Multifamily and Commercial Real Estate Finance

Moss & Barnett advises financial institutions throughout the United States on commercial real estate lending investments. We negotiate and structure deals, prepare loan documents, examine title and survey and other real estate due diligence, and close loan transactions.

Portfolio Loans and Secondary Markets. Many of our clients retain loans in their investment portfolios. Others sell loans on the secondary mortgage market to agency investors, some of which are assigned to real estate mortgage investment conduit (REMIC) or other securitization trusts. We have the relationships, knowledge, and experience with secondary market investors and programs which are necessary to sell, securitize, and service such loans.

Multifamily Housing. We represent lenders nationwide on every type of multifamily housing project, including market rate housing, targeted affordable housing, senior housing, student housing, and manufactured housing. These projects are financed with portfolio loans, securitized loans, credit facilities, tax-exempt bonds, and other affordable housing assistance programs.

We advise on a full range of non-standard transaction structures, including tenancies-in-common, forward and reverse 1031 exchanges, ground leases, land trusts, preferred equity, cross-collateralization, partial and fractured condominiums, phased projects, investment funds and joint ventures.

  • Affordable housing. We close transactions with Section 8 Housing Assistance Payment (HAP) contracts, tax abatements, tax exempt bond credit enhancements, tax exempt bond securitizations (TEBS), low income housing tax credits (LIHTC), and regulatory and land use restriction agreements.
  • Senior housing. We advise on deals including independent living properties, assisted living properties, and properties with skilled nursing and memory care facilities.

Commercial Real Estate. We represent lenders on a national basis on all types of commercial real estate. Project types include office, industrial, hospitality, retail, medical office buildings, medical facilities, golf courses, marinas, and commercial condominiums. These transactions involve multiple property portfolio loans, multiple jurisdiction loans, and leasehold financing.

Loan Servicing. Our lawyers represent portfolio loan servicers as well as sub-servicers of securitized loans. We advise on a full range of servicing events, including loan assumptions, transfers of ownership, easements, leases, condemnations, partial releases, and loan modifications. We have sophisticated knowledge of loan servicing regimes and deep experience identifying REMIC compliance issues which enables us to advise on the servicing of securitized loans.

Successor Borrower. Defeasance is a process by which a borrower can be released from current loan obligations to sell or refinance a property. The mortgaged property is released as collateral for the loan in exchange for a portfolio of government or agency securities. The loan remains outstanding, but with a “successor borrower.” Our lawyers serve as counsel on successor borrower transactions, providing the legal opinions required for securitization.

Workouts and Foreclosures. When loans do not perform, we represent the lender or servicer on forbearance and other workout arrangements. In certain jurisdictions, we represent lenders on mortgage foreclosure matters.