Fulbright represented Skokie, Ill.-based EPN Group, in connection with a $1.4 billion deal to sell 47 shopping centers it owns across the US to a joint venture between New York-based Blackstone Real Estate Partners and Ohio-based DDR Corp.

The transaction is expected to close in June 2012, and is subject to conditions.

EPN Group was jointly formed by Tel Aviv, Israel- based Elbit Imaging Ltd. (NASDAQ:ESLT) and its subsidiary Plaza Centers N.V., with Eastgate Property LLC in order to pursue real estate investments in the US.

Fulbright’s team—led by Austin real estate partner Jane Snoddy Smith and Washington D.C. project finance partner Andrea Lachenmayr—included senior associate Travis Siebeneicher and associate Elizabeth Yeager in Austin; and tax partner Michael Flamenbaum, senior associate Sheldon Elefant and associate Donald Ainscow in New York.