Gregory E. Spitzer is a partner in the Real Estate practice of the Paul Hastings Chicago office. He represents public and private companies and private equity firms in connection with acquisition, disposition, and financing transactions. Mr. Spitzer’s practice includes all aspects of commercial real estate acquisitions and dispositions, development, leasing, financing, and re-structuring matters. Mr. Spitzer has a particular focus in the areas of real estate restructurings and structured leasing transactions, including synthetic leasing, sale-leaseback, and leverage lease transactions.

Mr. Spitzer previously served on the board of directors of a public real estate and securities company. He also previously served as an Adjunct Professor of Law at the University of Minnesota School of Law and as a guest lecturer at Northwestern Law School and DePaul University School of Law. He has authored or co-authored numerous articles and publications in the commercial real estate area.


  • Chambers and Partners (2007–Present, Band 3)
  • Illinois Super Lawyers (2006–Present)
  • Leading Lawyers NetworkReal Estate Construction & Environmental Member (2010-Present)
  • Legal 500 (2010–2011)


  • Northwestern University School of Law, J.D., May 1989
  • University of Illinois (Urbana, Illinois), B.S. in Finance, May 1985 (with Highest Honors)


Leasing Transactions:

  • Represented Salesforce as tenant in its multi-floor anchor tenant lease of the Salesforce Tower in Chicago.
  • Represented Brookfield Properties as tenant for its full-floor office lease in the to be constructed Bank of America building in Chicago.
  • Represented Brookfield Securities as tenant for its multi-floor headquarters lease in Manhattan, NY.
  • Represented Brookfield  Securities as tenant for its regional headquarters lease in Houston, TX.
  • Represented Eon Energy as tenant of its 2-floor lease in Chicago.
  • Represented a private landlord in the leasing of an office building containing 500,000+ sq. ft. in Naperville, IL.
  • Represented GTCR as tenant in its multi-floor office lease in Chicago.
  • Represented landlord in leasing of an office building in Schaumburg, IL.
  • Represented Madison Dearborn Partners as tenant in its multi-floor office lease in Chicago.
  • Represented Fieldglass as tenant for its office lease in the West Loop of Chicago.
  • Represented private equity fund as landlord in leasing of several million sq. ft. of retail properties  across the United States.
  • Represented landlord in the leasing of Prudential Towers I and II in Chicago.
  • Represented various private equity funds as landlord and tenant in leasing and subleasing millions of sq. ft. of industrial, warehouse and office properties across the United States.


  • Represented client in $440 Million sale-leaseback transaction of a portfolio of department stores.
  • Represented client in $600 Million sale-leaseback transaction in connection with the acquisition of a restaurant chain.
  • Represented client in the sale-leaseback of a college campus.
  • Represented client in the acquisition of over 400 bowling centers and its related $250 Million sale-leaseback transaction of over 180 bowling centers.
  • Represented client in $174 Million sale-lease back transaction involving industrial properties.
  • Represented client in a series of acquisition, development, sale/leaseback, and financing transactions for a portfolio of warehouse and distribution centers across the United States.
  • Represented client in $160 Million off balance sheet leveraged lease transaction for the acquisition and development of the largest natural gas storage field in North America.
  • Represented client in $150 Million leverage lease transaction for its corporate campus.
  • Represented client in $70 Million synthetic lease facility for construction of warehouse and distribution centers across the United States.
  • Represented client in a series of black box synthetic lease transactions for the financing and development of senior living centers.

General Real Estate:

  • Represented client in the joint venture formation and acquisition and development of an office building and subsequent conversion for a hotel project.
  • Represented client in connection with acquisition of a downtown office building, its demolition and construction of a new office complex.
  • Represented public company client in the leasing of a Chicago area office building for relocation of its corporate headquarters.
  • Represented public company client in the acquisition of a suburban office building.
  • Represented client in the joint venture formation and acquisition and financing of office/industrial center complex.
  • Represented client in the joint venture formation and acquisition, development, and conversion of industrial buildings to condominiums.
  • Represented client in a $125 Million construction loan for a condominium project in Chicago.
  • Represented international lender in connection with a term loan, permanent loan, and existing loan modification to a manufacturing company for acquisition of an existing business secured by the personal property and real property assets of the acquired company.
  • Represented pension fund in the purchase of a regional shopping center.

Data Centers:

  • Represented an interconnection and data center provider client in financing its data center facilities in Illinois and California, and in its subsequent sale.
  • Represented data center client in negotiation of its senior secured credit facilities.
  • Represented client in its acquisition of a portfolio of fiber optic and transmission lines.
  • Represented an internet company client in connection with its leasing and development of a regional data center facility.
  • Represented an internet client in the lease of a data center facility.


  • Represented purchaser in the acquisition of a pizza restaurant chain out of bankruptcy.
  • Represented newspaper company in real estate matters related to its bankruptcy and restructuring.
  • Represented theme park operator with 20 parks in real estate matters related to its bankruptcy and restructuring.
  • Represented airline in real estate matters related to its bankruptcy and restructuring and $1.7 Billion special facility bond litigation.
  • Represented client in $200 Million DIP Loan to international time share company.
  • Represented private equity fund in the acquisition of secured lien claims of a restaurant chain in bankruptcy which liens were secured by 90 store locations.

