an office building located in Raleigh, North Carolina.
  • Investment management firm acquires stake in Manhattan office buildingJones Day advised an investment management firm in acquiring a minority interest of a Manhattan office building.
  • TriGate Capital provides preferred equity for acquisition of a retail portfolio in TexasJones Day advised TriGate Capital, LLC in the provision of preferred equity for the acquisition of a retail portfolio located in Central and East Texas by TriGate's Growth and Income Partnership.
  • Southern Power sold minority interest in solar portfolio to Global Atlantic Financial Group for $1.175 billionJones Day advised Southern Power Company in its $1.175 billion sale of a 33% minority interest in its solar portfolio to Global Atlantic Financial Group Limited.
  • Total, NOVA, Borealis form venture for U.S. Gulf Coast projectsJones Day advised Total Petrochemicals & Refining USA, and affiliates of Austria’s Borealis AG and Canada’s NOVA Chemicals (both affiliates of the UAE’s Mubadala Investment Company) in the formation of a joint venture to build a $1.7 billion, 1 million ton per year ethane cracker in Port Arthur, Texas, acquisition of Total’s existing 400,000 ton per year two-line polyethylene plant in Bayport, Texas, and building of a new 625,000 ton per year Borstar PE plant at the Bayport site.
  • National Response Corporation acquires Progressive Environmental Services, Inc. (also known as SWS Environmental Services)Jones Day advised long standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the acquisition by portfolio company National Response Corporation of Progressive Environmental Services, Inc. (also known as SWS Environmental Services).
  • Thackeray Partners forms $350 million Thackeray Partners Realty Fund V, L.P.Jones Day advised Thackeray Partners L.P. in connection with the formation of Thackeray Partners Realty Fund V, L.P., a $350 million real estate fund focusing on rental housing (multifamily, apartments and rental housing) and industrial warehouses throughout the U.S.
  • SHV Energy acquires propane businesses of American Midstream Partners for $170 millionJones Day advised SHV Energy N.V. in the $170 million acquisition of the propane businesses (Pinnacle Propane, LLC, Alliant Gas, LLC and Pinnacle Propane Express, LLC) of American Midstream Partners, LP (“AMID”).
  • Kildare Partners forms Kildare European Partners II worth $2 billionJones Day advised Kildare Partners US, LLC in the formation of Kildare European Partners II, a $2 billion real estate investment fund focusing on opportunities in Europe for direct investments in commercial real estate or performing or distressed commercial real estate loans.
  • Mill Creek develops mixed-use residential and retail project in Portland, OregonJones Day advised Mill Creek Residential Trust LLC in connection with the development of a mixed-use residential and retail project in Portland, Oregon including, inter alia, negotiation of joint venture agreement with institutional equity investor and construction financing with PNC Bank.
  • J.F. Lehman acquires BEI Precision Systems & Space CompanyJones Day advised long standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the acquisition and related financing of PSSC Holding Co. and its wholly owned subsidiary, BEI Precision Systems & Space Company, Inc., a leader in high-accuracy positioning sensor technologies, providing advanced design, manufacturing, and testing for reliable and resilient products and systems.
  • Investment banking and securities firm provides $95 million secured term loan and revolving credit facility in connection with acquisition of midstream and upstream oil and gas assetsJones Day represented the administrative and collateral agent in a $95 million secured term loan and revolving credit facility in connection with the acquisition of midstream and upstream oil and gas assets in Kentucky, West Virginia, and Virginia.
  • DTE acquires M3's Appalachia Midstream assets for $1.3 billionJones Day advised DTE Energy in its $1.3 billion acquisition of 100 percent of Appalachia Gathering System and 55 percent of Stonewall Gas Gathering, both midstream natural gas assets located in the Appalachia region, from M3 Midstream LLC and Vega Energy Partners.
  • NexPoint makes $125 million Preferred Equity CommitmentJones Day represented NexPoint Advisors, L.P. ("NexPoint"), an affiliate of Highland Capital Management, L.P., in connection with an investment by funds affiliated with NexPoint in a $125 million Preferred Stock Equity Commitment with Jernigan Capital, Inc. ("JCAP"), a NYSE-listed real estate investment trust that invests in and provides loans to developers and operators of self-storage facilities.
  • J.F. Lehman portfolio company acquires Aircraft Appliances & EquipmentJones Day advised long-standing client J.F. Lehman & Company, a leading mid-market private equity firm focused on the defense, aerospace, and maritime sectors, in connection with the acquisition and related financing by portfolio company Aeronautical & General Instruments, a manufacturer of a wide range of instruments and systems for the defense and civil markets worldwide, of Aircraft Appliances & Equipment, a designer, manufacturer, and distributor of equipment for aircraft and naval ships.
  • Newell Brands acquires Jarden Corporation for $16 billionJones Day advised Newell Brands Inc. in connection with its acquisition of Jarden Corporation in a cash and stock transaction valued at $60 per share, or approximately $16 billion in equity value.
  • Cimarron Energy acquires Diverse Energy SystemsJones Day advised Turnbridge Capital Management, LLC in connection with the acquisition and related financing by portfolio company Cimarron Energy Inc. of substantially all of the assets of Diverse Energy Systems, LLC and its affiliates pursuant to a Section 363 sale in bankruptcy.
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    April 2016 Commentary

    Department of Justice FCPA Pilot Program Outlines Incentives for Corporate Self-Disclosure and Cooperation: What's New and Will It Matter?

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