professionals
Practice Areas
Education
  • Loyola University Chicago School of Law, J.D., cum laude, 1996
  • University of Illinois at Urbana-Champaign, B.S., with honors, 1993

Michael J. Towne

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Partner
T. 312.629.7309
F. 312.984.3150

Michael concentrates his practice in the Firm’s Tax & Business Planning Group, focusing on a broad array of federal tax issues. He has extensive experience in advising publicly traded and private real estate investment trusts (“REITs”) on business formations, initial public offerings, mergers and acquisitions, public and private debt/equity offerings, joint ventures and various UPREIT partnership transactions. He has also represented underwriters in numerous initial and secondary public offerings of REIT securities. In addition to his tax transactional practice, Michael also has advised publicly traded corporations (including REITs), large and small private companies, and high net worth individuals on a wide variety of complex tax issues at the examination, appeals and litigation stages.

Representative Matters

  • First Industrial Realty Trust Stock Offerings

    Served as primary counsel to NYSE-listed industrial REIT with respect to several public offerings utilizing diverse structures, including a 12.5 million share of common stock ($65.6 million) firm commitment underwriting, various "bought deal" underwritten offerings of an aggregate of over 35.1 million shares of common stock for gross proceeds of over $450 million, continuous “at-the-market” programs offering up to 10 million shares, 12.5 million shares and 13.3 million shares of common stock, respectively, and direct stock sales of up to 5 million shares pursuant to a dividend reinvestment and direct stock purchase plan. The offerings utilized takedowns from a universal shelf registration statement on which we previously represented the company.

Professional Activities and Honors

  • Loyola University of Chicago Law Journal
  • Certified Public Accountant, Illinois, 1993
  • National Association of Real Estate Investments Trust ("NAREIT")

Publications

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