Joel C. Solomon is of counsel and a real estate business lawyer with Foley & Lardner LLP. He has extensive experience in a wide range of real estate and finance issues, including loan originations, real estate acquisitions and dispositions, project development and management, work outs and restructuring, foreclosure, and litigation and bankruptcy. Joel is a member of the Real Estate and Finance & Financial Institutions Practices.
Since joining Foley in 2013 Joel has represented a well-known private equity portfolio company in the acquisition of dozens of land sites for the purpose of developing a new national hotel brand. In addition, Mr. Solomon represents both lenders and borrowers with respect to commercial real estate loans.
Prior to joining Foley, Joel was general counsel and chief legal officer at ST Residential, LLC where he directed all legal aspects of a $4.5 billion portfolio of commercial real estate owned by a public private partnership between the FDIC and a private equity consortium. Joel was also general counsel at Corus Bank from 1997 until 2009, where he managed the entire legal process associated with $20 billion of loan originations, including construction loans in excess of $100 million dollars for major condominium and mixed-use projects in Miami, New York, Los Angeles, Chicago, Las Vegas, Phoenix, and other metropolitan areas; coordinated and managed the defense of all litigation brought against the bank, including class actions and banking-related matters; and directed and negotiated complex agreements with key third parties, including inter-creditor agreements with mezzanine lenders, co-lending agreements with participating banks, and collateral assignments of supporting agreements.
Joel has been working closely with a private equity company developing a new hotel brand. He focuses primarily on land acquisitions of sites across the United States.
Joel has been instrumental in completing the sale of 13 separate premier multi-family properties on behalf of ST Residential, LLC, the managing member of Corus Construction Venture, LLC.
Joel Solomon and Foley created tremendous value helping ST Residential overcome a wide range of challenges and adversity over a yearlong series of complex multi-family transactions in many markets involving the Homeowners Association, construction and various other issues.
— Jon Pertchik, CEO of ST Residential, LLC
Joel’s work on behalf of ST Residential has been national in scope and has included:
Joel received his law degree from Case Western Reserve University, and his bachelor's degree in comparative literature from The Ohio State University, where he was a Phi Beta Kappa.
Joel is a member of the Illinois and American Bar Associations. He is also a member of the Chicago Bar Association where he served as former chairman of the Real Property Law Finance Subcommittee.