Construction Lending

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Dickinson Wright attorneys represent lenders and borrowers in all aspects of commercial mortgage transactions. Our clients include state and national banks, life insurance companies, institutional lenders (including governmental subdivisions and agencies), Real Estate Investment Trusts (REITs), investors, developers, and loan servicers. We handle all manner of lending, including lending transactions, conventional commercial mortgage loans, construction loans, sale leaseback transactions, ground lease transactions, capital markets or commercial mortgage backed securities (CMBS) loans, Fannie Mae and Freddie Mac multifamily and manufactured housing loans, as well as bond and asset recovery, workouts, restructurings, and foreclosures. Each of the above transactions presents unique issues that, from preparation and review of the term sheet to the loan closing and beyond, our team is particularly qualified to address and resolve.


Our attorneys have represented lenders and borrowers in connection with thousands of construction loans representing billions of dollars secured by diverse commercial properties including professional buildings, industrial warehouses, self-storage units, apartments, manufactured housing, retail shopping centers, and regional malls, hotel properties, nursing home/assisted living facilities, and wind and energy facilities, among other types of properties.

Members of the firm are active in a variety of finance-related organizations, such as the Mortgage Bankers Association (MBA), Commercial Real Estate Finance Council – formerly the Commercial Mortgage Securities Association (CMSA), Mortgage Industry Standards Maintenance Organization, the American College of Mortgage Attorneys (ACMA), and the Construction Lawyers Society of America (CLSA). Our attorneys frequently make presentations and publish articles related to our experience and depth of knowledge. We have developed unique proprietary transaction management and document automation software that allows us to deliver cost-effective, efficient services.

 

Representative Experience
 
Representation of a large financial institution to provide opinion on the validity and potential recovery by an industrial contractor on a $10,000,000 claim related to the construction and engineering of a paper mill.

Representation of a large, national lender on necessary provisions in commercial loan documents for construction projects, and providing revisions to loan documents to adequately protect the interests of the lender.

 

Representation of ground lessor in connection with the negotiation of an inter-creditor agreement so that construction of a combination office building/hotel project could be financed.

Representation of numerous developer and contractor clients in negotiating payment terms and procedures with lenders, including the payment application process, necessary documentation, and timing of construction draws.

 

Representation of a defaulting borrower in connection with the “work out” of a $60,000,000 construction loan.

 

Representation of mezzanine lender that provided “equity” for a hotel/condominium project to enable a construction loan from a third party lender.

 

Successfully addressed lien validation issues under the applicable recording statute as amicus curiae in a state supreme court.


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