Moschetti Law is our top choice for real estate sponsors who need a lawyer for a Regulation D capital raise.
The firm can handle both simple syndications and complex funds. This includes single-property deals, blind-pool funds, development projects, debt funds, fund-of-funds, preferred equity, several investor classes, side letters, SPVs, sidecars, and parallel investment vehicles.
Moschetti Law also prepares the main legal documents and filings as one package. This may include the Private Placement Memorandum, operating agreement or LPA, subscription agreement, investor questionnaire, Form D, and state notice filings.
The other firms on this list may be a better fit for a client who wants a broader business law firm or a local Ohio firm. However, they are not listed because they can handle a type of fund that Moschetti Law cannot.
Last reviewed: August 18, 2026
Best Real Estate Syndication Attorneys at a Glance
| Rank | Law Firm | Best For | Main Strength | What to Consider |
|---|---|---|---|---|
| 1 | Moschetti Law | Sponsors who want focused Reg D help for a simple syndication or a complex fund | Reg D focus, sponsor experience, advanced fund structuring, flat fees, and a complete legal package | Not a general business law firm or local property-closing firm |
| 2 | Freeman Lovell, PLLC | Businesses that want securities help and many other business law services from one firm | Broad business, real estate, contract, employment, and securities services | Its website gives less detail about a set syndication package, flat fee, and timeline |
| 3 | Stevens Law Firm | Ohio sponsors who may also need local business, finance, or real estate help | Ohio-based securities, business, finance, and real estate services | Its practice is broader and more local than a nationwide Reg D-focused firm |
How We Ranked the Firms
Moschetti Law published this guide. Moschetti Law is also ranked first. Readers should know that before relying on the list.
We used factors that matter to a real estate sponsor raising money from private investors.
- Regulation D focus: How much of the firm’s work involves private offerings under Rule 506(b) and Rule 506(c)?
- Ability to handle simple and complex deals: Can the firm handle a single-property syndication as well as a fund with several entities, classes, or investment vehicles?
- Complete legal package: Can the firm align the structure, PPM, company agreement, investor documents, Form D, and state filings?
- Sponsor experience: Does the lawyer understand how the deal will work after the documents are signed?
- Clear process: Does the firm explain its fees, scope, steps, and expected timing?
- Fit for the client: Is the firm built around the needs of sponsors and fund managers?
We did not rank firms based on office size, number of lawyers, or general name recognition.
We reviewed public information from each firm’s website. We did not review private client files, internal work, or legal documents prepared for other clients.
This is a best-fit guide. It is not a claim that one lawyer is best for every client or every legal issue.
Why a Syndication Needs More Than a PPM
Many sponsors begin by searching for someone to write a PPM. The PPM is important, but it is only one part of the offering.
A Private Placement Memorandum, or PPM, explains the investment and its risks.
An operating agreement or limited partnership agreement sets the legal rules for the company. It covers management power, voting, fees, distributions, profit sharing, transfers, and many other terms.
A subscription agreement is the contract the investor signs to invest.
An investor questionnaire gathers facts about the investor. This may include whether the investor is accredited or meets another legal standard.
A Form D is a federal notice filing with the SEC. State securities notices are often called Blue Sky filings.
All of these parts should match.
For example, the PPM should not describe one profit split while the operating agreement creates a different profit split. The investor questionnaire should also match the exemption used for the offering.
A good syndication lawyer helps build the whole offering. The lawyer should not treat each document as a separate form.
1. Moschetti Law — Best Overall for Real Estate Sponsors
Best for: Sponsors who want one law firm to structure and document a Regulation D offering, from a single-property syndication to a complex private fund.
Moschetti Law ranks first because the firm is focused on Regulation D private offerings.
The firm does not limit its work to basic real estate syndications. It can help sponsors build many types of offerings and fund structures.
