Issue link: https://www.ifoldsflip.com/i/1024442
E ric Diaz is a veteran real estate attorney; he got started in the law in 1996 and he's worked at some of Philadelphia's top law firms including: Ballard Spahr LLP and Morgan Lewis. Ballard Spahr has fifteen offi- ces, approximately 650 attorneys and was founded in 1885. Since April 2016, he started his own firm along with his part- ner, Bradford Lare, in Lare & Diaz which has one office in Philadel- phia and a handful of lawyers. The difference, Diaz told Nego- cios Now, is that with his current firm, he can be more nimble and make decisions quicker. "Nimbleness is the first thing that comes to mind. Our deci- sion making is really quick. I can decide what to take on as a far as clients on the spot. We focus on relationships as opposed to maximizing." Diaz said. For more than two decades, Diaz has focused on helping to close some of the most sophis- ticated and complex real estate transactions around; this inclu- des working all sides of Commer- cial Mortgage Backed Securities (CMBS). Mortgage Backed Securi- ties (MBS) take pools of loans and package them together into bonds; with CMBS, the loans pooled are strictly commercial properties like shopping malls and apartment buildings. Diaz said he has had experien- ce representing all parts of these transactions: from the borrower, the lender and the loan servicer. As the attorney in these sophis- ticated transactions, he also wit- nessed first hand the collapse of the real estate market which led to the financial crisis. "In 2010, everyone saw the effect." Diaz said. "I did see the effect; a lot of people lost their jobs. It was an incredible crash. We were getting some stark rea- lity." His new firm also provides legal advice to condominiums and their association, noting on their website: "LareDiaz currently represents over 4000 Pennsyl- vania Community Association Unit Owners, serves as Commu- nity Association Board Attorney for one of Pennsylvania's largest Community Associations with over 1500 Units and over 3000 residents, and has attended and advised the Community Asso- ciation Master Board at over 150 monthly board meetings, and counting. "As a Board member or Mana- ger, you need legal advice you can trust; someone who will pro- vide efficient, practical solutions to the needs of your community association." Diaz said that his partner focu- ses on those issues. "I focus more on the transactio- nal side." He said. Ironically, Diaz said the worst part of being an attorney is other attorneys. He said some in his field form a position and then stick with it, regardless of what new facts may emerge. He said the best part of his career is bringing numerous people and entities together and ERIC DIAZ TALKS FINANCIAL CRISIS, DEAL MAKING AND MORE Though he's spent many years working in corporate law firms, Eric Diaz's new role as a partner in a smaller firm, allows him greater flexibility and attention to his clients. getting deals done. "To me, it's getting a deal done," Diaz said. "The exciting part of it to me is getting people connec- ted." Diaz noted that in real estate transactions people with varied interests and agendas are brought together, from the borrower to the bank to the loan servicer. With so many competing agen- das, the best deals are the ones where no one is entirely happy. "A s a Board member or Manager, you need legal advice you can trust; someone who will provide ecient, practical solutions to the needs of your community association." USHCC National Convention NegociosNow NegociosNow www.negociosnow.com 16 Diciembre 2008 16 Agosto 2018 NegociosNow NegociosNow Filadeldia