Karen C. Fagelson

Karen focuses her practice on the real estate industry in the Washington, D.C. metropolitan area and is an experienced real estate lawyer who represents developers, builders, investors and users of commercial and residential real estate. Karen served as Managing Partner for the Virginia Region of Reed Smith, from 2005-2013.

In the early 1980s, Karen worked on the Torpedo Factory, a major public-private waterfront redevelopment in the City of Alexandria, and public-private partnership work has continued to be an important part of her practice. Because of her early involvement in this area, she has first-hand experience with all aspects of these projects, including construction and development financing and refinancing. She brings a unique perspective to this practice area, having represented both governmental agencies and developers in these transactions.

Another area of focus for Karen has been the representation of developers of large-scale mixed-use developments, including acquisition and development financing, infrastructure agreements, repurchase agreements, CATV and Internet service agreements, master owners association documents, commercial lot out-sales and leases for uses as diverse as a resort and conference center, an exposition center, a hospital, an age-restricted community, apartments, shopping centers and other retail uses, owner-occupied and speculative office buildings, medical office buildings, day-care facilities, and golf courses, and sales agreements for residential lots and land bays.

Karen has enjoyed a substantial leasing practice over the years and has represented both landlords and tenants, from start-up entrepreneurial ventures to well-established major corporations, in leases for office, industrial and retail space. Her long-term lease practice has involved not just the negotiation and drafting of air rights and ground leases, but also the financing, acquisition and sale of leasehold interests.

She also counsels clients on the acquisition and disposition of improved and unimproved residential and commercial property. Her representation of these clients includes preparation and negotiation of purchase and sale agreements, review and negotiation of loan documents for acquisition, construction and permanent financing, review of title and survey, review and preparation of easements, restrictive covenants, and related matters.

Karen's clients have included Fortune 500 companies, real estate developers, national builders, government entities and associations.

Good to know

Areas of Practice 1) Real Estate, 2) Real Estate Finance, 3) New Markets Tax Credit and 4) Real Estate Investment Trusts (REIT)
Law School Cornell Law School, 1980, J.D.
Education St. John Fisher College, 1977, B.A.
Bar Member / Association District of Columbia Bar Association, Virginia State Bar Association
Most recent firm Reed Smith LLP
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