Ballard goes beyond the conventional, blending deal experience with business acumen to guide clients across public and private markets and throughout the capital stack in a wide range of sophisticated debt and equity transactions.

With nearly 120 lawyers nationwide—and teams focused on specific industry sectors, project types, and deal structures—we are trusted advisers with a history of efficiently closing deals and delivering value to our clients as we work to achieve their business goals. Today's markets are complex and fast-moving, while individual transactions often present unique issues requiring customized solutions. Our attorneys have the legal and business skill and experience needed to address the demands of the debt and equity markets and the nuances of each deal.



  • Ballard Spahr served as P3 counsel to the Virginia Department of Transportation (VDOT) in connection with the development of high-occupancy toll (HOT) lanes along the I-95/I-395 corridor just south of Washington, D.C., which was procured as a DBFOM project. Ballard Spahr also represented VDOT in connection with the development of HOT lanes on an extension of the I-95 HOT Lanes Project down to the Fredericksburg area (Fredericksburg Extension). Ballard Spahr structured, drafted and negotiated the Comprehensive Agreement covering the construction, operation, maintenance, and financing of the project, and worked with VDOT and VDOT's consultants on the Comprehensive Agreement.

Energy and Project Finance

  • Ballard Spahr served as counsel to the project developer / borrower of a 100 MW solar project in Utah. The development effort in Utah was challenging and pioneering, as the Ballard Spahr team supported client efforts to amend legislation and obtain public service commission rulings. The financing involved senior long term debt from a major insurance company, and tax equity from a US technology company, alongside sponsor equity from the developer's European parent company.

Housing Finance

  • Ballard Spahr represented the developer of the Stein Eriksen Residences, consisting of 14 luxury detached homes and 40 luxury ski-in/ski-out condominiums at Silver Lake Village in the heart of the Deer Valley Resort area in Park City, Utah. The project was affiliated, by licensed name and common management company, with the iconic Stein Eriksen Lodge in Deer Valley. The development project also included amenities such as a spa, pool, ski shop, ski lounge, dining area, bar/lounge, and fitness center. Ballard Spahr advised the developer on structuring the mixed-use, condominium, and common ownership regime and drafting of related documentation. The firm also guided the project through extensive land use and other regulatory approvals.

Public Finance

  • Ballard Spahr served as disclosure counsel to the City and County of Denver in a $2.5 billion transaction to fund improvements to the Denver International Airport—the largest single airport bond issuance in U.S. history. The project was named 2018 Deal of the Year by The Bond Buyer. The funds are earmarked for capital improvement projects that include the addition of 39 new gates and redevelopment of the 1.2 million square-foot Jeppesen Terminal.

Real Estate Finance

  • Ballard Spahr serves as lead finance and real estate counsel to River District Neighborhood Investors LLC, master developer of The River District, a sprawling, $1 billion project to transform the Mississippi Riverfront in New Orleans. The project will revitalize 27 acres of waterfront land adjacent to the Morial Convention Center New Orleans. Ballard Spahr attorneys are helping to guide the project through multiple phases of infrastructure development and construction of residential, office, and retail components. Phase One focuses on expanding and enhancing gathering space to create a dynamic hub of commerce, culture, and community through construction of facilities for entertainment, housing, arts and culture, retail food and beverage, street-front shops, public areas, and green space. Construction is slated to begin in late 2022.
  • Ballard Spahr represented the senior lender in a construction loan for a single-tenant corporate headquarters building in Indiana, which included a tax increment bond component. This project involved the unique risks involved in a single-tenant project, a construction project and a project to be constructed both with loan funds as well as proceeds from a tax increment bond facility, which required a structure to coordinate the disbursement of proceeds from each component.

Commercial Finance

  • Ballard Spahr has represented PNC for over seven decades, including recently, representing the bank, as administrative agent, in a $600 million credit facility involving U.S, and foreign borrowers from the United Kingdom. We also represented PNC Bank, as Administrative Agent, in a $65 million secured asset based facility as part of a $355 million financing package to facilitate a private equity buy-out of a leading telecom services business.