Alicia B. Clark

Tel 303.299.7341
Fax 303.296.3956

Alicia B. Clark is Co-Team Leader of the Insurance Company and Institutional Investments Team. She practices general real estate law, with a focus on financing, leasing, acquisitions, and dispositions. Alicia has substantial experience representing lenders and borrowers in acquisition loans, permanent financing, and bridge loans. She also represents lenders, servicers, and investors in connection with workouts and foreclosures. Alicia regularly represents institutional owners in commercial leasing of industrial, office, and retail properties, as well as various data center and industrial tenants in their leasing activities across the country.

Representative Matters

  • Represented a large life insurance company in connection with a $350 million financing of a Class A retail center in Waikiki, Hawaii, of more than 300,000 square feet with high-end tenants that included Tiffany and Company, Hermes of Paris and Salvatore Ferragamo. This transaction was highly complex due to the ground lease structure of the property and was closed in an expedited time frame.
  • Represented the purchaser of a Southeast Denver area office building leased by a single tenant, which included negotiation of a purchase and sale agreement and related documents and extensive negotiations with the tenant related to deferred maintenance of premises and drawdown of letter of credit held as security deposit
  • Represented the owner of a Southeast Denver area office building in connection with negotiation of a lease of more than 150,000 square feet to a health care industry tenant; the lease included significant tenant improvements and allowance, expansion rights, early termination right, rights of first offer and refusal, and other heavily negotiated provisions
  • Represented a tenant of a Downtown Denver office building in connection with a 50,000-plus-square-foot sublease, including phased commencement dates, significant rights to occupy a portion of the tenant's data center, and negotiation of prime landlord's consent to sublease
  • Represented a pension plan adviser in its development and disposition of approximately 145 acres of industrial and office-zoned vacant land in the Denver metropolitan area
  • Represented a multinational company in the disposition and leasing of various manufacturing and related facilities across the country, including the sale of more than 18,000 acres of in-fill property in Colorado with significant environmental issues
  • Assisted in the representation of a large state employees' retirement system on the financing (structuring and purchase of the B tranche) of the senior subordinated note on two hotels in Colorado and Nevada
  • Represented the purchaser of portfolios of defaulted loans from HUD in connection with the foreclosure and/or sale of the loans secured by multifamily properties in Colorado
  • Represented a special servicer and a large commercial mortgage company in connection with the workout and foreclosure of defaulted mortgage loans secured by assisted living facilities and office buildings in Colorado
  • Represented large life insurance companies in connection with various loans, including a $27 million loan secured by a multifamily property in Adams County, Colorado; the assumption of a $25 million loan secured by a downtown Denver office building; a $30 million loan secured by a new urban center in Denver comprising retail, office, and apartment properties; a $55 million loan secured by a California development comprising three office buildings, a health club, a restaurant and a parking garage; a $20 million construction loan and amendment to an $83 million loan and cross-collateralized and cross-defaulted with a $5 million loan secured by commercial property in Longmont, Colorado; a $48 million loan secured by a new retail center in the Denver metropolitan area, and involving complex negotiations with the construction lender and the local municipality concerning sharing of tax incentives
  • Represented a large life insurance company in its sublease of approximately 230,000 square feet of office space in a Class A office building in downtown Denver
  • Represented a very large individual investor who, along with a large commercial mortgage company, advanced money and guaranteed incremental loans to a Colorado limited liability company with subsidiary companies throughout the United States
  • Represented a large state employees' retirement system in a mezzanine loan to the ownership entity of an Orlando hotel
  • Represented a REIT in establishing and negotiating a loan program with a life insurance company to finance the client's multifamily properties throughout the United States
  • Represented a developer in connection with property assemblage, entitlements, and sales of lots for residential homes
  • Assisted in the representation of a ski-area owner and operator in the acquisition of a ski area in California

Professional Activities

American Bar Association

Colorado Bar Association

Denver Bar Association

Urban Land Institute

Ballard Spahr's Diversity and Inclusion Council

Recognition & Accomplishments

Chambers USA, Real Estate, Colorado, 2020


Co-author, "Build a Better Boat: Women in Law: 47/44/20," Law Week Colorado, May 9, 2016 

"Medical Office Leases: Key Considerations for Negotiations and Compromise," BOMA Magazine, July/August 2015

"Data Center Leases: Critical Industry-Specific Provisions Protect Tenants," Colorado Real Estate Journal, August 20, 2013

"Are Carve-Outs to Nonrecourse Loans Only for the 'Bad Boys'?" Colorado Real Estate Journal, July 3, 2012

"Access Agreements: Landlord, Tenant and Tenant's Lender Rights," Colorado Real Estate Journal, June 15, 2011

"Medical Office Leases: Strike Balance, Satisfy Needs of All ," Colorado Real Estate Journal, May 19, 2010

"Subleasing Rules for the Road," National Real Estate Investor, January/February 2010

"Planning for Vacating Tenants," Colorado Real Estate Journal, May 6, 2009

Speaking Engagements

“Top Ten Mistakes in Real Estate Transactions,” a Colorado Bar Association CLE, March 7, 2019

"Current Trends in Real Estate Opinion Practice," a Colorado Bar Association CLE, October 16, 2015 

University of Colorado Law School (J.D. 1995)
Production Editor, University of Colorado Law Review; Member, Order of the Coif

Rutgers University (B.A. 1991)