Overview
"One of Hirschler's first rainmakers, Jay Weinberg, once told me that a successful lawyer makes her friends her clients, and her clients her friends. The most rewarding aspect of my practice is the partnership I form with clients over time. Serving 'in the trenches' together, we form a bond that moves from 'lawyer-client' to lasting friendship."
Carrie O’Malley, chair of Hirschler's Commercial Real Estate Finance and Investment Practice Group, advises clients on innovative investment structures related to commercial real estate. Carrie has more than 28 years of practice experience closing sophisticated, commercial real estate and finance transactions across the country. Over the past eight years, she has developed a niche practice in the rapidly-evolving Property Assessed Clean Energy (PACE) industry.
PACE Financing
Carrie leads Hirschler’s multidisciplinary commercial PACE (C-PACE) team, which to date, claims national C-PACE experience in 17 of the 33 states that have closed C-PACE transactions, including the District of Columbia.
Carrie is a recognized national C-PACE expert and is actively involved in the development of the Virginia C-PACE market. She advises capital providers and property owners on all aspects of C-PACE deals—from financing structures, to real estate due diligence, to negotiation and compliance matters. With extensive C-PACE knowledge in a variety of jurisdictions, Carrie also is a valuable advisor for local governments and program administrators throughout the lifecycle of C-PACE projects. Carrie’s strategic and pragmatic approach to C-PACE deals often results in improvements to and standardization of C-PACE program documents and closing processes.
Notably, Carrie was involved in several C-PACE funding “firsts:” the first C-PACE-funded office construction project in the United States (Milwaukee, Wisconsin); the largest and first-ever new construction C-PACE transaction in the District of Columbia (D.C. United Stadium/ Audi Field); and the first rated C-PACE securitization in the country.
In addition to her established C-PACE practice, Carrie has a long history representing clients on commercial real estate acquisition, development, financing, leasing, and disposition transactions. A significant part of her practice is devoted to representing national real estate investors and lending institutions in the acquisition, financing, servicing, and sale of distressed commercial loan portfolios. This work has involved loan pools of conventional mortgages (performing, non-performing, and REO), as well as commercial, economic development loans across the United States and in Puerto Rico.
Recognition
ESG Trailblazer Award, Commercial Real Estate Women (CREW), 2023
Martindale-Hubbell® AV Preeminent® - This is given to attorneys who are ranked at the highest level of professional excellence for their legal expertise, communication skills, and ethical standards by their peers.
Selected to Inaugural Class of Virginia's “Influential Women in the Law,” Virginia Lawyers Weekly, 2019
Named to “Legal Elite” (Real Estate/Land Use), Virginia Business, 2013 - 2015 and 2018
Named to “Legal Elite” (Legal Services/Pro Bono), Virginia Business, 2007, 2011 - 2012 and 2016 - 2017
Selected as “Influential Woman of Virginia,” Virginia Lawyers Weekly, 2010
Recipient, Women of Distinction Award (Law), Girl Scout Commonwealth Council of Virginia, 2009
Named to “Legal Elite” (Young Lawyer), Virginia Business, 2006
Experience
Experience
Advised Fredericksburg Nationals Minor League Baseball Team (FredNats), the Single-A affiliate of the Washington Nationals, on all aspects of C-PACE financing for the FredNats’ $35 million development of its state-of-the-art, 5,000-seat, multi-use stadium.
Engaged by EagleBank to replace its existing counsel in the final stages of a $25 million C-PACE financing, which was an integral component of the $300 million D.C. United soccer stadium project. Educated all deal parties, including senior lender Goldman Sachs and its counsel, with her extensive C-PACE knowledge, leading to the successful closing of D.C.’s largest and first-ever new construction C-PACE deal in less than a month after she was initially engaged.
Served as lead counsel for a national REIT in connection with Fannie Mae’s Delegated Underwriting and Servicing (DUS) financing program.
Coordinated, negotiated, and closed the sale of a complex, New Jersey Superfund Site to a Potentially Responsible Party Group and worked with local New Jersey counsel to navigate challenging environmental issues associated with the property sale.
Advised various C-PACE stakeholders (capital providers, property owners, local governments, and program administrators) on transactions in 17 of the 33 states with active C-PACE programs, including the District of Columbia.
