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Ryan Girnun represents investors, funds, developers, lenders, privately held and public companies, and REITs (real estate investment trusts) in a variety of real estate and financing matters. His practice includes the acquisition, disposition, financing, development, management, sale-leaseback, and leasing of commercial and residential real estate as well as restructurings and workouts.

Ryan routinely leads transactions across the United States involving diverse asset classes such as hospitality (including hotel management and franchise agreement matters), office, mixed-use development, health care real estate, data centers, industrial, multifamily, student housing, retail, vacant land, manufactured home communities, and self-storage.

During his career, Ryan has successfully negotiated and closed transactions across the United States exceeding US$15 billion in value, including several award-winning deals. Prior to joining Jones Day in 2022, Ryan's recent matters include the US$825 million acquisition of the Circus Circus hotel and casino on the Las Vegas Strip; the US$315 million sale of a portfolio of office buildings and vacant land in Orlando, Florida; obtaining a US$400 million CMBS (commercial mortgage-backed securities) loan secured by a luxury casino resort; the US$200 million sale of a seven-property senior nursing portfolio across multiple states; the formation of a programmatic joint venture to acquire up to US$300 million of ambulatory surgical centers and the closing of a revolving credit facility for acquisitions; and the US$240 million joint venture, acquisition, financing, and repositioning of a four-data center portfolio.

Ryan has also handled the origination of billions of dollars of acquisition and construction loans to finance real estate projects.

Ryan is a member of the Urban Land Institute and The Americas Lodging Investment Summit planning committee.


  • VSE Corporation acquires Turbine Controls, Inc.Jones Day advised VSE Corporation in the $120 million acquisition of Turbine Controls, Inc., a provider of maintenance, repair and overhaul (MRO) support services for complex engine components, as well as engine and airframe accessories, across commercial and military applications.
  • Invitation Homes acquires Tennessee homesJones Day is advising Invitation Homes Inc. in the acquisition of a new residential community located in Lebanon, Tennessee.
  • Invitation Homes acquires The Reserve at Timberlands and Moss Pointe CommunityJones Day advised Invitation Homes L.P. in the acquisition of The Reserve at Timberlands and Moss Pointe Community, two recently constructed single-family build-to-rent communities in North Atlanta, Georgia.
  • Invitation Homes completes $650 million acquisition of single-family rental home portfolioJones Day represented Invitation Homes (NYSE: INVH), as buyer, in connection with its portfolio acquisition of nearly 1,900 single-family rental homes for a purchase price of approximately $650 million.
  • Invitation Homes acquires Las Casas at WindroseJones Day represented Invitation Homes LP in connection with its acquisition of Las Casas at Windrose, an entire subdivision of Build-to-Rent 2-story homes in Litchfield Park, Arizona.
  • The following represents experience acquired prior to joining Jones Day.

    The acquisition, disposition, and financing of dozens of select service and full-service hotels across the United States on behalf of affiliates of the Blackstone Group, including the negotiation of management and franchise agreements.

    The acquisition of luxury hotels located in New York City and Washington, D.C. for a combined purchase price exceeding US$430 million.

    RNLN Real Estate Advisors' sale of the Clevelander South Beach Hotel and Essex House, two iconic hotels in the historic Miami Beach Art Deco District and a related bar facility at Miami Marlins Park.

    The US$65 million sale-leaseback of a downtown Miami Holiday Inn (Winner, Hotel Category, Daily Business Review, "Top Dealmakers of the Year" 2016).

    The acquisition, financing, and development of a US$1 billion mixed-use project located in Miami-Dade County, Florida that included retail, residential, and office space.

    The acquisition, development, financing, and disposition of dozens of projects that include single family residential, multifamily, condominium, retail, and office, including the US$197 million sale of a mixed-use student housing project located in Philadelphia, Pennsylvania. The building is one of the tallest student housing projects in the United States.

    The joint venture, acquisition, and financing of a three-phase, mixed-use development in Miami, Florida featuring five towers with nearly 1,000 apartment units as well as retail and public amenities.

    The acquisition of a portfolio of office buildings located in New York City with a purchase price in excess of US$375 million.

    The US$262 million acquisition and financing of a 34-story office building located in South Florida (Winner, Office Category, Daily Business Review "Top Dealmakers of the Year" 2012).

    The origination of a US$1.7 billion acquisition loan secured by industrial facilities located across the United States.

    The origination of more than US$1 billion of mortgage loans by life insurance companies secured by diverse asset classes, including office, multifamily, hospitality, mixed-use, and industrial.

    Obtained acquisition, development, and construction financing for projects located across the United States, including a US$105 million construction loan for a mixed-use development located in New York and a construction loan facility of up to US$100 million for the construction and development of a mixed-use project located in Central Florida.

    The leasing of co-working space throughout the United States for WeWork and the leasing of office, warehouse, industrial, hospitality, and data center space in multiple jurisdictions.

    The acquisition, disposition, and financing of dozens of health care real estate assets across the United States for a privately held REIT, including assisted living, senior nursing, memory care, and medical office buildings.

    The US$250 million recapitalization and restructuring of a portfolio of nearly 50 medical facilities by a group of health care providers.

    The acquisition and financing of a mixed-use data center/office property located in Portland, Oregon that, at the time, was the largest single asset transaction in Oregon in more than five years.

    The restructuring, repositioning, and disposition of a US$2 billion portfolio of loans and REO (real estate owned) properties.

    The US$1.65 billion purchase of power generation assets across the United States, including 18 operating power plants.

    The acquisition and repositioning of multiple portfolios of distressed mortgage loans and REO properties amounting to nearly US$350 million in unpaid principal balances.

    The US$163.2 million acquisition of a 15-property, 1.4 million square foot, self-storage portfolio located across 4 states and the assumption of existing debt encumbering multiple facilities.