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Karl P. Frederic

Member

Karl P. Frederic conducts a multidisciplinary practice focused on real estate transactions. He structures, negotiates, and closes deals in all asset classes ranging from the development of an NFL stadium to the sale of a pharmaceutical manufacturing plants to the acquisition of small parcels to consolidate into larger development parcels.

Karl has represented clients in ground-up real estate projects for more than 30 years. Such matters require broad knowledge and experience to address issues that arise in the various phases of a new development, including design, traffic and parking management, utility infrastructure, land use, construction, environmental risk assessment and management, insurance, and finance. Typically, Karl is involved from the inception of a transaction and is positioned to advise clients on optimal transaction structures to facilitate investment and the prompt delivery of the completed project.

Much of Karl’s practice has been focused on the healthcare, pharmaceutical, and biotech industries. He has represented owners, developers, and end-users in the repositioning and revitalization of single-user research and development campuses. He has also had pivotal roles in urban redevelopment projects throughout the metropolitan region, with a particular emphasis on the negotiation of long-term ground leases.

With the advent of legalized cannabis, Karl has applied his experience in the retail, pharmaceutical, and consumer packaged goods sectors to transactions in this emerging industry. Karl follows the cannabis industry, closely tracking both business and legal developments and attending and speaking at various industry events.

Karl joined Clark Hill from a major New York City-based regional law firm after previously practicing at two AmLaw 200 law firms.

Education

J.D., cum laude, University of Miami School of Law, Coral Gables, Florida, 1990
B.A., Columbia University, New York, New York, 1984

Recognitions

  • The Best Lawyers in America – Real Estate Law (2023-2025)

Memberships

  • New Jersey State Bar Association –
    • Former Member of the Real Property Trust and Estate Law Section Board of Consultors and the Special Committee on Renewable Energy, Cleantech and Climate Change
  • New York State Bar Association
  • Industrial Asset Management Council
  • New Jersey Cannabusiness Association

State Bar Licenses

New Jersey, New York, Pennsylvania, Connecticut

Organizations

Immediate Past Chairman, Board of Trustees, Newark Public Radio, Inc., the operator of Newark, New Jersey-based public radio station 88.3 WBGO The Jazz Source (www.wbgo.org)

Speaking Engagements

  • Funding & Investing in Cannabis’ Growth – Access to Capital and Assessing Compliance at the Tri-State Cannabis & Real Estate Conference, hosted by Bisnow (December 14, 2023).
  • The Highs and Lows of Psychedelic-Assisted Therapy: Navigating Legal Complexities, The Knowledge Group (March 2, 2023).
  • The Dotted Line: When Contractors Can Walk Off The Job, Construction Dive (August 27, 2019).
  • Cannabis Legalization and Regulation in the U.S. and Canada: What the Future Holds, The Knowledge Group (June 19, 2019).
  • Panelist, “Solar Energy in New Jersey: How Does It Affect Your Practice”, New Jersey State Bar Association Annual Meeting, May 19, 2011.
  • Contributor, Ladner on Conveyancing in Pennsylvania, (1998 Supp., 1999 Supp. and 2000 Supp.).
  • Co-Author and Lecturer, Mastering Real Estate Titles and Title Insurance in Pennsylvania, National Business Institute Seminar (April 1995).

Publications

  • Reefer Madness, Guest Column, NJ Cannabis Insider (August 2019).
  • Author, “Industry Perspectives 2017: Reimagining Real Estate”, NJBiz, January 23, 2017
  • Author, “Global to Local: Sustainable Development and Emerging Issues in Real Estate Practice”, New Jersey Lawyer, June 2011.
  • Co-Author and Lecturer, Residential and Commercial Evictions in Pennsylvania, National Business Institute Seminar (January 1998).
  • Co-Author, “Commercial Real Estate Loan Documentation”, Handbook of Commercial Real Estate Finance, Mortgage Bankers Association of America (1995).

Experience

  • Long-time outside counsel to Switzerland-based global pharmaceutical conglomerate in United States domestic real estate transactions, including multiple office and industrial leases, animal-handling facility, manufacturing plant disposition and North American campus repositioning and disposition.
  • Represented major regional healthcare system in redevelopment of buildings on a former pharmaceutical company campus as a medical education facility, including managing relationship with academic partner, coordinating submissions for state entitlement programs, supervising due diligence activities, and negotiating all project documents, including net lease, campus-wide declaration of restrictive covenants and environmental agreements.
  • Lead outside counsel to state sports authority in multi-billion dollar redevelopment of internationally recognized regional sports complex with entertainment/retail center, professional football stadium and passenger rail access.
  • Counseled regional developer in the acquisition of research and development campus, including negotiation of agreement of sale, assessing environmental risks, and completing closing within 35 days of inception of transaction.
  • Consulted with clients to establish cultivation, processing, and dispensary operations, including structuring real estate transactions and documenting equity investments
  • Represented regional housing developer in construction and financing of mixed-use transit- oriented development project in Morristown, New Jersey, including residential, retail and structured parking for shared use by tenants and public transit commuters.
  • Counseled investor in connection with acquisition of interests in a luxury hotel-condominium complex under development in Miami Beach, Florida to be operated by world-renowned restaurant and hospitality company, requiring the negotiation of the purchase and sale of membership interests in the operating entity and a complex package of documents, including construction-contingent purchase and sale agreement and hotel management agreement.
  • Represented nationally recognized overnight package delivery service in the negotiation of a complex lease and sublease arrangement for a new package sorting and distribution facility in Long Island City, Queens to serve the metropolitan New York area.
  • Structured and negotiated complex sublease and leaseback of data and command center in Weehawken, New Jersey for global financial institution, with particular emphasis on high security of sensitive areas and continuity of operations while the building was being refit for the subtenant/tenant.
  • Represented domestic subsidiary of global soda and confectionary conglomerate in build-to-suit lease of $50 million science and technology center.

The Clark Hill approach is equally pragmatic and growth-minded, which is why we understand our clients’ toughest business challenges. Our multidisciplinary, global team of advisors focuses on smart legal solutions, delivered simply.

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