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Practice Areas
Real Estate & Finance
Education
University of Pennsylvania Law School, LL.B. (1965)
University of Pennsylvania, B.A. (1962)
Admissions
Pennsylvania
Memberships
Member, Board of Trustees, Jewish Federation of Greater Philadelphia
Vice President, Board of Directors Adath Jeshurun Synagogue
Member, Board of Overseers (Chairman: 1984 to 1989) Gratz College, Philadelphia
Member, Board of Advisors, Annenberg Center for the Performing Arts, University of Pennsylvania (1992-1994)
Member, Philadelphia Bar Association
Stephen C. Sussman’s practice includes a wide range of real estate activities, including acquisition, sale, leasing, financing development and construction.
Prior to becoming Of Counsel at Klehr, Harrison, Mr. Sussman was Senior Corporate Counsel for Kravco Company (now Kravco Simon Company), a privately-held retail real estate management and development company. During his tenure at Kravco, Mr. Sussman’s primary activities involved borrower mortgage financing, including securitization, development and construction contracts, as well as leasing for the various entities owning the regional malls in Kravco’s management portfolio. Mr. Sussman had previously been a partner in the real estate department of Cohen, Shapiro, Polisher, Shiekman and Cohen.
Significant transactions include:
Bank and borrower representation in construction and permanent financing, primarily in multifamily residential and shopping center contexts, the most recent being borrower representation, as in-house counsel, in the mortgage refinancing of several regional malls with life companies and investment banking organizations;
Review and negotiation, over a five-year period, for a national retail tenant (personally with respect to some and via supervision of associates with respect to others) of 300+ space leases of 3,000 to 6,000 square feet each in shopping centers throughout the United States ranging from neighborhood strips to regional malls;
Preparation and negotiation for a small supermarket operator of fifteen to twenty strip center supermarket leases (approximately 30,000 square fee each);
Preparation and/or negotiation of leases for shopping center owners, including anchor tenant leases and ground leases;
Representation over a decade of a partnership owning an industrial park of approximately 400 acres: drafted and implemented complex declaration of covenants, easements and restrictions; negotiated and closed sales of lots to various industrial users or investor developers, including spin-off partnerships which utilized private purpose bond financing through local industrial development authorities;
Counsel for seller of six strip center package, each center subject to separate financing, requiring resolutions of problems with seller’s mortgages, buyer, buyer’s mortgage, tenants and disaffected limited partners;
Counsel for purchaser in $150 million acquisition of partnership interests of a partnership owning a metropolitan office tower;
Representation of real estate investment trusts in acquisition, financing and sale of shopping centers and apartment complexes, including the formation of general and limited partnerships;
Local counsel representation in acquisition and financing of commercial properties, including review and revision of documents for compliance with Pennsylvania law and practice, coordination of due diligence with respect to local law compliance and the issuance of legal opinions with regard to Pennsylvania law, the enforceability of documents, etc., including representation as local counsel for an investor providing $80 million of mixed debt and equity funding for a regional shopping center. | 