Joshua P. Roling

Senior Counsel


Josh Roling is a senior counsel and real estate lawyer with Foley & Lardner LLP. Josh represents real estate developers, investors, owners and tenants in all aspects of commercial real estate transactions, including acquisitions and sales, leasing, construction and permanent financing, New Market Tax Credits, private placements and zoning. He also counsels clients in connection with the real estate aspects of corporate mergers and acquisitions and has significant experience in multistate real estate portfolio transactions.

In addition to his traditional real estate practice, Josh has experience working on the acquisition, development, construction and financing of wind, solar, hydro, biomass, and district energy projects, including negotiating site control documents; addressing title, survey and other development matters; and performing real estate due diligence for tax equity investments.

Josh is a member of the firm’s Real Estate Practice as well as the firm’s Energy Industry Team and Sports Industry Team.


Representative Real Estate Experience


  • Represented BM Eagle Holdings, LLC, on real estate matters in connection with a $700 million acquisition of a skilled nursing facility portfolio consisting of more than 90 facilities in 18 states.
  • Represented Mandel Group, Inc., on a $7,700,000 New Market Tax Credit (NMTC) financing for the development of a medical office building in southeastern Wisconsin.
  • Represented real estate joint-venture on site development of 123-acre mixed-use development near King of Prussia, Pennsylvania, including work on a Declaration of Restrictions and various utility easements and agreements. Represented the joint venture in negotiation of purchase agreements and closings of sales to third-party developers for more than $42 million.
  • Represented developer on a $8,075,000 construction loan for a medical office building in Milwaukee, Wisconsin.
  • Represented regional multifamily developer on acquisition, development and re-financing of a 188-unit apartment development in Wauwatosa, Wisconsin.
  • Represented the real estate affiliate of an NBA franchise on a 16-year lease of a 37,500 sq.ft. medical office building to a major regional medical system.
  • Represented international agribusiness client on real estate matters related to an $11,000,000 acquisition of an Hawaiian seed development company.
  • Represented manufacturing client on sale leaseback of 145,000 sq.ft. manufacturing facility in Illinois for a purchase price of $6,000,000.
  • Represented Danish-based manufacturing client on purchase of 45,000 sq.ft. manufacturing and warehouse facility in Illinois for approximately $2,000,000.
  • Represented landlord in negotiation of lease for a 167,200 sq.ft. office and warehouse facility in Racine, Wisconsin, to a national food service and janitorial supplies distributor.
  • Represented national dialysis clinic in renewal of special use zoning permit for 9,000 sq.ft facility in Milwaukee, Wisconsin.

Representative Energy Experience

  • Represented investor-owned utility holding company on real estate aspects of a sale of a 49% interest in a portfolio of operating wind and solar energy projects for $400 million dollars. The portfolio consisted of approximately 1,300 MW across 30 projects in 13 states.
  • Represented a major U.S. renewable energy company in the purchase and development of two wind energy projects in Maryland totaling 70 MW.
  • Represented European energy company on real estate aspects in connection with a $600 million acquisition of a tri-generation power plant and district energy system.
  • Represented the seller of a hydroelectric facility associated with a paper mill in Wisconsin, including legal separation of hydroelectric assets from paper mill assets.
  • Represented a major U.S. financial institution on real estate diligence and related work in connection with its tax equity investments in over 150 MW of ground-mounted solar energy projects in California, North Carolina, Massachusetts and Idaho.
  • Represented real estate developer in negotiation of two 20-year rooftop solar leases with a regional electric utility.


Josh received his law degree from Duke University School of Law (J.D., magna cum laude, 2012), where he ranked in the top 5% of his class and was elected to the Order of the Coif. He was also an executive editor of Duke Law Journal.

A native of Clinton, IA, Mr. Roling received his bachelor’s degree from Marquette University (B.A., summa cum laude, 2009), where he was the president of Triangle Fraternity. 


Josh is admitted to practice law in Wisconsin.

Representative Matters

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Foley is representing Deer District LLC, an affiliate of the Milwaukee Bucks, in their purchase of properties for the development of a new NBA arena in Milwaukee, Wisconsin.
Johnson Controls Inc. (JCI), an advanced manufacturing and Fortune 100 company, was interested in stimulating its energy efficiency retrofit business in Wisconsin. JCI first approached Foley to assist in obtaining a Wisconsin statutory change allowing for Property Assessed Clean Energy (PACE) financing. This statute permits local governments to facilitate loans, secured by a special charge on the property tax rolls, to help commercial property owners implement energy efficiency improvements. Once the state approved the statute to enable building owners to pay over time rather than up front for projects that cut energy use and utility bills, JCI then retained Foley attorneys and public affairs professionals to help implement a PACE program in the City of Milwaukee. The Foley team led the lobbying effort and handled negotiations with city attorneys to address the complexities of this program for attracting private capital for funding city projects. As part of the effort, we built support within City Hall, overcame objections by various department heads, and secured backing from the mayor and key members of the Milwaukee City Council. After conducting an in-depth analysis of current statutes and ordinances to identify necessary changes, Foley contacted city officials to determine other structural barriers and to begin breaking down any bureaucratic opposition. By leveraging relationships of Foley partners with key committee members, we were able to introduce the idea to the city. Understanding the chiller and control technology that JCI and its partners manufacture was important and the Foley team was well versed in explaining to City Council members how the technology would provide long-term payback upgrades. After months of working with city attorneys and our client to hammer out the details of multiple drafts of the ordinance, it was ultimately passed. JCI secured the opportunity to offer expanded services for reducing energy waste to its Milwaukee customers, and a new market was opened up for the company’s products. The city also enjoys the chance to attract real-world capital and create jobs by becoming a hub for clean technology and economic growth. JCI has handled eight projects already in Milwaukee through the program, and has at least 10 projects in the pipeline that could turn into orders thanks to the PACE financing. One of the more noticeable upgrades involves converting LED, or light-emitting diode, technology that saves 40 percent on energy used by the lights that adorn Wisconsin's tallest building. Another project at one building will save 17 million gallons of water per year. In the first few months of the program, JCI has executed contracts worth about $6 million, providing more than 60 jobs in the community. At a Glance: Next-Generation Manufacturing Business Issues: • Sustainability• Facilities Siting, Reconfiguration, and Management• Government and Public Affairs
Represented a national energy service company in proposing new PACE Program legislation for the City of Milwaukee. Negotiated with national PACE Investors and national and local banks regarding the details of the plan and lobbied the City Council, Mayor, Treasurer and other officials regarding the mechanics of the proposed program. Negotiated with the Milwaukee Economic Development Corporation regarding finance terms of the program. Drafted the PACE Financing Loan Agreement for the Program.