David Ledy

Adjunct Professor

Mr. Ledy is the Chief Operating Officer of U.S. Realty Advisors, LLC (“USRA”), a leading authority in the area of acquiring, structuring and financing corporate real estate.  USRA is an equity investor in corporate real estate and provides real estate advisory services to a diverse base of clients, including public companies, financial institutions as well as major private developers and investors.

Mr. Ledy’s responsibilities include sale-leaseback portfolio acquisitions and structuring, corporate advisory services, structured real estate financings and real estate workouts.  Mr. Ledy has structured, acquired and financed over $7 billion of real estate on behalf of the principals of U. S. Realty Advisors, LLC and major clients such as SunAmerica, Inc., Nestle, S.A. and GE Capital Real Estate, among others.  More recently, Mr. Ledy developed a proprietary finance structure with McDonald’s Corporation pursuant to which USRA acquired 838 McDonald’s restaurant properties in 47 States and the District of Columbia.  During his tenure at USRA, USRA developed a private REIT finance structure with J. P. Morgan Bank, structured and securitized mortgages and equity receivables on leveraged lease transactions on behalf of AT & T Broadband (formerly U.S. WEST) and structured a participation between USRA and the US Postal Service in ground lease receivables on 450 Lexington Avenue, New York City.

Prior to joining USRA in 1991, Mr. Ledy was a partner in the New York law firm of Shea & Gould where he was a member of the real estate department and chairman of the real estate workout group.  At Shea & Gould, Mr. Ledy focused on transactional real estate, with an emphasis on sale-leaseback transactions, acquisitions, structured finance and real estate restructurings.  Prior to his experience at Shea & Gould, Mr. Ledy served as a senior real estate litigator at Weil Gotshal & Manges.

Mr. Ledy is a graduate of the New York Law School (JD, cum laude, 1974) and Lehigh University (BA, with honors, 1970).

Mr. Ledy was admitted to the United States District Court for the Southern District of New York in 1975 and the Courts of the State of New York in 1975.  Mr. Ledy is also a member of the Board of Directors of FX Real Estate and Entertainment, Inc. (NASDAQ: FXRE)