Under the CARES Act, borrowers with an HUD, Fannie Mae or Freddie Mac mortgage loan on a property with five or more residential units may be eligible for mortgage payment forbearance for a period of up to 90 days if they are experiencing financial hardship caused by the COVID-19 emergency.
Our Debt Finance group has the experience and expertise to help lenders and borrowers achieve their business goals in a wide variety of financing transactions. We partner with our clients to structure, negotiate and document complex debt finance transactions across a range of industries and capital structures.
What We Do
Our Debt Finance attorneys represent lenders and borrowers in a wide range of complex financing transactions locally and nationally. We are pragmatic deal-makers and take pride in finding workable and efficient solutions to our clients’ business needs. We have significant experience structuring, negotiating, documenting and closing financing transactions including:
- Secured and unsecured revolving credit and term loans
- All types of commercial real estate loans, including loans in connection with acquisition, development and construction projects
- Projects and infrastructure financings
- Syndicated, club and participated loan transactions
- Revenue-based financings
- Venture financings
- Structured financings
- Loan portfolio sales and acquisition
- Acquisition financings, including significant experience working with private equity sponsors and their portfolio companies
- Mezzanine, second lien and split-collateral financings
- Workouts and restructurings
- Financings through HUD, Fannie Mae and Freddie Mac programs
- Complex Uniform Commercial Code transactions
- Agency (e.g., HUD, Fannie Mae, Freddie Mac) financings
We count among our valued clients national and regional banks, non-bank lenders, mezzanine lenders, real estate developers and investors, energy developers, corporate and commercial borrowers, private equity sponsors and their portfolio companies, REITs, start-up companies, underwriters, insurance companies and tax-exempt organizations.
As one of the largest law firms in the upper Midwest, our Debt Finance attorneys have support from subject-matter experts, including ERISA, tax, bankruptcy, intellectual property, real estate, and environmental experts, to confidently and efficiently identify and overcome any challenges in these areas.
Corporate, Commercial and Revenue-Based Loan Transactions
- Represented national construction services company in connection with an $850 million revolving credit facility.
- Represented large agricultural cooperative in over $800 million of secured loan and private placement transactions.
- Represented an iron ore mining and processing company in connection with its various project financings, including a $325 million senior secured notes private offering to institutional investors, a $50 million senior secured revolving credit facility with institutional lenders, a $24.7 million tax increment financing, a $100 million tack-on notes offering to private investors and an increase in the revolving facility to $65 million.
- Represented administrative agent in connection with a $325 million syndicated credit facility for a borrower in the financial services industry.
- Represented a technology company in connection with $60 million split collateral credit facility.
- Represented corporate borrower in connection with the negotiation and origination of a $75 million loan for the renovation of its corporate headquarters.
- Represented lender on more than 100 private revenue-based financing transactions ranging from $400,000 to $5 million in principal amount.
Real Estate Finance Transactions
- Represent local and national lenders in connection with the origination of commercial real estate loans on a nationwide basis.
- Represented a regional bank in connection with a $58 million real estate term loan, including with respect to the participation of the loan.
- Represented a real estate developer in connection with the acquisition and conversion of a historic bank building in downtown Minneapolis into an upscale hotel project, including interim construction financing, tax credit financing and permanent financing.
- Represented national lender in connection with the origination of a $78 million leasehold mortgage loan in Illinois.
- Represented national lender in connection with the origination of a $34 million mortgage loan in Missouri.
- Represented national lender in connection with the origination of a $44 million leasehold mortgage in Florida.
- Represented local lender in connection with the origination of a $6 million land development loan.
- Regularly serve as local counsel on behalf of foreign domiciled lenders in connection with the origination of mortgage loans.
- Represented apartment developer in connection with the negotiation and origination of a $23 million loan used to refinance an existing apartment project.
- Represented developer in connection with the negotiation and origination of multiple loans used to repurpose former retail department store into a mixed use retail, office and recreational use building, including the construction of the Minnesota Wild practice facility and ice rink.
- Represented apartment developer in connection with the negotiation and origination of a $109 million loan for purposes of constructing a ground up mixed use apartment complex.
- Represented religious institution in connection with the negotiation and origination of a $12 million loan used to construct additional improvements on the church’s campus.
- Represented joint venture between general contractor and developer in connection with development and substantial rehabilitation of multifamily project in Richfield, MN, which was financed in part through a Section 221(d)(4) HUD program construction loan.
- Represented real estate investor in connection with portfolio of five HUD-insured multifamily mortgage refinance transactions.
- Represented portfolio of real estate companies in connection with several multifamily asset transfers subject to Fannie Mae and Freddie Mac loans.
- Represented real estate investors in connection with defeasance of multiple Freddie Mac multifamily housing loans.
- Represented REIT in connection with HUD approved transfer of physical asset transactions.
- Frequently act as local borrower counsel in connection with mortgage finance transactions.
Public Finance Transactions
- Represented a healthcare facility in connection with an approximately $47 million revenue bond financing to finance the construction of a significant expansion of a hospital and clinic in Minnesota.
- Represented an underwriter in connection with a tax exempt bond issue to finance the acquisition and development of a new facility for a federally qualified health center in Pennsylvania.
- Represented an underwriter in connection with placement of certificates of participation of a lease-purchase agreement to finance construction of a natural gas-fired steam heat facility and related improvements for a university in North Dakota.
- Acted as bond counsel in connection with local student housing redevelopment project.
- Represented local hospitals and schools in connection with several refunding bond issue and related matters.
- Acted as underwriter’s counsel in connection with the issuance of $38.66 million of tax exempt bonds and $12.19 million of taxable bonds by the Philadelphia Authority for Industrial Development.
Energy and Project Financings
- Represented a leading national independent power producer in connection with a multi-project credit facility for the development of wind and solar projects throughout the United States.
- Represented national solar energy developer in connection with project construction and permanent debt financing.
- Represented local wind and solar developer in connection with $100M portfolio development debt and letter of credit.
Private Equity and Mezzanine Financing Transactions
- Represent private equity sponsors and portfolio companies in connection with numerous acquisition financings.
- Represented mezzanine lender in connection with $12 million secured mezzanine loan and equity co-investment.
Capital Markets Transactions
- Represented private equity fund in connection with the acquisition of a $91 million portfolio of commercial real estate mortgage loans and mezzanine loans.
- Represented lender in connection with the acquisition of a $35 million loan portfolio comprised on commercial mezzanine loans.
- Represented institutional investor in connection with the disposition of an $84 million loan portfolio to multiple buyers.
- Represent lenders, private equity funds and other investors in commercial real estate loans in connection with the acquisition and disposition of commercial real estate loan assets on a nationwide basis.
Workouts and Restructurings
- Represented borrower in connection with $450 million debtor in possession credit facility.
- Represented borrower in connection with litigation of cash collateral use in Chapter 11 proceeding.
- Represented agricultural borrower in connection with workout of approximately $30 million of debt.
- Restructured commercial real estate debt through contested plan of reorganization.