Tim's practice focuses primarily on sophisticated commercial real estate transactions, with an emphasis in the areas of commercial real estate finance and development, including representing lenders and borrowers in connection with multi-family housing and senior living facilities.
Tim’s practice includes:
- Counsel for state and national commercial lenders and financial institutions in connection with construction loans, real estate mortgage loans, commercial loan workouts and restructuring transactions.
- Counsel for multifamily lenders and developers involving acquisition, construction, permanent financing and refinancing transactions with FHA, Fannie Mae, Ginnie Mae, and US Department of Agriculture/Rural Housing Service.
- Representation and counsel for lenders and developers involving the requirements and procedures of the Full Review and Modified Review Transfer of Physical Assets (TPA) processes of the U.S. Department of Housing and Urban Development (HUD).
- Affordable housing program (AHP) and IRC Section 42 low income housing tax credit (LIHTC) financing transactions.
- Representation of financial institutions, mortgage lenders and related trade associations with respect to federal and state banking laws and regulations, including the analysis of newly-enacted or proposed legislation.
Illustrative Multifamily Housing and Senior Living Facility Transactions
- Representation of mortgage lender in connection with the closing of a complex $31,000,000 FHA insured loan to refinance a mixed use project (multifamily and retail) with air rights component, utilizing a ground lease/sub-ground lease borrower structure, in South Bend, Indiana
- Representation of mortgage lender and work with local municipality in connection with a $17,000,000 FHA insured construction loan for a restricted mixed use multifamily development within a tax increment financing (TIF) district and urban renewal and redevelopment zone in Oklahoma City, Oklahoma
- Representation of a national developer group in connection with a $41,000,000 FHA insured loan to refinance the multifamily component of a mixed use development project in Dallas, Texas
- Representation of national developer group with the acquisition and financing of an assisted living facility in Cambridge, Ohio, involving short term bridge financing converting to FHA insured permanent financing, medicare and private pay receivables
- Representation of mortgage lender in connection with transfer of physical assets (TPA), including conveyance of ownership and replacement of facility operator, in connection with an FHA insured skilled nursing facility located near Chicago, Illinois
- Representation of a REIT with its acquisition and financing of a portfolio of senior living facilities and skilled nursing facilities, which includes both traditional and FHA insured financing
- Representation of mortgage lenders and borrowers/developers in connection with the full review and modified review Transfer of Physical Assets programs and processes of HUD, including pursuant to Sections 223(f) (multifamily housing) and 232 (senior housing) of the National Housing Act
- Participated as industry partner and a legal working group leader for Mortgage Bankers Association (MBA) in review and analysis of the revised multifamily project documents promulgated by HUD in 2011