Cowan, a frequent lecturer and author in the field of real estate and bankruptcy matters, joins the firm from the local office of O'Melveny & Myers, where he was the partner in charge of the real estate department. His real estate practice covers a broad range of commercial real estate and finance matters, with particular emphasis on real estate finance, workouts, bankruptcies and real estate fund formations.

Some of Cowan's larger transactions include: the sale of Embarcadero Center ($1.2 billion) in San Francisco; construction financing for a gaming casino in Macau ($140 million); the restructure of a mezzanine loan hotel portfolio ($350 million); the sale of Delta Towers, a $500-million office complex in Century City, CA, and; the financing of the Pebble Beach golf course ($250 million).

In addition to Cowan, Piper Rudnick added another real estate attorney in Caryl Welborn. Welborn comes to the firm from the boutique firm Morrison & Foerster, where she was a senior partner in the real estate department. Her practice has a particular emphasis on acquisitions, dispositions, debt financing and joint venture structuring. She also currently sits on the board of directors of AMB Property Corp., a publicly traded industrial REIT.