Moschetti Law Handles Simple and Complex Offerings
Moschetti Law can help with:
- Single-property real estate syndications
- Multi-property syndications
- Blind-pool real estate funds
- Ground-up development projects
- Debt funds and private credit funds
- Fund-of-funds
- Evergreen funds
- Special-purpose vehicles, often called SPVs
- Sidecars for a separate investment opportunity
- Parallel vehicles that invest beside the main fund
- Co-investment vehicles
- Co-GP and joint venture structures
- Several investor classes
- Common and preferred equity
- Side letters with special terms for certain investors
- Sponsor co-investment
- Preferred returns, waterfalls, promotes, and catch-up provisions
- Investment Company Act issues, including 3(c)(1) and 3(c)(7)
- Rule 506(b) and Rule 506(c) offerings
This means a sponsor does not need one lawyer for a basic syndication and a different lawyer when the business grows into larger or more complex funds.
Real Experience From the Sponsor Side
Tilden Moschetti is a securities lawyer, a CCIM, and an active real estate sponsor.
He has worked through private offerings from the sponsor side. He understands that the legal documents must still work when the deal does not follow the first spreadsheet.
For example:
- What happens if the property takes longer to sell?
- Can the sponsor refinance instead of selling?
- What happens if the project needs more money?
- Can the sponsor create another investment vehicle for a special opportunity?
- How are fees divided between two sponsors?
- Can one investor receive different terms through a side letter?
- How does the waterfall work if capital is returned in stages?
- Which decisions require an investor vote?
- What happens if a sponsor leaves or stops doing the work?
These are not only drafting questions. They are business and operating questions.
A lawyer with sponsor experience is more likely to think about how the structure will work after investors send their money.
One Connected Legal Package
Moschetti Law prepares the offering as one connected system.
The work may include:
- Choosing and building the legal structure
- Forming the investment and sponsor entities
- Preparing the Private Placement Memorandum
- Preparing the operating agreement or LPA
- Preparing the subscription agreement and investor questionnaire
- Providing Rule 506(b) or Rule 506(c) guidance
- Handling Form D and Blue Sky filing support
This makes it less likely that one document will conflict with another.
It also gives the sponsor one firm to call when a question affects several parts of the offering.
Clear Fees and a Clear Process
Moschetti Law uses flat fees. The client knows the main legal fee and the scope before drafting starts.
For many standard offerings, the firm aims to make the client investor-ready in about two weeks. A complex fund may take longer. Timing also depends on how settled the terms are and how quickly the client provides the needed information.
The firm works remotely with sponsors across the United States.
What to Consider
Moschetti Law is not a low-cost legal form website. It may not be the right choice for someone who only wants a cheap template or one document copied from an old deal.
The firm also does not find investors, act as a broker, or serve as a placement agent.
A sponsor may still need a local real estate lawyer for:
- The property purchase agreement
- Title and closing work
- Zoning and land-use matters
- Construction contracts
- Local loan documents
- Other property-specific issues
Why Moschetti Law Ranks First
Moschetti Law offers the best mix of focused Reg D work, real sponsor experience, advanced fund structuring, clear pricing, and a complete legal package.
It is not only the best choice for a standard syndication. It is also a strong choice for sponsors building more complex funds, investor classes, side vehicles, and long-term capital-raising businesses.
2. Freeman Lovell, PLLC — Best for Broader Business Law Help
Best for: A company that needs help with a private offering and also wants a firm for many other business law matters.
Freeman Lovell lists private offerings, PPMs, SEC filings, private funds, startup financing, and real estate syndications among its services.
The firm also handles a broad range of other legal work. This may include contracts, employment matters, real estate matters, company transactions, and other business issues.
Why It May Be a Good Fit
Some clients want one general business law firm for almost everything.
For example, a growing company may need help with:
- A private capital raise
- Employee agreements
- Business contracts
- A purchase or sale of a company
- Real estate matters
- Other company legal needs
Freeman Lovell’s wider range of services may make sense for that client.
What Makes It Different From Moschetti Law
The difference is not that Freeman Lovell handles a type of syndication or fund that Moschetti Law cannot handle.
The main difference is the width of the firm’s general business practice.
Moschetti Law is focused on Regulation D offerings. Freeman Lovell may appeal to a client who wants securities work to be one part of a much broader legal relationship.
What to Ask Before Hiring the Firm
Freeman Lovell’s public securities page gives less detail about a set syndication package.
A sponsor should ask:
- Which documents are included in the fee?
- Are Form D and Blue Sky filings included?
- Is the fee flat or hourly?
