Morgan Stanley pushed J.P. Morgan Securities LLC off the first-place pedestal and took the lead among financial advisers in the real estate investment trust M&A league tables by deal credit in the third quarter.
The firm, which logged $6.09 billion in deal credit for its role advising Cousins Properties Inc. in its acquisition of TIER REIT Inc. and Industrial Property Trust Inc. in its pending sale to Prologis Inc., was fourth in the ranking after the second quarter.
Deutsche Bank Securities Inc. and J.P. Morgan Securities rounded out the top three financial advisers by deal credit through the third quarter with deal credit of $5.28 billion and $4.94 billion, respectively.
Hogan Lovells was the top legal adviser by deal credit with $6.44 billion at the end of the third quarter. The firm advised Park Hotels & Resorts Inc. in its purchase of Chesapeake Lodging Trust, as well as Phillips Edison Grocery Center REIT III Inc. in its announced sale to Phillips Edison & Co. Inc. and Industrial Property Trust in its pending sale to Prologis.
Goodmans LLP and Greenberg Traurig LLP rounded out the top three legal advisers with deal credit of $5.79 billion and $4.28 billion, respectively.
