Ray Thomas Khirallah

Ray Khirallah
Real Estate


Ray Khirallah is a Texas real estate attorney who focuses on real estate development, real estate acquisitions, real estate sales, shopping center leasing, office leasing and real estate finance. He represents landowners, retailers, public companies, investors, operators, developers and advisors in the acquisition, development, ownership and dispositions of wholesale, retail, multifamily, hotel, office and industrial properties.

In addition, Mr. Khirallah represents borrowers, debtors, life insurance companies, banks and mortgage companies in construction, interim and permanent financings, as well as workouts and restructurings.

Representative Experience

  • Represents a publicly held membership warehouse company in the acquisition and development of wholesale/retail sites in Texas and the Southwest in integrated shopping centers and stand-alone sites, including the drafting and negotiation of purchase agreements and ground leases, site development agreements, reciprocal easement agreements, permitting activity with the various municipalities and all aspects of construction activities, and coordination with its architects, engineers and consultants on all aspects of development
  • Represents landowners in the Dallas and Houston areas in shopping center developments, pad sales and development and retail leases from the landlord's perspective
  • Represents retail tenants in the acquisition of pad sites, build-to-suits and retail leases from the tenant's perspective
  • Represented a foreign investor in a portfolio financing of multi-state properties consisting of shopping centers and apartment projects
  • Represented a public company in its office leasing and real estate development activities throughout the United States, including the preparation and negotiation of office leases, build-to-suit leases, development agreements and related documentation
  • Represented a local university in its real estate activities, including the sale and development of excess land and the development of use restrictions on excess land to encourage development of the area consistent with university policies; also represented the university on various other matters, including the formulation of its proposal and bid for a presidential library, bond financing for capital expenditures on the local campus and its Rome campus, lease negotiations for its graduate campus operations in office and retail complexes, and advice on inheritances of real estate and other types of assets

  • Represents national bank in real estate secured construction loans on projects throughout the U.S.
  • Represented foreign investors in the acquisition of real estate properties throughout the U.S., including shopping centers, office buildings and apartment projects, and assists in the management and disposition of such assets
  • Represented a bank in a multimillion-dollar financing of land and mixed-use development in Frisco, Texas
  • Represented a bank in a multimillion-dollar redevelopment loan in the central business district in Oklahoma City
  • Represents a New York-chartered state bank on permanent and interim real estate financings in Texas


  • Southern Methodist University Dedman School of Law, J.D.
  • University of Dallas, MBA
  • University of Dallas, B.A.
Bar Admissions/Licenses
  • Texas
  • American Bar Association, Real Estate Section
  • State Bar of Texas, Real Estate Section
  • Dallas Bar Association
  • Dallas Bar Foundation, Fellow
  • Nexus Recovery Center, Board of Directors
  • International Council of Shopping Centers
  • The Real Estate Council
Honors & Awards
  • The Best Lawyers in America guide, Real Estate Law, 2007-2021, 2023, 2024
  • Texas Super Lawyers magazine, Real Estate, 2012-2020
  • D Magazine, Best Lawyers in Dallas, 2007-2009
  • D Magazine, Best Business Lawyers in Dallas, Commercial Real Estate, 2009
  • Distinguished Alumni Award, University of Dallas, 2019
  • Gupta College of Business Hall of Fame, 2022