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Michael K. Swearengen

Partner
Cleveland
T.
216.363.6139
liamE

Michael focuses his practice on real estate development, finance and investment throughout the United States.

Michael represents public and private companies in the development, purchase, sale, leasing and financing of shopping centers, office buildings, industrial properties, multi-family projects, hotels and parking facilities.  His transactions include ground-up development, redevelopment of existing properties, investment in stabilized income-producing properties, large portfolio transactions, ground leases and structuring mixed-use projects with complex air-rights parcels, easements and restrictions.

Michael’s experience includes negotiation of complex joint ventures, equity investments, debt financing and development agreements. He represents lenders and borrowers in construction, mezzanine and permanent financing, loan workouts and restructurings and the acquisition of distressed debt.  Michael also advises public and private companies on the structuring, development, purchase, sale and leasing of their corporate real estate, including build-to-suit leases, office and industrial leases, 1031 like-kind exchanges, and sale-leaseback transactions.

Representative Experience

  • Acquisition of an integrated mixed-use complex of a 57 story 1.3 million square foot trophy office building, 10 story historic office and bank building, 400-key Marriott hotel and 985 space subterranean parking garage for $267.5 Million (represented buyer).
  • Represented a NYSE REIT in the sale of a multi-state portfolio of 16 shopping centers for $400 Million.
  • Represented a developer in a joint venture and acquisition of a 525 space multi-story parking structure with ground floor retail space for the development and construction of a 19 story 230 unit apartment tower above the existing parking structure, with an initial project value of over $22 Million. Joint venture included negotiation of a development agreement, construction management agreement and property management/leasing agreements.
  • Represents a developer in the development and new construction of a 2.2 million square foot integrated mixed-use complex covering two city blocks, involving office, residential and retail uses and structured parking using subdivided air-rights parcels.
  • Represented a national bank as co-lender on a $63 Million senior construction loan (documented as three separate loans) to finance the redevelopment of a 29 story office tower into a mixed use project that included a 156 key hotel, 104 unit class A apartment tower, retail space and parking garage. The transaction involved historic tax credits, port authority bond financing and multiple tranches of subordinate debt.
  • Represented a national bank as co-lender on a $73 Million senior construction loan to finance the construction of a 20 story 280 unit luxury apartment building with retail space and a parking garage. The transaction involved port authority bond financing and multiple tranches of subordinate debt.
  • Represented a developer in purchasing a $18.2 Million loan in foreclosure secured by a mortgage on a shopping center development in Florida that was under construction.  The transaction included dealing with the borrower’s mezzanine lender, development agreements with an anchor retailer developing its own pad within the shopping center, entitlement, concurrency and permit issues, and millions of dollars in mechanic’s liens.  Also represented the developer/purchaser in financing the purchase of the distressed loan.
  • Acquisition of 15-story apartment/mixed-use property by deed-in-lieu of foreclosure of a $32 Million mortgage (represented the lender).
  • Build-to-suit lease for 145,000 square foot manufacturing plant for a private equity-owned aerospace company with a tenant capital contribution of $3.6 Million (represented the tenant).
  • Build-to-suit lease for the expansion of a manufacturing and warehouse facility on an absolute triple-net basis guaranteed by a Fortune 500 NYSE company (represented the landlord).

  • Construction
  • Architectural Agreements
  • Leasing
  • Purchase & Sale
  • Mortgage Financing
  • Construction Financing
  • Construction & Architectural Agreements
  • Sale & Leaseback
  • Financing/Commercial Construction
  • Real Estate
  • Loan Workouts
  • DIP Financing
  • Loan Maintenance & Modifications
  • Distressed Asset, Workout & Restructuring Strategy
  • Energy/Real Estate
  • Georgetown University Law Center, 1989, J.D.
    • cum laude
    • Editor, American Criminal Law Review 
  • University of Toledo, 1982, B.A.
    • cum laude
  • Ohio
  • Listed, The Best Lawyers in America®, Real Estate Law, 2008-2025
  • AV® Preeminent Rated, Martindale-Hubbell Peer Review
  • Listed, The International Who's Who of Real Estate Lawyers 2011
  • Listed, Ohio Super Lawyers 2004-2018, 2021-2024
  • Member, American Bar Association
  • Member, Cleveland State Bar Association 
  • Member, American College of Real Estate Lawyers
  • Member, International Council of Shopping Centers (ICSC)
  • Former Chair, Board of Trustees, Historic Gateway Neighborhood Development Corporation
  • Former Member, Board of Directors, Downtown Cleveland Alliance
  • Former Member, Board of Trustees, The Intergenerational School (public school charter)

Highlights

Martindale AV Rating

Martindale AV Rating

Martindale AV Rating

Articles and Presentations
August 16, 2023
My Benesch My Team - Columbia Pacific Advisors, LLC
November 2009
Federal Banking Regulators Issue Commercial Real Estate Guidelines
Spring 2006
Issues to Consider when Subleasing
News
August 15, 2024
132 Benesch Attorneys Recognized in 2025 Best Lawyers® Rankings
December 30, 2023
41 Benesch Attorneys Selected to 2024 Ohio Super Lawyers and Rising Stars Lists
August 17, 2023
Best Lawyers in America® Rankings 2024

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