Multifamily Finance and Affordable Housing

Experience

• Closed a $50 million loan under the Fannie Mae Delegated Underwriting and Servicing (DUS) product line. The loan required negotiating an intercreditor agreement with the mezzanine lender and is secured by a 409-unit multifamily property in Prince George’s County, Maryland.
• Represented the borrower in a $24 million loan under the Freddie Mac Optigo conventional product line. The loan was secured by a sprawling 192-unit student housing project located in Tennessee. The loan required a complex TIF agreement negotiation between the borrower, the city, and Freddie Mac, and analyzed the loan for preferred equity compliance.
• Represented the borrower in closing a four-deal loan portfolio with an aggregate amount of $127 million under the Fannie Mae DUS product line. Each loan included mezzanine debt and required negotiating intercreditor agreements with the mezzanine lender. The loans are collectively secured by four multifamily properties located in Prince George’s County, Maryland covering 921 units.
• Represented the borrower in closing a $40 million loan under the Freddie Mac Optigo conventional product line. The loan was secured by a sprawling 373-unit multifamily garden-style property in Dallas, Texas.
• Represented the borrower in closing an $8 million Freddie Mac conventional loan. The loan, which involved a complex tenant-in-common organizational structure, was a Florida amended and restated deal secured by an 80+ unit multifamily property in Duval County, Florida.

• Closed 18 loans in a two-month period totaling almost $600 million across HUD’s multifamily and health care programs. The projects were located in California, Colorado, Illinois, Louisiana, Nebraska, New York, Pennsylvania, Texas, Utah, and Washington.
• Represented a HUD lender on a $128 million financing, which transformed a historic abandoned central city market into a 1 million-square-foot project that spanned two city blocks and included 90 affordable senior living units and 550 market-rate units in Washington, D.C.
• Represented a HUD lender on two new construction projects financed under the HUD LIHTC pilot program, with 4% tax-exempt bonds, in Nashville, Tennessee.
• Represented a HUD lender on a $9 million rehabilitation of multifamily and mixed-use property, with financing that included 4% low-income tax credit tax-exempt bonds and funding from the low-income investment fund (LIIF), in Baltimore, Maryland.
• Represented a DUS lender on $14 million supplemental and acquisition loans for an affordable multifamily property, owned by tenants in common, which contained title issues and pending lawsuits requiring resolution before closing in Boston, Massachusetts.
• Represented a DUS lender on a $60 million refinance for a market rate multifamily property with controlled recognized environmental conditions and a complex borrower structure and which needed to be closed within 10 days from the application date, located in Chelsea, Massachusetts.
• Represented a DUS lender on the acquisition and assumption of a $27 million CEMA loan secured by a multifamily property located in Brooklyn, New York.
• Represented an Optigo lender on a $36 million SBL seven-deal portfolio for the refinance of multifamily apartments in Hudson County, New Jersey.
• Represented a DUS lender on an $8 million acquisition loan for a rent-restricted multifamily property in Navarro County, Texas, involving the negotiation of a foreign guarantor opinion with Indian counsel, the negotiation of a subordination agreement with the FDIC concerning a land use restriction agreement, and the documentation of a rehabilitation reserve.