Foley announced today that Joel C. Solomon has joined the firm’s Real Estate Practice as of counsel in the Chicago office. Prior to joining Foley, Solomon was general counsel with ST Residential, LLC.
Solomon has extensive experience in a wide range of real estate matters, including project development and management, work outs and restructuring, foreclosure, litigation and bankruptcy, and loan originations. In his previous position as chief legal officer of ST Residential, Solomon directed all legal issues stemming from the $4.5 billion public-private partnership between the Federal Deposit Insurance Corporation and a consortium of private equity investors, including Starwood Capital, TPG, Richard LeFrak and Richard Perry Capital. He managed more than 40 large commercial foreclosures and deed in lieu transactions, all legal matters for approximately 45 for sale condominium projects and all aspects of portfolio litigation, while also directing the company through multiple complex bankruptcies.
“Joel’s sophisticated knowledge of both the real estate and banking fields, gleaned from his many years serving as general counsel for companies, will provide our clients with unique and valuable perspective into a myriad of complex legal issues,” said Fred Ridley, national chair of the firm’s Real Estate Practice. “The depth and breadth of his experience complements our already talented team and will be instrumental in helping our clients navigate an industry with numerous challenges and opportunities.”
Before joining ST Residential, Solomon spent considerable time at Corus Bank, where he served as general counsel and senior vice president of commercial lending. In this role, he managed loan originations, directed and negotiated complex agreements with third parties and managed the defense for all litigation brought against the bank, including class actions and banking-related matters.
“We are thrilled to add an attorney of Joel’s caliber to our talented team in Chicago as we continue to expand our presence in the market across a number of key practice areas,” said Myles Berman, managing partner of Foley’s Chicago office. “His decades of work in complex real estate and banking matters will be an immediate asset to our clients and help to further position the firm as a source for skilled legal counsel in this area, both in the Midwest and nationally.”
With approximately 900 attorneys in 21 offices, Foley & Lardner LLP provides award-winning business and legal insight to clients across the country and around the world. Our team-based approach, innovative technology, and focus on value and client service are continually recognized by our clients and the legal industry. Foley has been named one of the elite BTI Client Service 30 for nine of the past 10 years in a survey* of Fortune 1000 corporate counsel. In addition, Foley received 20 national first-tier rankings on the 2013 U.S. News – Best Lawyers® “Best Law Firms” list and was named to the 2012 InformationWeek 500 list for technological innovation that enhances business value.
*The BTI Consulting Group (Wellesley, MA)