Represented financial institutions and investors in the purchase, sale, and/or financing of dozens of commercial loan portfolios in the United States and Puerto Rico, amounting to nearly one billion dollars in loans.
Organized and closed a $400 million multi-state Fannie Mae DUS financing, consisting of over 30 multi-family properties throughout the United States for a national REIT client.
Represented the nation’s largest wireless telecommunications company in infrastructure deployment transactions, including land use/zoning, leasing, title, and environmental matters throughout Virginia, West Virginia, North Carolina, Maryland, and D.C.
Closed hundreds of commercial real estate transactions with an aggregate value in excess of several billion dollars, including transactions ranging from one million to several hundred million dollars.
Represented national real estate sponsors of tenant-in-common syndications in the acquisition, disposition, and leasing of commercial real estate throughout the country, including defeasances of securitized loans and mezzanine lending transactions.
Perspectives
News
Speaking Engagements
Publications
Community
Beyond the Law
Beyond the Law
A longtime resident of the City of Fredericksburg, Carrie has a strong connection to her community. Carrie is actively involved in local and regional causes, lending time and support as a Board Member of Empowerhouse (a non-profit organization providing lifesaving shelter and critical services to Fredericksburg-area victims of domestic violence and their children). Carrie also is an avid supporter of The Josh Hardy Superhero Celebration, benefiting the Fairy Godmother Project (a non-profit organization that provides family services and financial support to Fredericksburg-area families facing pediatric cancer) and CancerLINC (previously known as the Legal Information Network for Cancer, a Richmond non-profit organization that connects cancer patients and their families to legal, financial, and community resources). In September 2015, Carrie trained for and performed with other business leaders at “Dancing with the Fredericksburg Stars,” a charity event where she was recognized with the “Most Flair” award.
Carrie’s is affiliated with the following professional associations: the Northern Virginia Chapter of the Commercial Real Estate Women (CREW) Network, the Virginia PACE Authority (a non-profit C-PACE Program Administrator and industry stakeholder group working to advance C-PACE initiatives in Virginia), and the C-PACE Alliance (a national non-profit C-PACE industry group).
Consistent with her “can do” attitude, Carrie completed the rigorous, four-year JD-MBA joint degree program at the University of Richmond in only three years of study. At Hirschler she serves as Chair of the Commercial Real Estate Finance and Investment Practice Group, Chair of the Commercial Real Estate Legal Opinion Committee, past Chair of the Board Nominating Committee, an active participant (and former Chair) of the Women's Initiatives Network (WIN), and the former Chair of the Commercial Real Estate and Finance Associate Development Program.
Carrie and her supportive husband, Michael, have been enjoying their lives as empty nesters for the last few years, as their accomplished children embark on adulthood. Their son, Rainey, graduated with honors from the University of South Carolina in May 2024, and their daughter, Landon, started her junior year at Virginia Tech in August 2024. Though a quiet house is sometimes bittersweet, Carrie’s thriving law practice, her crafting hobbies (which include painting wine glasses and making cork wreaths, trivets, and purses – a byproduct of Carrie’s other favorite hobby), and the family pets (a Labrador Retriever, an English Setter, and a rescue cat) keep Carrie very busy.
Carrie grew up enjoying summers on the Potomac River. In her spare time, she and Michael enjoy weekends at her family’s river house, soaking up the natural beauty of Caledon State Park, a neighboring bald eagle sanctuary.
Services
Education
University of Richmond School of Law, J.D., 1996*
Richard S. Reynolds Graduate School of Business at the University of Richmond, M.B.A., 1996*
E. Claiborne Robins School of Business at the University of Richmond, B.S.B.A., 1991
*Carrie completed a rigorous, four-year JD-MBA joint degree program at the University of Richmond in only three years of study.
Admissions
- Virginia
WebinarCouncil of Development Finance Agencies (CDFA) WebCourse, "PACE Financing Case Studies," Planner and Presenter
ConferenceABA 36th Annual RPTE National CLE Conference, "Powering Progress: Unleashing the Potential of Commercial Real Estate with C-PACE Financing," Planner and Presenter
WebinarStrafford CLE Webinar, "Green Loans and C-PACE Financing in Commercial Real Estate: Loan Structures, Principles, Guidelines," Planner and Presenter