Lowenstein represented New Tradition Holdings LLC, a leading out-of-home media operator with assets across the nation’s largest markets, in its sale of a majority stake to funds managed by Blackstone Tactical Opportunities.
Founded in 2010, New Tradition develops, owns, and operates premium digital and static signage for leading national brands and advertising agencies in major cities across the United States, including New York, Los Angeles, Chicago, Atlanta, Washington DC, Boston, San Francisco, Seattle, Orlando, Miami, Portland, Nashville, San Antonio, and Las Vegas. It manages some of the most iconic, large-format, spectacular out-of-home advertising assets nationwide, including One Times Square in New York City and The Reef in Los Angeles.
This partnership with Blackstone, the largest owner of commercial real estate globally, will help fuel New Tradition’s continued growth and meaningfully enhance its network of real estate and advertising relationships.
Terms of the transaction were not disclosed.
The Lowenstein deal team included Steven E. Siesser, Brooke A. Gillar, Kaitlyn M. Baietto, Donna Calia, Lesley P. Adamo, Melissa D. Libutti, Darren Goodman, Jessica I. Kriegsfeld, Daniel A. Suckerman, Angela Raleigh, Zarema A. Jaramillo, Sydney J. Kaplan, Matthew F. Cammarata, Lowell A. Citron, Andrew P. Erdmann, and Eric Jesse.
About Lowenstein Sandler LLP
Lowenstein Sandler LLP is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.