Rental Property Investor · York, PA · Member since 2017 · 58 posts · 41 votes
To all,
I am looking to meet up with an attorney in PA that is experienced in doing syndications. My current attorney can handle the smaller deals and setting up LLC's but has no experience in sydications. Any help would be greatly appreciated. If you have personally used the lawyer for your syndications, even better.
For securities lawyers, you don't really need the lawyer to be in Pennsylvania. The main job of a syndication attorney is to help you comply with SEC issues. Of course, you need to comply with Blue Sky Laws of the specific state as well. But compliance with SEC laws is your primary concern. That stays the same regardless of what state you are in.
For our projects, we worked with @Jillian Sidoti. She's at the same firm with Gene Trowbridge, Esq. that @Mario J Perez mentioned. I know all the GPs have been very happy with her work and her team. I would reach out to her.
If you must work with a Pennsylvania attorney, I can give refer you to some SEC lawyers that I've worked with. But my dealings with them had to do with non-real-estate matters (e.g. IPO clients, mid-stage VC startups, etc.). They also work for mega firms (500+ lawyers). So I don't know if they would be a good fit.
Assuming you are looking at a project in Pennsylvania, you will probably still want to work with a lawyer or law firm that can handle the underlying transactions. Depending on what you are doing, you'll need someone to help with the real estate issues and also lending issues. It's very common for syndicators to work with multiple lawyers on these projects.
Now you could try to get all the issues done through one law firm. But you are then typically working with mega firms. While it's arguably nice, you tend to pay a lot for that convenience. You are looking at anywhere from $300 to $600 an hour for junior associates.
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.
@Chris K. is in PA and I understand he in involved with (some syndications). Great guy with lots of experience, and lawyer (maybe not practicing full-time currently.)
For securities lawyers, you don't really need the lawyer to be in Pennsylvania. The main job of a syndication attorney is to help you comply with SEC issues. Of course, you need to comply with Blue Sky Laws of the specific state as well. But compliance with SEC laws is your primary concern. That stays the same regardless of what state you are in.
For our projects, we worked with @Jillian Sidoti. She's at the same firm with Gene Trowbridge, Esq. that @Mario J Perez mentioned. I know all the GPs have been very happy with her work and her team. I would reach out to her.
If you must work with a Pennsylvania attorney, I can give refer you to some SEC lawyers that I've worked with. But my dealings with them had to do with non-real-estate matters (e.g. IPO clients, mid-stage VC startups, etc.). They also work for mega firms (500+ lawyers). So I don't know if they would be a good fit.
Assuming you are looking at a project in Pennsylvania, you will probably still want to work with a lawyer or law firm that can handle the underlying transactions. Depending on what you are doing, you'll need someone to help with the real estate issues and also lending issues. It's very common for syndicators to work with multiple lawyers on these projects.
Now you could try to get all the issues done through one law firm. But you are then typically working with mega firms. While it's arguably nice, you tend to pay a lot for that convenience. You are looking at anywhere from $300 to $600 an hour for junior associates.
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.
Rental Property Investor · mid atlantic · Member since 2017 · 197 posts · 106 votes
7y
We did a syndication in South Central PA. We used Barley Snyder. Let me know if you want the exact lawyer we used. He was fantastic. We ended up raising $2M, and he did a great job explaining all of the rules and policies we had to adhere to. Quick turn-around as well.
Rental Property Investor · York, PA · Member since 2017 · 58 posts · 41 votes
7y
@Mario J Perez@Chris K. thank you for your recommendations. I will definitely reach out to Jillian and Kim. Also, thank you for taking the time to respond. I appreciate all the help!
@Chad Gallagher If you don't mind providing their name I would love to reach out to them personally. Congrats on the successful raise and thank you for reaching out!