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News Feb 13, 2015

Shearman & Sterling Advises on Revolving Credit Facility for Easterly Government Properties, Inc.

Shearman & Sterling represented Citigroup Global Markets, Inc., as joint lead arranger and administrative agent, in connection with the $400 million syndicated senior unsecured revolving credit facility for Easterly Government Properties, Inc. (NYSE: DEA) with respect to the company’s $207 million initial public offering.

Based in Washington, DC, Easterly Government Properties, Inc. operates as a real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties that are leased to US Government agencies that serve essential functions. Upon completion of its IPO and related formation transactions, Easterly owned 29 properties in the United States, including 26 properties leased primarily to US Government tenant agencies, encompassing approximately 2.1 million square feet in the aggregate.

The Shearman & Sterling team included partner Malcolm Montgomery (New York-Real Estate) and associates Jocelyn Bush (New York-Real Estate) and Ted Lamm (New York-Corporate).

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