Much Advises Cinespace Chicago in Sale to TPG Real Estate
Steve DeGraff, Courtney Mayster, and Steve Schwartz Lead Landmark Transaction for Longtime Client
Much represented its longtime client Alex Pissios, President and CEO of Cinespace Chicago, in the company's sale to TPG Real Estate Partners, the dedicated real estate equity investment platform of alternative asset firm TPG.
Steve DeGraff and Courtney Mayster, principals in Much's Real Estate group, and Steve Schwartz, principal in Much's Business & Finance group, served as legal advisors. The transaction closed on November 12, 2021.
"Our partnership with Cinespace and Alex began years ago. When Alex decided it was time to sell to a great partner, Much had the knowledge and experience to serve as both legal counsel and investment advisor," said DeGraff. "We are so grateful Alex trusted our team during this transformative time for the company."
Cinespace has relied on the Much team for business advice for years, calling on DeGraff and Mayster for insight on everything from day-to-day operations to major expansion projects. In this sale, Pissios insisted DeGraff serve as both legal counsel and investment advisor, a unique situation that highlights Cinespace's confidence in Much and its attorneys.
"My family and I are so grateful to Steve, Courtney, and the team at Much – along with community partners and the City of Chicago – for their continued support throughout our extraordinary journey," said Pissios. "With Much’s strategic counsel and guidance, we’ve found a great partner whose experience in and commitment to the entertainment industry will champion Cinespace’s continued growth and its positive impact in the community."
"Because we've advised Alex and his team from the beginning, we've established a deep understanding of his long-term business goals, and we’ve also been able to identify strategic growth opportunities," said Mayster, chair of Much's Real Estate group and a member of the firm's Management Committee. “At Much, we represent clients at every phase of the business lifecycle. It’s always a challenging and rewarding experience to counsel business owners – whether they're going through their first sale or embarking on the largest deal of their lives."
Read more about the transaction here.