Elizabeth K. McCloy

LIZ MCCLOY is the head of the Chicago Real Estate group and has over 35 years’ experience in real estate law, primarily in leasing, acquisitions and dispositions and development work. Liz provides solid experience in the management of large, international corporate real estate portfolios. She understands and has dealt with the issues relating to land acquisition, negotiation and documentation of development agreements (including agreements with municipalities and other units of government), joint venture agreements and other agreements related to the development and management of real estate, and all of this in the context of covering multiple jurisdictions and working with local counsel as required. She also counsels clients on the real estate aspects that come with the complexities of M&A, private equity and joint venture transactions.

Liz was selected for inclusion in The Best Lawyers in America for Real Estate since 2013.

A selection of Liz’s transactions include the following:

• JOLT, the global digital out-of-home (DOOH) and electric vehicle charging network, in its recently announced agreement to acquire a substantial portion of the Volta Media Network from Shell.
• GT Independence, a financial management services company that helps customers select and hire their own caregivers, in connection with its acquisition by H.I.G. Capital.
• Church Brothers Farms in its agreement to acquire the Mann Packing vegetables business from Fresh Del Monte Produce Inc. (NYSE: FDP).
• Ares Management Corporation in its US$1.1 billion acquisition of Meade Pipeline Co LLC.
• Herc Rentals in its sale of Cinelease to Zello.
• Thompson Street Capital Partners in its acquisition of Bubbakoo’s Burritos.
• The special committee of the board of directors of Nordstrom, Inc. (NYSE: JWN) in its US$6.25 billion acquisition by certain members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. (pending).
• Angel City Football Club (ACFC) in its relocation to a state-of-the-art performance center on the campus of California Lutheran University.
• Mastercard in its US$2.65 billion acquisition of global threat intelligence company Recorded Future (pending).
• Telephone and Data Systems, Inc. in the US$4.4 billion sale of U.S. Cellular Corporation's wireless operations and select spectrum assets to T-Mobile US, Inc.
• Rexel USA, Inc. in its acquisition of Talley, Inc., a distributor of wireless infrastructure products, services, and solutions in the U.S.
• HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd., on its US$350 million carve-out acquisition of Masimo Corporation’s Sound United consumer audio business. The acquisition will expand HARMAN’s audio offering, especially across core segments such as home audio, headphones, hi-fi components, and car audio. The acquisition is expected to close by the end of 2025.
• Kuvare Asset Management (KAM) in its US$750 million acquisition by alternative asset manager, Blue Owl Capital, including a potential US$250 million earnout.
• Churchill Downs, Inc. in numerous acquisitions and dispositions.
• American National Insurance in its US$5.1 billion acquisition by Brookfield Asset Management Reinsurance Partners. 
• Viterra BV in its acquisition of the Gavilon grains and ingredients business from Marubeni Corp.
• Deutsche Bank in the sale of its global real estate portfolio that involved properties in 70 countries and the retention and management of local counsel.
• Hines in its headquarters lease in Chicago to Kirkland & Ellis LLP.
• Cabela’s Incorporated in its sale to Bass Pro Shops for an aggregate value of US$5.5 billion. 
• Forterra in the sale-leaseback of a 4.0 million square foot, 49-property industrial portfolio located in the U.S. and Canada, to W.P. Carey Inc. for an aggregate purchase price of approximately US$217 million.
• GE on numerous acquisitions and dispositions.  
• GECC/Antares Capital on numerous acquisitions and dispositions.
• Starwood Hotels and Resorts Worldwide, Inc. in its portfolio sale to Host Hotels & Resorts.
• Welltower on numerous acquisitions and dispositions.
• CNL Hotels & Resorts, Inc. to Morgan Stanley Real Estate Fund V and Ashford Hospitality Trust, Inc., a transaction valued at US$6.6 billion.
• Global Signal Inc. in its acquisition of over 5,000 cell tower sites from Sprint Nextel.
• U.S. Cellular Corporation and Telephone and Data Systems, Inc. on numerous acquisitions and dispositions.
• All leasing work for the former Montgomery Wards Catalog Building which is a state-of-the-art office/telecom project in Chicago for over eight years.
• JPMorgan in a deed in lieu of foreclosure involving a multi-use, hotel office-retail building in Chicago, as well as the subsequent sale of such building.
• The Chicago Digital Broadcast Committee in connection with locating a permanent site for digital television transmission in Chicago.
• Saks Incorporated in its divestitures of its Northern Department Store Group, Proffitt’s/McRae’s stores and sale of its Parisian business.
• Aon PLC on numerous acquisitions and dispositions.

• SidleyWomen Chicago Committee, Chair for 20 years
• Women In Law Empowerment Forum, National Co-Vice Chair