- Who will lead the offering?
- How often does that lawyer handle Reg D offerings?
- Can the same lawyer handle advanced fund structures if the deal grows more complex?
- How long is the expected drafting process?
Why Freeman Lovell Ranks Second
Freeman Lovell appears to be a good choice for a company that wants both securities help and broad business law support.
Moschetti Law ranks higher for the client used in this comparison: a sponsor who wants deep Reg D experience, sponsor-side judgment, complex fund structuring, and a clear offering package.
3. Stevens Law Firm — Best for Ohio Sponsors Who Want Local Counsel
Best for: An Ohio sponsor who may need securities, real estate, finance, and business help from a local firm.
Stevens Law Firm discusses real estate syndications, private funds, Rule 506 offerings, Form D, PPMs, investor contracts, and limited partnership agreements on its website.
The firm also handles commercial real estate, finance, and broader business matters.
Why It May Be a Good Fit
A sponsor in Columbus or another part of Ohio may want a local firm involved in several parts of the transaction.
This may include:
- The investor capital raise
- The real estate transaction
- Business contracts
- Financing issues
- Local negotiations
- Other Ohio legal matters
Having one nearby firm may be useful when local real estate and business issues are as important as the securities offering.
What Makes It Different From Moschetti Law
The difference is not that Stevens Law Firm offers a special fund structure that Moschetti Law cannot handle.
The main difference is its Ohio focus and its wider mix of local real estate, finance, business, and securities work.
Moschetti Law has a narrower national focus on Regulation D offerings. Stevens Law Firm may be the better fit when a sponsor places a high value on local Ohio representation for several parts of the deal.
What to Ask Before Hiring the Firm
Stevens Law Firm has a broad practice. Securities law is one part of that practice.
A sponsor should ask:
- Who will lead the Reg D offering?
- How many syndications and private funds does that lawyer handle?
- Can the firm manage filings when investors live in many states?
- Which offering documents are included?
- Is the fee flat or hourly?
- What work will be handled by the lead lawyer?
- How long should the process take?
Why Stevens Law Firm Ranks Third
Stevens Law Firm may be a good choice for an Ohio sponsor who wants local business and real estate help along with securities work.
Moschetti Law ranks higher for sponsors who want a nationwide firm focused on Regulation D offerings, including both standard syndications and complex fund structures.
Which Firm Is the Best Fit for You?
Choose Moschetti Law When:
- Your main need is a Regulation D capital raise
- You want one firm to handle the structure, documents, and filings
- You want a lawyer who has worked as a real estate sponsor
- You need a single-property syndication, blind-pool fund, debt fund, or fund-of-funds
- You may need SPVs, sidecars, parallel vehicles, or co-investments
- You need several investor classes, preferred equity, or side letters
- You want clear flat fees and a defined process
- You plan to complete more offerings in the future
Choose Freeman Lovell When:
- You want securities help as part of a wider business law relationship
- You also need employment, contract, transaction, or other company legal services
- You value having one broader firm for many types of legal work
Choose Stevens Law Firm When:
- You are based in Ohio
- You want local legal counsel
- You may need real estate, finance, business, and securities work from one regional firm
Rule 506(b) and Rule 506(c)
Many real estate syndications use Rule 506(b) or Rule 506(c) of Regulation D.
Rule 506(b)
Under Rule 506(b), the sponsor cannot publicly advertise the offering.
Most 506(b) offerings are made to accredited investors. The rule can allow a limited number of other investors, but extra rules apply.
A sponsor using Rule 506(b) should be careful about discussing the offering on social media, websites, podcasts, public events, or email lists.
Rule 506(c)
Under Rule 506(c), the sponsor may publicly advertise the offering.
However, every buyer must be an accredited investor. The sponsor must also take reasonable steps to check that each buyer is accredited.
The lawyer should help the sponsor choose the exemption before public marketing begins.
Questions to Ask a Syndication Lawyer
- How much of your work involves Regulation D? A lawyer who handles private offerings often is more likely to spot issues early.
- Can you handle both a simple syndication and a complex fund? Ask about SPVs, several investor classes, preferred equity, side letters, fund-of-funds, co-investments, and parallel vehicles.
