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Tina Makoulian


Ballard Spahr LLP

Represented developer in a ground-up project at University of California Sacramento

Represented fund manager in national multifamily portfolio sale totaling $698 million

Tina Makoulian is a partner at Ballard Spahr. Her nationwide practice encompasses acquisitions, dispositions, leasing, and development in the multifamily, retail, office, mixed-use, industrial, and life science sectors. Her clients have included investment fund managers, national retail landlords, a Major League Baseball team focused on building a new ballpark, and developers of all property types.

Notable transactions include lead partner representing a national developer of innovative scientific research and office communities in a collaboration with the University of California.  The project involved the ground-up development of approximately 8.25 acres at the University’s Sacramento campus.

She also represented a Philadelphia-area investment fund manager in multifamily portfolio acquisitions and dispositions across the country, including the sale of 38 multifamily properties in Florida, Georgia, Missouri, North Carolina, Pennsylvania, Texas and Virginia for a sales price of $698 million and the purchase of 27 multifamily properties in North Carolina, Pennsylvania, and Virginia for a purchase price of more than $434 million.

Makoulian was one of the youngest women elected to the American College of Real Estate Lawyers (ACREL) and has served on its Board of Governors. She is a past president of the Philadelphia chapter of the CREW and served on the organization’s national board. She has also served on the Board of Directors and Advisory Board for The Community Design Collaborative.

She has been a lifelong member of the Armenian Martyrs’ Congregational Church, where she has served on numerous committees and boards, including as Chair of the Board of Trustees. Makoulian has also been actively involved with the Armenian Missionary Associate of America (AMAA).

Makoulian has been recognized by Chambers U.S.A., the Legal 500 U.S. and Best Lawyers in America, and was honored by Philly Power Women as a Leader in Commercial Real Estate. She earned her law degree from the Villanova University School of Law.

These are some of the reasons why we are honoring Tina Makoulian with Connect CRE’s 2023 National Lawyers in Real Estate Award. The award celebrates real estate attorneys who have distinguished themselves in their practice and the larger community.


Inside The Story

Ballard Spahr's Tina Makoulian

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