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Mortgage Financing

The Real Estate Practice Group has experience in representing lenders and borrowers in numerous transactions involving the financing of real property.

These transactions include complex financing arrangements involving multiple borrowers, lenders and properties, as well as transactions involving publicly assisted financing, conventional financing, tax credit financing and sale leasebacks.

Experience

  • Represented three co-borrowers on a $40 Million CMBS loan to refinance three apartment complexes.
  • Represented one of the nation’s largest multifamily housing developers in the debt refinancing and equity recapitalization of a 300+ unit multifamily apartment complex in northeast Ohio, which involved unwinding a complicated mix of leases related to a 1031 exchange structure and bonds related to the construction financing, a new $55+ million Freddie Mac loan, a membership interest sale agreement for a partial cash-out of select investors and a new joint venture structure including existing and new equity.
  • Represented one of the nation’s largest multifamily housing developers in the $100 million debt refinancing and equity recapitalization of a 300+ unit multifamily apartment complex in Pittsburgh, Pennsylvania, which involved amending and restating an existing ground lease structure, a new $60 million life insurance company loan, a partial cash-out of select investors and a new joint venture structure including existing and new equity.
  • Represented the owner in refinancing of an approximately 400-unit multifamily apartment complex in Memphis, Tennessee, with a $15+ million Fannie Mae loan.
  • Represented the owner in the refinancing of a 320-unit multifamily apartment complex in Indianapolis, Indiana, with a $16+ million Fannie Mae loan.
  • Represented the owner in the approximately $13 million financing of a shopping center in Evansville, Indiana.
  • Represented the owner in the refinancing of an almost 300-unit multifamily apartment complex in Memphis, Tennessee, with a $16+ million Fannie Mae loan.
  • Represented the owner in the approximately $21 million refinancing of an industrial portfolio consisting of properties located in Lenexa, Kansas; Branchburg, New Jersey; Sheffield Village, Ohio; and West Chester, Ohio.
  • Represented the owner in the refinancing of an almost 1,000-unit multifamily apartment complex near Philadelphia, Pennsylvania, with a $36 million Fannie Mae loan.
  • Represented the owner in the refinancing of an almost 1,000-unit multifamily apartment complex near Philadelphia, Pennsylvania, with a $36 million Fannie Mae loan.
  • Represented the owner in the refinancing of an almost 300-unit multifamily apartment complex in Memphis, Tennessee, with a $16+ million Fannie Mae loan.
  • Represented the owner in the approximately $21 million refinancing of an industrial portfolio consisting of properties located in Lenexa, Kansas; Branchburg, New Jersey; Sheffield Village, Ohio; and West Chester, Ohio.
  • Represented the owner in the refinancing of a 320-unit multifamily apartment complex in Indianapolis, Indiana, with a $16+ million Fannie Mae loan.
  • Represented the owner in refinancing of an approximately 400-unit multifamily apartment complex in Memphis, Tennessee, with a $15+ million Fannie Mae loan.
  • Represented the owner in the approximately $13 million financing of a shopping center in Evansville, Indiana.
  • Represented the borrower in a $21 million CMBS loan secured by a five-property commercial real estate portfolio located in Bonita Springs, Florida.
  • Represented the borrower in a $7.6 million life insurance company loan secured by a multitenant industrial building located in Menomonie, Wisconsin.
  • Represented the borrower in a $23+ million insurance company loan secured by an industrial building located in Brownsburg, Indiana.
  • Represented the borrower in a $13+ million life insurance company loan secured by a multitenant industrial building located in Gainesville, Georgia.
  • Represented a national bank in a loan modification with membership interest pledges for a loan secured by an industrial building located in Cleveland, Ohio.
  • Represented Canadian investors in the acquisition of a value-add multifamily apartment complex with ground floor retail located in Northeast Ohio and acquisition and renovation financing through a CMBS loan.
