Exhibit 5.2
|
|
|
|
|
|
|
505 Montgomery Street, Suite 2000 |
|
|
San Francisco, California 94111-6538 |
|
|
Tel: +1.415.391.0600 Fax: +1.415.395.8095 |
|
|
www.lw.com |
|
|
|
|
|
|
|
FIRM / AFFILIATE OFFICES |
|
Abu Dhabi
|
|
Munich |
|
Barcelona
|
|
New Jersey |
|
Brussels
|
|
New York |
|
|
Chicago
|
|
Orange County |
|
|
Doha
|
|
Paris |
|
|
Dubai
|
|
Rome |
|
|
Frankfurt
|
|
San Diego |
|
|
Hamburg
|
|
San Francisco |
|
|
Hong Kong
|
|
Shanghai |
|
|
London
|
|
Silicon Valley |
|
|
Los Angeles
|
|
Singapore |
|
|
Madrid
|
|
Tokyo |
|
|
Milan
|
|
Washington, D.C. |
|
|
Moscow |
|
|
August 14, 2009
AMB Property, L.P.
AMB Property Corporation
Pier 1, Bay 1
San Francisco, CA 94111
|
Re: |
|
AMB Property, L.P.
Registration Statement on Form S-3 |
Ladies and Gentlemen:
We have acted as special counsel to AMB Property, L.P., a Delaware limited partnership (the
Company), and AMB Property Corporation, a Maryland corporation (the Guarantor), in connection
with the issuance of one or more series of debt securities (the Debt Securities) and the
guarantees of the Debt Securities (the Guarantees) by the Guarantor, under an Indenture dated as
of June 30, 1998, as such indenture may be supplemented from time to time (the Indenture), among
the Company, the Guarantor, and U.S. Bank National Association, as trustee (the Trustee), and
pursuant to a registration statement on Form S-3 under the Securities Act of 1933, as amended (the
Act), filed with the Securities and
Exchange Commission (the Commission) on
August 14, 2009
(the Registration Statement), which includes the form of prospectus (the Prospectus). This
opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K
under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of
the Registration Statement or related
prospectus, other than as expressly stated herein with respect to the issue of the Debt
Securities and the Guarantees.
As such counsel, we have examined such matters of fact and questions of law as we have
considered appropriate for purposes of this letter. With your consent, we have relied upon
certificates and other assurances of officers of the Company, the Guarantor, and others as to
factual matters without having independently verified such factual matters. We are opining herein
as to the internal laws of the State of New York and the general corporation law of the state of
Delaware, and we express no opinion with respect to the applicability thereto, or the effect
thereon, of the laws of any other jurisdiction or, in the case of Delaware, any other laws, or
August 14, 2009
Page 2
as to any matters of municipal law or the laws of any local agencies within any state.
Various matters concerning the laws of the State of Maryland are addressed in the opinion of
Ballard Spahr Andrews & Ingersoll, LLP, separately provided to you, and we express no opinion with
respect to those matters.
Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of
the date hereof, when the specific terms of a particular Debt Security have been duly established
in accordance with the terms of the Indenture and authorized by all necessary corporation action of
the Company, and such Debt Security has been duly executed, authenticated, issued and delivered
against payment therefor in accordance with such Indenture and in the manner contemplated by the
Registration Statement and/or the applicable Prospectus and by such corporate action, such Debt
Security and Guarantees will be legally valid and binding obligations of the Company and the
Guarantor, respectively, enforceable against the Company and the Guarantor in accordance with their
respective terms.
Our opinions are subject to: (i) the effect of bankruptcy, insolvency, reorganization,
preference, fraudulent transfer, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors; (ii) the effect of general principles of equity, whether
considered in a proceeding in equity or at law (including the possible unavailability of specific
performance or injunctive relief), concepts of materiality, reasonableness, good faith and fair
dealing, and the discretion of the court before which a proceeding is brought; (iii) the invalidity
under certain circumstances under law or court decisions of provisions providing for the
indemnification of or contribution to a party with respect to a liability where such
indemnification or contribution is contrary to public policy; and (iv) we express no opinion as to
(a) any provision for liquidated damages, default interest, late charges, monetary penalties,
make-whole premiums or other economic remedies to the extent such provisions are deemed to
constitute a penalty, (b) consents to, or restrictions upon, governing law, jurisdiction, venue,
arbitration, remedies or judicial relief, (c) the waiver of rights or defenses contained in Section
514 of the Indenture, (d) any provision requiring the payment of attorneys fees, where such
payment is contrary to law or public policy, (e) any provision permitting, upon acceleration of any
Debt Security, collection of that portion of the stated principal amount thereof which might
be determined to constitute unearned interest thereon, (f) the creation, validity, attachment,
perfection, or priority of any lien or security interest, (g) advance waivers of claims, defenses,
rights granted by law, or notice, opportunity for hearing, evidentiary requirements, statutes of
limitation, trial by jury or at law, or other procedural rights, (h) waivers of broadly or vaguely
stated rights, (i) provisions for exclusivity, election or cumulation of rights or remedies, (j)
provisions authorizing or validating conclusive or discretionary determinations, (k) grants of
setoff rights, (l) proxies, powers and trusts, (m) provisions prohibiting, restricting, or
requiring consent to assignment or transfer of any right or property, (n) provisions purporting to
make a guarantor primarily liable rather than as a surety, (o) provisions purporting to waive
modifications of any guaranteed obligation to the extent such modification constitutes a novation,
(p) any provision to the extent it requires that a claim with respect to a security denominated in
other than U.S. dollars (or a judgment in respect of such a claim) be converted into U.S. dollars
at a rate of exchange at a particular date, to the extent applicable law otherwise provides, and
(q) the severability, if invalid, of provisions to the foregoing effect.
August
14, 2009
Page 3
With your consent, we have assumed (a) that the Indenture, the Guarantees, and the Debt
Securities (collectively, the Documents) have been duly authorized, executed and delivered by the
parties thereto other than the Company, (b) that the Documents constitute legally
valid and binding obligations of the parties thereto other than the Company and the Guarantor,
enforceable against each of them in accordance with their respective terms, and (c) that the status
of the Documents as legally valid and binding obligations of the parties is not affected by any (i)
breaches of, or defaults under, agreements or instruments, (ii) violations of statutes, rules,
regulations or court or governmental orders, or (iii) failures to obtain required consents,
approvals or authorizations from, or make required registrations, declarations or filings with,
governmental authorities.
This opinion is for your benefit in connection with the Registration Statement and may be
relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of
the Act. We consent to your filing this opinion as an exhibit to the Registration Statement and to
the reference to our firm contained in the Prospectus under the heading Legal Matters. In giving
such consent, we do not thereby admit that we are in the category of persons whose consent is
required under Section 7 of the Act or the rules and regulations of the Commission thereunder.
|
|
|
|
|
|
Very truly yours,
|
|
|
/s/ Latham & Watkins LLP
|
|
|
|
|
|
|
|
|