Sally Davis practices in Ropes & Gray’s real estate investments & transactions group. She routinely represents private equity funds, institutional investors, hedge funds, asset managers and other financial institutions in a wide variety of transactional real estate matters, including the negotiation of complex joint ventures for real estate investments and related acquisitions, dispositions, financings, recapitalizations and preferred equity structures. Sally is known for developing innovative solutions for achieving client business goals, such as expanding into new asset types, creating hybrid deal structures, or exploring new approaches to governance. She advises clients and leads complicated transactions across all real estate asset classes, including multifamily, industrial, office, data center, life sciences and more. Clients commend her strong “level of service, level of sophistication and commercial vision,” calling her an “exceptional” attorney, according to Chambers.

Sally is committed to improving outcomes for those around her, whether at the firm or in her community. She serves on the boards of directors of two nonprofit arts organizations, A BroaderWay Foundation and Arts Gowanus, and has provided pro bono representation for several nonprofit organizations in connection with their owned and leased real estate assets. At Ropes & Gray, Sally serves as the chair of the real estate group’s training committee and is also involved in firmwide recruiting and Women’s Forum initiatives. She is also an active member of the firm’s infrastructure industry group and was recently appointed partner lead on the social infrastructure sub-sector group.

Sally is a Best Lawyers: Ones to Watch honoree for 2022-24.


  • Representation of a capital partner in a joint venture with respect to the venture's acquisition of an office building in New York City (to be re-developed into a mixed-use retail and residential condo project, consisting of approximately 220 residential units and approximately 40,000 net sellable square feet of retail space) for a purchase price of $88 million, as well as the related negotiation of acquisition and construction financing for $180 million.
  • Representation of an institutional investor in the $330 million acquisition of a 423,000-square foot office building in New York City, including negotiation of bridge financing for $220 million.
  • Representation of the investment manager for a large university endowment in connection with the negotiation and structuring of a complex joint venture and recapitalization of large multi-family portfolio in Long Island, New York with total commitment of $275 million.
  • Representation of a large investment fund in connection with multiple joint venture platforms to acquire, develop and lease data center sites located throughout the United States and Europe with an anticipated aggregate commitment of up to $750 million.
  • Representation of a large alternative investment management company in connection with a $400 million joint venture and recapitalization of a portfolio of 51 industrial properties located in Oklahoma, Texas and Colorado, as well as the $272 million term loan obtained to partially finance the acquisition.  
  • Ongoing representation of a global investment and advisory firm in connection with the negotiation, structuring and formation of real estate joint ventures, funds and other “hybrid” type investments, involving transactions with multiple operating partners focused on both equity and debt-related assets located in and around the United States.
  • Ongoing representation of a global investment management company in connection with several joint venture investments on behalf of multiple investors and with multiple operating partners, focused primarily on single-family housing portfolios located in and around the United States.
  • Ongoing representation of an early stage real estate operating partner and developer managing multiple classes of assets throughout the United States.
  • Ongoing representation of The Boston Ballet, Inc. pro bono, in connection with various real estate related matters, including the leasing of a school and studio facility in Needham, Massachusetts.

Areas of Practice