Recent News:
Elizabeth Kearney, vice chair of Cozen O’Connor’s Real Estate practice, has been named a 2025 GlobeSt. Woman of Influence.
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Cozen O’Connor operates a comprehensive Real Estate Development Practice that represents developers, owners, and investors in their most critical projects in communities across the country. The team is adept at leading development of all types, whether new construction, major renovations, or adaptive reuse. Firm attorneys have the technical skills to manage each discrete aspect of a development project and the perspective to ensure the project as a whole is structured to maximize synergy, efficiency, and value.
Experience
There is no substitute for experience — and attorneys at Cozen O’Connor have decades of experience leading development at every scale, from the relatively straightforward development of raw land for a single purpose to the hugely complex multi-use redevelopment of an assemblage of built properties. Examples of major recent engagements include:
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Represented a joint venture between Gattuso Development Partners and an international investor in the development, with Drexel University, of a $450 million, 11-story, 500,000 sq. ft. life sciences/lab building on Drexel’s campus in Philadelphia, named the 2022 Real Estate Deal of the Year by the Philadelphia Business Journal.
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Represented a regional rail transportation authority in a JV and ground lease agreement with an affiliate of a national development company for a multi-phase, mixed-use development on 15 acres of publicly owned land in Hollywood.
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Represented HSBC Bank USA, National Association in connection with a 5.4-million sq. ft. mixed-use development, known as Manhattan West, being built as part of the Hudson Yards Redevelopment in New York City. The project consists of two large office towers and two smaller residential towers, as well as a 1.5-acre public park.
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Represented the equity partner in a joint venture to redevelop an industrial building in Los Angeles as 376 low-income housing units and retail space. Subject to City of Los Angeles housing vouchers, land use restrictive covenants, real estate tax exemption criteria, and public sector welfare subsidy investment, the project required rezoning, environmental remediation, and construction finance.
Services
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Site Acquisition and Property Assemblage. Conduct site analysis and negotiate acquisition agreements with private, institutional, and governmental property owners.
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Ownership Structures. Create condominium, record lot, assessment and taxation lot, master lease, and other structures to facilitate separate ownership and financing of portions of a development. Draft necessary sitewide declarations and easement agreements to ensure harmonious construction, ownership, operation, and use of the various portions of the project.
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Land Use & Zoning and Entitlements. Counsel clients on land use, zoning, easements, and rights of way; obtain necessary entitlements, permitting, and approvals; conduct due diligence of title, surveys, and environmental site issues; and oversee lot subdivision.
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Joint Ventures. Form joint ventures on behalf of both sponsors and equity investors and negotiate mutually advantageous JV agreements. Advise on core issues of contribution requirements, distribution waterfall, internal governance, and remedial rights and remedies.
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Real Estate Finance and Tax. Advise on capital structure, including permanent and bridge financing, construction loans, mezzanine loans, preferred equity investments, and syndicated and CMBS loans. Evaluate tax implications of financing structures, including use of Opportunity Zone incentives.
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Construction. Negotiate design, engineering, and construction contracts; monitor development and address site issues, change orders, and delays; and resolve disputes and handle construction litigation.
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Leasing and Management. Advance the business plan, whether the goal is to execute an immediate disposition or to own, lease, and manage in the long term. Negotiate lease agreements with sophisticated tenants, review management and compliance procedures, and identify profitable exits.
Distinction
Cozen O’Connor continues to invest heavily in maintaining full-service real estate development capabilities. Unlike many of our Big Law peers who have stepped back from so-called “dirt law” to focus narrowly on high-margin finance work, we have opted to maintain a broad reach for the simple reason that we believe it is best for our clients. The last thing commercial real estate developers and investors need is more siloed advice divorced from reality on the ground. They need advice from experienced attorneys who see both the forest and the trees and are fully prepared to provide coordinated and multidisciplinary guidance throughout the entire course of a development project.