Engagement & Publications

  • Moderator, Panel Discussion - Private Equity Leaseback Strategies – Markets Group Private Equity US Spring Forum, May 2021
  • "Court Rules Force Majeure Clause Reduces Tenant’s Rent by 75% Due to COVID-19," ABA Real Property Trust and Estate E-Report co-authored with Bradley V. Ritter, David Stanek, Adam Reich, and Brendan Gage, Summer 2020
  • Speaker, University of Illinois Rho Epsilon, "Real Estate Financial Markets," April 18, 2018
  • Speaker, Insights 2016 Client Conference, "The Impact of New FASB/IASB Accounting Standards," May 10, 2016
  • Speaker, CBRE Client Summit, "International Data Center Deployments-Rules of Engagement," May 5, 2016
  • "FASB Issues New Lease Accounting Standards," Stay Current Client Alert authored with Bradley V. Ritter and Joseph M. Hammon March 22, 2016
  • Speaker, The Fourth Annual Greater Chicago & Midwest Data Center Summit, June 16, 2015
  • Speaker, University of Illinois Rho Epsilon, "Real Estate Restructurings: Legal Aspects," May 5, 2015
  • Speaker, Chicago Mortgage Attorneys Association, Mezzanine Financing Best Practices, April 15, 2015
  • Interviewed and quoted in Law360 "New Accounting Rules to Spur Balance Sheet-Friendly Leases" article, May 28, 2013
  • "Recent Amendment Addresses In re Crane" mortgage case, Stay Current Client Alert authored with Bradley V. Ritter and Aaron M. Tucker March, 7, 2013
  • "The Debt Stack: Lessons Learned from the Great Recession," Paul Hastings September 13, 2012
  • Guest Lecturer, Illinois Institute of Technology, College of Architecture, Entrepreneurship and Innovation in Architecture—A Guide for Architects Working with Attorneys, October 2011
  • "Who has the Keys? Distressed Hospitality Assets: An Overview of Pertinent Legal Issues," PLI March 2011
  • "Who Really is in Charge? Dealing with Distressed Landlords and Lenders-in-Possession," ICSC November 2010
  • "Distressed Real Estate Update: Practical and Legal Issues," Part 2 of 2, Paul Hastings June 2010
  • "Distressed Real Estate Update: Practical and Legal Issues," Part 1 of 2, Paul Hastings May 2010
  • "The Impact of Bankruptcy on Corporate Real Estate," AECRE Fall Forum 2009
  • Panelist, Northwestern Law School, Real Estate Panel, November 5, 2009
  • Panelist, University of Michigan, Current Conditions in Real Estate Seminar, October 2007, 2008, and 2009
  • "Troubled Real Estate in Troubled Times," "Has Real Estate Gone Green and Other Questions of Our Time?" March 2009 Super CLE, University of Minnesota
  • "Assignment of Voting Rights in Intercreditor Agreements," The ACREL Papers, Fall 2007
  • "Opting In to Article 8 and Other Mezzanine Financing Best Practices," The ACREL Papers, Fall 2007
  • "Sale-Leaseback Transactions in Today’s Private Equity Environment," Venture Capital Review, Spring 2007
  • "Pre Bankruptcy Issues: What to Think About Before the Case is Filed," The ACREL Papers, Spring 2006
  • "Title Insurance: an Introduction," "Using the Bankruptcy Code as a Leveraging Device in Acquiring, Selling, or Repositioning Distressed Real Estate," "Pre Petition Issues: A Few Things to Consider Before Filing," March 2006 Super CLE, University of Minnesota
  • "Unlocking the Value of Your Real Estate Assets," May 2003, Franchise Times
  • Sale-Lease Back Offers Compelling Alternative, New York Law Journal, November 25, 2002
  • "The Evolution Continues: The REIT Modernization Act," US Business Review, March/April 2001
  • Electronic Media In Real Estate Transactions—ICSC Conference, October 2000


Law School Teaching:

  • University of Minnesota, 1998–2000, Adjunct Professor of Law—Real Estate Transactions Seminar
  • Northwestern University School of Law, Guest Lecturer
  • Michigan Law School, Guest Lecturer
  • DePaul University Law School, Guest Lecturer, 2001–2002

Professional Organizations / Licenses:

  • Christopher House, Board Member (2007–2021)
  • Chicago Central Area Committee, Board Member (2005–2014)
  • American College of Real Estate Lawyers, Member (2005–Present)
  • John Marshall Law School Center for Real Estate Law, LLM Program, Advisory Board Member
  • Illinois Bar Admission (1989)
  • Certified Public Accountant Exam, Illinois (1985)

Practice Areas

Real Estate Acquisitions and Dispositions

Internet of Things

Real Estate Finance

Real Estate

Direct Lending and Private Credit Lending

Real Estate Equity Investments and Joint Ventures

Data Centers

Real Estate Restructuring and Reorganization




Illinois Bar


Northwestern Pritzker School of Law, J.D. 1989

University of Illinois at Urbana-Champaign, B.S. 1985

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