Phoenix Retail in its Section 363 acquisition of substantially all assets of Express

On June 21, 2024, PHOENIX Retail, LLC, a newly formed joint venture led by WHP Global with affiliates of Simon Property Group, Brookfield Properties and Centennial Real Estate, acquired a majority of retailer Express Inc.’s operations pursuant to Section 363 of the United States Bankruptcy Code.  The acquisition was funded with a combination of debt and equity financing.

Wachtell, Lipton, Rosen & Katz acted as legal counsel to PHOENIX Retail and WHP Global in connection with the transactions.