Ashley E. DeLuca focuses her practice on all aspects of transactional real estate work, including the acquisition, disposition, and development of retail, industrial, office, multifamily, hotel and condominium properties, and the representation of landlords and tenants in the leasing of retail and office space. Ashley specializes in the development of commercial, residential and mixed-use condominium projects in Pennsylvania and New Jersey.
Ashley also has significant experience in the area of commercial real estate finance. She represents investment banks, commercial banks and institutional lenders, as well as real estate developers and owners, in connection with permanent and bridge loan originations, CMBS conduit loans, construction loans, preferred equity transactions, mezzanine loans, and other subordinate financing structures. Ashley also represents lenders in refinancings, workouts, and modifications.
Services
- Real Estate
- Real Estate Development and Transactions
- Leasing
- Mixed-Use, Condominium, and Multifamily Development
- Real Estate Finance
- Distressed Real Estate
- Distressed Office Buildings
- Distressed Assets and Opportunities
- Commercial Loan Servicing
- Real Estate Private Credit and High-Yield
- Insurance Company and Institutional Investments
- New York Real Estate Finance
Experience
Representative Matters
- Represented a national developer in its development of a 1.5 million square foot, multi-building mixed-use condominium project in Philadelphia. The mixed-use project will include research, lab, and educational facilities, as well as tech office space, other commercial and retail uses and recreational areas.
- Representation of a national developer in its redevelopment of a historic Philadelphia building into a mixed-use commercial and residential condominium.
- Representation of a private equity real estate investment fund formed by an affiliate of a national homebuilder and a global investment management firm for a $186 million acquisition and land development loan to a national development company. The loan financed the acquisition of a 759 acre land assemblage and provided funds to complete all necessary site work and lot improvements for the project, a 775-lot residential development in Loudoun County, Virginia. The lots were under contract for sale to three national homebuilders upon completion of improvement of the lots on a rolling quarterly takedown schedule. The representation included assisting in the structuring of the transaction and then drafting and negotiating all relevant loan documents. These included a highly structured completion guaranty and subordination agreements between our client and each of the national-homebuilder purchasers of the lots as well as an intercreditor agreement with the seller who provided seller financing secured by a portion of the project.
Professional Highlights
Pro Bono Experience
Representation of a local nonprofit in its development and creation of an Urban Nature Preschool that will encourage exploration of the natural environment through a curriculum centered in play and nature.
Professional Activities
Urban Land Institute, Co-chair of Young Leaders Group, 2016-2018
Commercial Real Estate Women- Philadelphia 2016 to present
Recognition & Accomplishments
Chambers USA, "Associates to Watch," Real Estate (Pennsylvania), 2021; "Associates to Watch," Real Estate (Philadelphia and Surrounds), 2022; "Up and Coming," Real Estate (Pennsylvania), 2023
The Best Lawyers in America "Ones to Watch," – Real Estate Law (Philadelphia), 2021-2024
Legal 500, Real Estate - Land Use/Zoning, 2023
Lawyers Alliance for New York, "Cornerstone Award," 2022
Speaking Engagements
"Updates in Condominium, Cooperative and Planned Community Projects," Pennsylvania Bar Institute, December 2019
"Mixed-Use Condominium Developments: How to Structure, Negotiate, and Draft Documents," Strafford webinar, November 29, 2018
"The State of the Art: Current Issues and Recent Developments in Condo Projects," Pennsylvania Bar Institute, August 2016
Publications
Co-author, "Pennsylvania Condominiums: Model Forms and Commentary," Pennsylvania Bar Institute, 3rd Edition - 2021
Credentials
Education
University of Pennsylvania (J.D. 2011)
Senior Editor, University of Pennsylvania Journal of Constitutional Law; Legal Writing Instructor; Co-director and Instructor, Street Law Project
University of Richmond (B.A., summa cum laude, 2008)
Phi Beta Kappa
Admissions
New Jersey
Pennsylvania