Herman C. Fala, chairman of Cozen O’Connor’s real estate
practice, will be leaving the firm to join longtime client Liberty Property
Trust as its general counsel, effective January 1.
Fala succeeds James J. Bowes, who died last month at the age
of 60 after a year-long battle with advanced-stage lung cancer. Bowes had
served as Liberty Property’s general counsel since 1996.
“This is bittersweet because the position only became
available because of the illness and death of my dear friend and longtime
client Jim Bowes,” Fala said during a Friday morning interview. “This wasn’t
the easiest decision. I wasn’t sure I wanted to make a change at this stage of
my career. And everything about Cozen has been great. Management has been
great. They supported the real estate group through the recession and now it’s
growing like gangbusters. I’m also leaving some longtime friends. But now I’ll
be a client and still part of the extended family. It’s a new challenge with
people I know and trust at Liberty Property Trust.”
After graduating from University of Notre Dame in 1971
Harvard Law School in 1974, Fala joined Wolf Block as an associate and was
mentored by real estate lawyers such as Mike Dean, who was Williard Rouse’s
first outside counsel at Rouse & Associates, the predecessor company to Liberty
Property Trust. Fala has worked on the company’s business since the late 1970s,
including the Comcast Center, its projects at the Philadelphia Navy Yard such
as GlaxoSmithKline’s facility there and the 2006 acquisition of
Washington-based Republic Property Trust.
Fala, a fellow of the American College of Real Estate
Lawyers, spent the bulk of his career at Wolf Block and served as chairman of
what was one of the top real estate department’s in the country before the firm
dissolved under financial pressure in March 2009. Fala then took his team of 15
real estate lawyers to Cozen and soon became that firm’s practice head. They
were part of more than 60 lawyers that joined Cozen.
“Herman has represented Liberty on countless transactions
over many years,” Liberty Property CEO Bill Hankowsky said in a statement. “We
are very pleased to welcome Herman to Liberty and we are fortunate to have his
expertise and insight.”
Cozen O’Connor said two of Fala’s former Wolf Block
colleagues will become co-chairs of the real estate practice—
Philadelphia-based Bernard Lee and New York office managing partner Abby
Wenzel.
Fala said Cozen’s real estate practice had been dominated by
its Philadelphia and New York offices but has expanded into West Palm Beach,
Fla., Minneapolis and Wilmington, Del.
Source: Philadelphia
Business Journal
Philadelphia Housing Authority wants to develop Chestnut
Street properties
The Philadelphia Housing Authority is seeking ideas for the
potential redevelopment of three prime properties along Chestnut Street in
Center City.
PHA issued a request for proposals for 2012, 2014 and 2016
Chestnut St. One property, 2012 Chestnut St., had once served as the agency’s
executive offices and housed some of its other departments. PHA moved in the
late 2000s and the building has been vacant ever since. The other two
properties, 2014 and 2016 Chestnut, had been used for parking. They are also
vacant.
While PHA didn’t say what uses it envisions for the properties,
it believes a redevelopment may involve mixed-use, office, commercial or
residential.
Under the proposal, PHA would continue to own the properties
and arrange a ground lease with the selected developer. The deadline for
submitting proposals is Feb. 7, 2014. A developer will be picked in May.
Source: Philadelphia
Business Journal
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