RICHARD FRIES is one of the leaders of Sidley’s Real Estate practice group. According to Chambers USA, “true master negotiator” Richard Fries is a “superstar” who is regarded as “one of the premier real estate litigators in the City.” Chambers notes that he is “extremely well respected for his collaborative approach and expertise in complex workout and restructuring matters.” Richard has been highly recognized by Chambers USA as one of the country’s leading real estate lawyers. He has been ranked by Chambers in “Band 1” in Real Estate Nationwide for 2013 (the year such rankings began), 2014, 2015, 2016, and 2017, in “Band 2” Nationwide in 2018, 2019, 2020, and 2021, and in “Band 1” for Real Estate Finance in New York each year from 2009 through 2022. He has also been recognized as a Leading Lawyer in The Legal 500 for Real Estate, named one of the top ten lawyers in New York City in the 2020 and 2021 Metro Editions of Super Lawyers, and recognized by Best Lawyers as its Real Estate Litigation Lawyer of the Year in New York City in 2019. Richard also received this recognition in 2013. In 2014 and 2015, Who’s Who Legal acknowledged Richard as one of the 10 “Most Highly Regarded” real estate lawyers in all of North America.
In January 2018, Richard was awarded the New York State Bar Association Real Property Law Section’s Professionalism Award, its most significant honor, which recognizes lawyers who evidence the highest attributes of legal ability, achievement, civility and professionalism in the practice of law.
Richard focuses his practice on a wide array of complex real estate financing and workouts transactions, in which he represents national and global institutional lenders, investment banks and private equity firms.
Richard has been involved in the financing, foreclosure and restructuring of permanent, construction, acquisition, bridge and mezzanine loans of all types, including agented and syndicated facilities, secured by office buildings, land development projects, healthcare complexes, hotels, mixed-use projects, condominium and rental apartment buildings, shopping centers, franchise operations and automobile dealerships, among other real estate and business assets.
Richard is particularly distinguished for his work in high-profile distressed commercial loan workouts and restructurings, mortgage foreclosure, distressed portfolio and asset sales, creditors’ rights and insolvency. With a keen understanding of the “last day” of a defaulted loan workout, Richard has developed a unique market-leading practice using litigation tools to restructure real estate loans, projects and businesses. His experience and reputation in loan workouts has been acknowledged by Chambers as “legendary.”
He also has extensive experience representing private equity investors, property owners and developers in real estate joint ventures, commercial real estate litigation, construction, hospitality and partnership disputes, asset disposition, loan portfolio sales and project development.
Richard also represents national lending institutions in the purchase and sale of performing and underperforming loan portfolios, real estate assets and participation interests in loans, and the implementation of national standard loan and workout programs and documentation for real estate, commercial and private banking loan products.
Richard is a member of the firm’s Accounting and Finance Committee.
AWARDS & HONORS
- New York State Bar Association, Real Property Law Section Professionalism Award (2018)
- Chambers USA, Real Estate Finance, New York, Band 1 (2009–2021)
- Chambers USA, Real Estate, Nationwide, Band 1 (2013–2017), Band 2 (2018–2021)
- Expert Guides The World’s Leading Lawyers Chosen by their Peers, Best of the Best USA – Real Estate (2019)
- Best Lawyers, New York City Litigation - Real Estate Lawyer of the Year (2019)
- Best Lawyers, Real Estate and Litigation - Real Estate (2008, 2010–2020)
- The Legal 500, Real Estate (2007, 2009, 2011, 2013, 2015, 2016, 2017)
- International Who’s Who of Real Estate Lawyers (2010–2014)
- Who’s Who Legal, Real Estate (2010–2016) (“Most Highly Regarded,” 2014 and 2015)
- Best Lawyers, New York City Litigation - Real Estate Lawyer of the Year (2013)
- Law360, Real Estate MVP (2011)
- NY Super Lawyers, Top Ten list (2020 and 2021)
- NY Super Lawyers, Top 100 list (2011–2021)
- NY Super Lawyers, Real Estate (2006–2021)
- Guide to the World’s Leading Real Estate Lawyers (2008, 2010, 2012)
- Real Estate Weekly, “All Stars in Real Estate” (2008)