Rick Novak concentrates his practice on commercial and industrial projects for major power generators and technology companies, as well as adaptive reuse development projects and similar real estate investments for investors, banks, insurers and special servicers.

Honors & Distinctions

  • Recognized by The Best Lawyers in America® for Real Estate Law (2013-present)
  • Named a Massachusetts Super Lawyer for Real Estate Law (2004-present)
  • Rated AV® Preeminent™ by Martindale-Hubbell for more than 15 years

Professional Activities

Boston Bar Association

Greater Boston Real Estate Board (Director, 2000-2001)

NAIOP (2000-present)

Real Estate Bar Association for Massachusetts

Real Estate Finance Association (President, 2000-2001)

Urban Land Institute (2010-2014)

Civic Activities

Town of Sherborn, Mass. Zoning Board of Appeals (2013-present; Chairman, 2016-present)

Town of Sherborn, Mass. Planning Board (Chair and member, 1992-98)

Practice Areas

Representative Experience

  • Represent bidder in due diligence on 1,270 MW New England renewable energy portfolio consisting of hydro dams, wind turbines, and gas-fired generation facilities, including ongoing representation of buyer on acquisition of 690+ MW wind and gas-fired facilities
  • Represented international solar energy developer on numerous commercial scale (40+ MW) projects in New England and southeastern United States
  • Represented purchaser in acquisition of 730 MW gas-fired combined cycle facility in waterfront area
  • Represented purchaser in due diligence, permits acquisition and development of proposed 400 MW combined cycle facility
  • Represented purchaser in acquisition of 700 MW gas-fired combined cycle facility
  • Represented project owners in portfolio sale of hydro and oil-fired facilities
  • Represented owner/redeveloper in repowering and reopening failed small scale cogeneration plant
  • Representation of project proponent in peak unit development
  • Representation of project owner in nuclear facility decommissioning

Representative Experience

Redevelopment & Rehabilitation Matters

  • Represented data center developer in conversion of defunct mill city factory into 300,000 sq. ft. first-class technology facility
  • Rehabilitation of an underused 19th century eyeglass manufacturing plant into a first-class hotel/conference center and industrial park
  • 600,000+ sq.ft. of redevelopment projects at former Army, Navy, and Air Force bases
  • Redevelopment of Boston’s historic South Station headhouse

Representative Experience

Traditional Real Estate Matters

  • Represent leading U.S. data center operator in connection with their 700,000+ sq. ft. New England facilities in financing, co-tenant, and subtenant issues
  • Represented ground lessor/co-venturer in creation of ground leasehold commercial condominium units to facilitate advantageous sale of 200+ plus key hotel unit
  • Ongoing representation of leading Cambridge, Mass. educational institution for ground leased 100-acre office/R&D complex
  • Redevelopment of office building fronting historic Boston Public Garden into first-class luxury condominiums
  • Representation of national entertainment conglomerate in connection with operation/regulation of Massachusetts facilities
  • Represented owner of 200,000+ sq. ft. regional shopping center in recapitalization and repositioning joint venture including key lease termination and replacement
  • Advising the foreign parent of a domestic insurer in connection with the REMIC securitization of a real estate loan portfolio with a value in excess of $1.6 billion

Workout & Distressed Real Estate Matters

  • Representation of owner partnerships in successful high-profile $700 million bankruptcy restructuring and recapitalization of Boston’s largest office complex
  • Representation of lead lender in loan modification, extension, and substantial pay down of $120+ million loan for multifamily urban renewal project
  • Representation of lead lender in dual track note sale/sale of Final Judgment of Foreclosure for $25+ million Southeastern midrise condominium project
  • Representation of lead lender in receivership and deed in lieu of foreclosure for $50+ million Southeastern high rise condominium project
  • Representation of lead venturer in non-bankruptcy restructuring and refinancing of defaulted $300 million retail project
  • Representation of lender in dual track note sale and foreclosure process for $40+ million loan secured by seven New England properties, yielding full recovery of all principal, interest, costs, and expenses
  • Representation of lender in loan modification, substantial pay down, and loan extension for $50+ million midwest regional shopping center
  • Representation of lender in $25+ million deed in lieu of foreclosure on mid-Atlantic retail development
  • Representation of lender in cross-collateralization and security arrangement acquiring mezzanine pledges of interests and distributions among 12 related loan facilities
  • Representation of lead REO owner in disposition of $11+ million multi-use development project
  • Representation of foreign bank regulatory body in connection with structuring and realization strategies for $50+ million in USA real estate interests
  • Representation of special servicer in administration and foreclosure of CMBS loans
  • Representation of lead lender in distressed $65+ million loan for multi-use project with hotel, retail, and residential components
  • $300 million disposition of a major insurer’s largest real estate investment through complex minimum return assurances, retained interests, and trailing indemnities
  • Supervision of a life insurer’s entire real estate portfolio during receivership including the design, negotiation and complete resolution of a complex series of intercompany real estate claims exceeding $100 million