Handling Financing for Transactions of All Sizes
The attorneys in Saul Ewing's Real Estate Finance Practice Group offer extensive experience in handling financing for real estate transactions throughout the Mid-Atlantic region, representing both borrowers and lenders. Our experience ranges from single property financings, where our primary goals include quality representation, efficiency and cost-effectiveness, to complex multi-property, multi-jurisdiction securitized deals where organization and an understanding of both the financing structure and market are key.
Examples of some of our recent financing projects include:
- structuring and restructuring borrowing portfolios in connection with the assumption or take-down of securitized loans. For example, we recently restructured a loan for three multi-family projects, which required a merger of the three projects, restructuring the note, and purchasing the note under a new entity we created;
- representation of a company purchasing 40 retail sites in four states with financing provided on a securitized basis;
- representation of a client who purchased ten shopping centers in seven states, assumed the securitized loans, in connection with which we structured the buyer as ten separate single-purpose entities with cross-lending ability to fund the loans.
- representation of a joint venture partner acquiring its partner's share in five area hotels, with financing provided by a national institutional lender. In that case, we structured the transfers in a manner which deferred over $1 million dollars in transfer tax for some extended period and educated the lender as to the validity of the proposed real estate and tax treatments.
The attorneys in Saul Ewing's Real Estate Finance Practice Group regularly advise clients regarding:
- Innovative, flexible, tax-efficient financing options
- Financing through equity, debt (senior, mezzanine, securitized, plain vanilla), REIT structures, partnerships and other structures
- Financings with institutional lenders and national and local banks
- Multifamily project financings through Fannie Mae DUS Product Line lenders
Clients: Both Borrowers and Lenders
Our lender clients include banks and insurance companies. On the borrower side, we represent borrowers in refinance, restructure and property acquisition transactions where financing is a component of the deal. Our clients include:
- Tenants (leasehold financings)
- Financial institutions
- Title insurance companies
- Real estate investment trusts
- Insurance companies
- Non-profit organizations
- Educational institutions
- Healthcare institutions
In addition, we frequently serve as local counsel in loan transactions in Delaware, Pennsylvania, New Jersey, Maryland and Virginia where we render opinions on both enforceability and corporate practice issues.
In Delaware, our attorneys also act as agents for a number of title companies, which provides us with additional and frequent insights into some of the latest financing practices and techniques.
Responsive and Cost-Efficient: Driving the Deal Through
Our attorneys' experience enables us to be highly responsive—a quality that can be key to completing a project on time and within budget. We work with our client to bring the project to completion, promptly addressing any issues that require attention. Prompt response is always important to our clients; recently, we closed a $40 million securitized loan on a shopping mall, including delivery of four opinion letters, in just seven days. We are sensitive to cost constraints and staff transactions in a manner designed to bring the best value to our clients.
Organizations and Institutions: Sharing Expertise
Our real estate attorneys are active in a variety of organizations, including:
- Bar Associations
- The American College of Real Estate Lawyers
- County Planning Commissions
- Homebuilders Associations
- Chambers of Commerce
- Community zoning boards
- Township supervisory bodies
In addition, our real estate attorneys share their experience with the industry by lecturing and teaching. Our real estate attorneys have conducted seminars for the Pennsylvania Bar Institute, the Philadelphia Bar Association, the Maryland Institute for Continuing Professional Education of Lawyers, and commercial legal education providers. One of our attorneys routinely lectures for the National Business Institute on sophisticated real estate transactions. One is a member of the faculty of the Alan L. Berman Real Estate Institute and the Johns Hopkins University’s Master of Science and Certification in Real Estate programs. One of our partners has been an adjunct professor at Temple University School of Law for over 20 years, teaching Real Estate Development Finance.
In any real estate transaction our clients undertake, Saul Ewing's Real Estate Finance Practice Group attorneys are ready and able to provide advice and counsel regarding financing, at any stage.