• Share
  • Email
  • Print

L. Penn Clarke

Associate
+1.919.831.7022
Fax +1.919.743.7358
Penn Clarke is an associate in the Raleigh office, where he advises clients in complex commercial real estate transactions involving the development, financing, acquisition, and disposition of retail, office, medical, warehouse, hotel, multi-family, and mixed use real estate matters.

A substantial portion of Mr. Clarke’s practice focuses on representing landlords and tenants in the preparation and negotiation of leases for retail, office, warehouse, solar, and medical properties.

Professional Background

Prior to joining the firm, Mr. Clarke served as temporary law clerk to the Hon. G. Steven Agee, U.S. Court of Appeals for the Fourth Circuit.

Professional/Civic Activities

  • NAIOP Raleigh Durham Chapter, Member
  • University of North Carolina, Young Alumni Leadership Council, Member
  • ULI Triangle, Member
  • Virginia Episcopal School, Class Agent & Reunion Chair
  • Washington & Lee University, Young Alumni Law Council, Member
  • White Memorial Presbyterian Church, Member
  • YMCA of the Triangle, Camps Sea Gull and Seafarer, Alumni Ambassador

Speaking Engagements

  • “Real Estate Practitioner Workshop: Negotiating Key Provisions in Commercial Real Estate Transactions,” University of North Carolina School of Law, November 2015

Additional Information

While in law school, Mr. Clarke served as vice chairman of the Moot Court Executive Board and won the Robert J. Grey, Jr. Negotiations Competition.
  • Represented a REIT in the $2.3 billion acquisition of a portfolio of 72 medical office buildings and development parcels over four serial closings
  • Represented a REIT in the review of the real estate diligence, including leases, loan documents, title and survey, of the merging REIT related to the $5.7 billion merger of the two REITs
  • Represent a large national financial institution in the management, disposition, and leasing of real property acquired through foreclosure
  • Represented a REIT listed on the NYSE in the acquisition, disposition, management and leasing of real property
  • Represented landlords and tenants in commercial lease negotiations for retail, office, warehouse, and medical properties totaling more than 2,000,000 rentable square feet
  • Represented a multi-family investment firm in the acquisition, disposition, and financing of properties in excess of $200 million
  • Represented an international convenience store chain in the acquisition, disposition, development, and ground leasing of real property
  • Represented a developer/borrower in the $50 million refinancing of a portfolio of shopping centers
  • Represented a pension fund in the acquisition of a $75 million mixed use development
  • Represented a multi-family investment firm in the disposition of a $47 million apartment complex
  • Represented a seller in the disposition of a $32 million shopping center
  • Represented a buyer/borrower in the acquisition and financing of a $35 million apartment complex
  • Represented an investment fund in the formation of a joint venture and in the related acquisition and financing of an office building Represented a multi-family investment firm in the acquisition of a $40 million apartment complex
  • Represented a multi-family investment firm in the acquisition and financing of a $34 million apartment complex
  • Represented an investment firm in the $12 million acquisition of a historic office building
  • Represented a developer in the acquisition, financing, development, and leasing of a shopping center