Eric L. Stern

Eric handles deals through the United States, with a particular presence in the Northeast and Mid-Atlantic states.

A frequent speaker and writer, Eric lectures on real estate issues to regional and national organizations, including the American Bar Association (ABA), the International Council of Shopping Centers, CLE International, Law Seminars International, the Philadelphia Bar Association, and the Pennsylvania Bar Institute. Eric has also been a frequent lecturer at The University of Pennsylvania Law School. He writes on commercial leasing and subleasing topics, including exclusivity of use, operating covenants, structuring sublease relationships, and obtaining landlord consents.

Eric is a member of the American College of Real Estate Lawyers (ACREL) and has held regional and national positions with real estate organizations. Eric was recently named “Lawyer of the Year” for Philadelphia Real Estate Law by The Best Lawyers in America (2016) and has been recognized by Chambers USA: America’s Leading Lawyers for Business and Best Lawyers since 2003. In 2014, The Philadelphia Business Journal honored Eric as one Philadelphia’s most influential real estate lawyers.

• Representing American Campus Communities (NYSE:ACC) in long-term ground lease transactions on college and university campuses in multiple states for the development of student residence and mixed use projects.
• Represented Incyte Corporation (NSQ: INCY) in the negotiation of its new 190,000 square foot headquarters lease in New Castle County, Delaware involving the repurposing of an architecturally significant structure that now houses research and development, laboratory, offices, and 500+ employees.
• Represented a pension plan in the sale of land and negotiation of a 99-year ground lease of the Hall of States building in Washington, D.C., which generated cash proceeds of approximately $160 million for our client.
• Represented Drexel University in completing a long-term ground lease development deal with a publicly-traded student housing REIT for the development of a new 1,300 bed, 580,000 square foot student housing facility with a new dining hall and retail components on the university's urban campus. Mr. Stern simultaneously represented the university in its acquisition of long-term control of a second 452,000 square-foot student housing facility located nearby.
• Represented a publicly-traded provider of real estate and relocation services in its lease of a new, 270,000 square-foot, LEED Silver Certified corporate headquarters facility in New Jersey.
• Represented a global private equity fund in a series of transactions relating to a 53-story, 1 million square foot marquee office building in Philadelphia, PA.
• Represented a publicly-traded REIT in sale-leaseback and financing of 388 properties in 19 states aggregating approximately 14.9 million square feet in two portfolio transactions for an aggregate purchase price of $1.05 billion.
• Represented a publicly-traded REIT in acquisition of Boston, MA 1,050,000 square-foot office tower and parking garage for $705 million.