Mr. Hudson is co-chair of the Real Estate Capital Markets Practice Group. His practice focuses on the corporate and securities aspects of REITs and other real estate investment vehicles, including IPOs, follow-on equity offerings and private placements. A seasoned veteran of the real estate capital markets space, Mr. Hudson has assisted clients in raising many billions of dollars of equity capital. He has formed publicly traded, nontraded and private REITs and other real estate investment vehicles, structured their operations and advised them on board advisory and compliance issues.
Mr. Hudson focuses exclusively on the middle market: non-traded and private REITs, real estate entrepreneurs and platforms exploring the capital markets, and emerging listed REITs, in most cases those with a market capitalization of less than $3 billion.
Mr. Hudson frequently counsels real estate entrepreneurs and real estate platforms who are considering entering the capital markets and helps them strategize about how to do so.
With more established sponsors, he helps them figure out how to supercharge their equity capital-raising while abiding by all relevant securities laws.
An area of special focus--what at D&S we like to refer to as a “power niche”--has involved helping both issuers and potential bidders in thinking about their “mini-tender offer” strategies-- defensive and offensive, respectively. In so doing, Mr. Hudson has developed expertise in that specialized corner of the real estate capital markets.
He also deals regularly with DTCC’s Alternative Investment Product (AIP) platform and “back-office” securities custody issues.
During his tenure at Duval & Stachenfeld, Mr. Hudson has represented, among others:
a sponsor in negotiations to acquire an alternative investment distribution network;
an emerging manager in the offering of a real estate investment vehicle under the new “Regulation A+”;
self-managed non-traded REITs in their responses to unsolicited mini-tender offers;
a sponsor in the structuring of a $2 billion non-traded mortgage REIT;
a sponsor in the launch of a $200 million private fund targeting commercial real estate debt;
a US platform in the planning of a synthetic security intended to allow US investors to invest in Latin American CRE debt through a first-of-its-kind trust structure;
a sponsor in devising a unique exchangeable security product; and
a sponsor in the placement of interests in a private fund intending to hold a multifamily portfolio.
Mr. Hudson joined Duval & Stachenfeld in 2015 from Proskauer Rose, where he was a member of the Chambers-ranked Capital Markets – REITs team. His major representations while at Proskauer included American Realty Capital, The Lightstone Group, RCS Capital Corporation, InvenTrust Properties Corp. and United Realty.
Prior to joining Proskauer, Mr. Hudson was an associate at Skadden, Arps, Slate, Meagher & Flom.
A graduate of Harvard Law School and Harvard College, Mr. Hudson has authored articles on real estate capital markets topics and has been described by clients as a “connector” within the industry. He is a member of the Legislative & Regulatory Committee of ADISA and of NAREIT.
Mr. Hudson is admitted to practice in New York.