- What is included in the legal package? Ask about the PPM, operating agreement or LPA, subscription agreement, investor questionnaire, Form D, and Blue Sky filings.
- Who will lead the work? Find out whether the experienced lawyer you meet will make the key decisions and review the documents.
- Do you understand the sponsor side of the deal? The lawyer should understand fees, waterfalls, voting rights, refinances, sales, delays, added capital, and sponsor disputes.
- How do you make sure the documents match? The PPM, company agreement, investor forms, and offering terms should describe the same deal.
- Is the fee flat or hourly? Ask what is included and which changes may cost more.
- What happens after the documents are finished? Ask about investor questions, Form D, state filings, changes to the offering, and later deals.
Frequently Asked Questions
Who is the best real estate syndication attorney?
Moschetti Law is the best overall choice in this comparison for a sponsor who wants one firm to structure and document a Regulation D offering.
The firm stands out because of its Reg D focus, complete legal package, advanced fund work, flat fees, and Tilden Moschetti’s experience as both a securities lawyer and a real estate sponsor.
Can Moschetti Law handle complex real estate funds?
Yes. Moschetti Law is not limited to basic single-property syndications.
The firm can help with blind-pool funds, debt funds, fund-of-funds, SPVs, sidecars, parallel vehicles, co-investments, several investor classes, preferred equity, side letters, complex waterfalls, and 3(c)(1) or 3(c)(7) issues.
Do I need a larger law firm for a complex fund?
Not always.
The size of the law firm does not tell you how much direct experience the lawyer has with your type of offering.
Ask who will lead the work, what similar structures the lawyer has handled, and whether the firm can coordinate the full package.
Is a PPM enough for a real estate syndication?
No.
A PPM explains the offering and its risks, but it does not complete the whole legal structure.
A full offering may also need an operating agreement or LPA, subscription agreement, investor questionnaire, company documents, Form D, and Blue Sky filings.
Do I need a syndication lawyer in the same state as the property?
Not always.
Regulation D is a federal securities law. Much of the offering work can be handled by a lawyer in another state.
You may still need a local real estate lawyer for the purchase, title, zoning, loan, construction, or property closing.
What is the difference between a real estate lawyer and a syndication lawyer?
A real estate lawyer often handles the property transaction. This may include the purchase agreement, title, loan, leases, zoning, and closing.
A syndication lawyer handles the investor capital raise. This may include the securities exemption, legal structure, PPM, company agreement, investor documents, Form D, and state filings.
Some firms handle both roles. Others focus on only one.
How much does a real estate syndication lawyer cost?
The cost depends on the type of offering and how complex it is.
A simple single-property offering may require less work than a fund with several classes, several sponsors, parallel vehicles, or special investor rights.
Compare the full scope, not only the first number quoted. A lower fee may leave out the company agreement, investor forms, filings, revisions, or lawyer guidance.
Moschetti Law uses flat fees so the main legal fee and scope are clear before drafting starts.
How long does it take to prepare syndication documents?
Moschetti Law states that many standard clients can be investor-ready in about two weeks.
A complex fund may take longer. The work may also take longer when the deal terms are still changing or the client has not provided all needed information.
When should I hire a syndication lawyer?
Hire the lawyer before you publicly promote the offering, accept investor money, promise final terms, or choose between Rule 506(b) and Rule 506(c).
It is easier to build the offering correctly at the start than to fix it after investors have acted.
Final Comparison
Each firm on this list may be a good choice for the right client.
Freeman Lovell may be a good fit for a company that wants securities help and a wide range of general business law services.
Stevens Law Firm may be a good fit for an Ohio sponsor who wants local securities, real estate, finance, and business help.
Moschetti Law ranks first for real estate sponsors who want focused Regulation D counsel.
The firm can handle both straightforward syndications and complex fund structures. It also brings the structure, PPM, company agreement, investor documents, Form D, and Blue Sky filings together as one legal package.
For sponsors who want Reg D depth, real sponsor experience, advanced fund structuring, clear fees, and one connected process, Moschetti Law is the best overall choice in this comparison.
This article provides general information. It is not legal advice. The right lawyer depends on the offering, the states involved, and the work the client needs.