  • Represented the purchaser in the acquisition and financing of a shadow-anchored shopping center located near Grand Rapids, Michigan, including a “reverse” 1031 exchange.
  • Represented the borrower in a $4+ million life insurance company loan secured by an industrial complex located in Worthington, Ohio.
  • Represented the purchaser in the membership interest purchase of a limited liability company that owns a 150+ unit multifamily apartment complex located near Louisville, Kentucky, which acquisition also involved a HUD loan assumption and a joint venture.
  • Represented a borrower in the $36 million Fannie Mae refinancing of a 960-unit multifamily apartment and shopping center complex located in Philadelphia, Pennsylvania.
  • Represented the borrower in the modification of a $5 million loan secured by a multi-tenant retail shopping center located in Chattanooga, Tennessee.
  • Represented the owner in the $12 million refinancing of a ten-building multifamily apartment complex in Mishawaka, Indiana.
  • Represented the borrower in the $14 million refinancing of a multifamily apartment complex in Fort Wayne, Indiana.
  • Represented the purchaser in the purchase and financing of a 600,000+ SF single-tenant industrial facility in Ashland, Ohio.
  • Represented the borrower in the $11 million refinancing of a 300-unit multifamily apartment complex in Fort Wayne, Indiana.
  • Represented the borrower in the modification of a $5.6 million loan secured by a single-tenant industrial property located in Columbus, Ohio.
  • Represented the owner in the $11.5 million refinancing of a multi-tenant retail shopping center located in DeKalb, Illinois.
  • Represented the lender in the modification of a $6+ million permanent financing of a single-tenant office facility near Akron, Ohio.
  • Represented lender in $5+ million mortgage financing secured by an oil refinery in central Ohio.
  • Represented the purchaser in the acquisition of a 104,000+ SF shopping center west of Chicago, Illinois, with a purchase price of approximately $6.7 million, including a 1031 exchange, and the development of a new outparcel.
  • Represented the owner in the $22 million refinancing of a 40+ building multifamily apartment complex in Indianapolis, Indiana.
  • Represented the owner in the $4.5 million refinancing of a multi-tenant commercial retail shopping center.
  • Represented the owner in the $26 million refinancing of a 500,000+ SF multi-building multifamily apartment complex in Indianapolis, Indiana.
  • Represented the purchaser in the acquisition of a 150 unit multi-building apartment complex in Florida for a purchase price in excess of $7 million, including the assumption of existing HUD indebtedness on the property.
  • Represented the purchaser in the acquisition of a 76,000+ SF shopping center for a purchase price in excess of $4.8 million.
  • Represented the owner in the $13+ million refinancing of a 116,000 SF grocery-anchored shopping center in Tennessee.
  • Represented the owner in the $6.5+ million refinancing of a high-rise multifamily apartment tower.
  • Represented the owner in the $6.8+ million refinancing of a 120+ unit multi-building apartment complex.
  • Represented the owner in the $10+ million refinancing of a 98,000+ SF grocery-anchored retail shopping center in Massachusetts.
  • Represented the purchaser in the acquisition and Fannie Mae-backed financing of a 150+ unit multi-building apartment complex in Florida for a purchase price in excess of $9 million.
  • Represented the investor group in a $11+ million refinance of a shopping center near Milwaukee, Wisconsin.
  • Advised multiple borrowers in negotiating new loans and loan refinancings.
  • Served as local counsel to borrowers and lenders regarding Ohio loans.
  • Advised multiple borrowers in connection with loan restructurings, loan workouts and deed-in-lieu transactions.
  • Advised multiple lenders with respect to loan workouts, loan restructurings and foreclosures on numerous projects involving mortgages transactions (including leasehold mortgages) in excess of $60,000,000.
  • Advised and negotiated on behalf of a non-profit borrower on obtaining tax free bond financing for an assisted living project.
  • Represented a real estate developer in a $39 million loan to acquire a warehouse/industrial portfolio.
Key Contacts
  • Jeffrey J. Wild
    Real Estate
    Cleveland
  • Jared E. Oakes
    Real Estate
    Cleveland

View full team

Articles and Presentations
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