Real Estate Finance

The variety and consequences of the decisions that borrowers and lenders face in structuring and completing real estate financings demand experienced and thoughtful counsel, and Ulmer & Berne’s real estate financing team is uniquely qualified to provide such counsel. Comprised of members of the firm’s real estate and corporate groups and supported by our commercial, environmental, regulatory and tax lawyers, our real estate financing team brings an intensely practical approach to designing and completing transactions that match the needs of the parties involved.

Contemporary real estate financing encompasses far more than the traditional construction and permanent loan model of project funding. The increasing difficulty of the development process, the availability of novel financing products and the value inherent in real estate make for a confusing but potentially rewarding marketplace of ideas. While we’re experienced and efficient at traditional real estate financings, we regularly participate – on behalf of commercial and institutional lenders, equity participants and other capital providers, as well as on behalf of capital users – in the development of nontraditional arrangements to finance the acquisition, construction, ownership and operation of all kinds of real property and real property interests.

We have helped our lending clients develop and implement transaction structures and techniques that are responsive to their needs and to those of their customers and markets. We take pride in identifying and designing transactions to meet the special needs of particular kinds of participants in the real estate industries (including public/private partnerships, real estate investment trusts, the developers of long-term multi-phased projects, nonprofit or public developers and corporations eager to monetize the value of their real property holdings).

We listen carefully to our clients, and work hard to recognize and anticipate their needs. We also pay attention to emerging issues in real estate development and finance and have been able to contribute to some of those emerging developments. Our lawyers have structured and closed a variety of innovative transactions, including equity and debt-secured mezzanine financings, pooled collateral transactions, sale/leasebacks and securitized financings, participating loans, off balance-sheet financings, taxable and nontaxable bond financings and a variety of agented and syndicated transactions. We understand that our work is not completed once a closing takes place.

July 8, 2021 – Ulmer & Berne LLP is pleased to share that Partner Jodi Rich has been appointed to the Board of Trustees of Park Synagogue, a 152-year-old Jewish congregation based in Pepper Pike, Ohio. In her role on the Board, Rich will use her experience as an active and lifelong third-generation...

From Ulmer’s Real Estate Advisor Law Blog By Bradley D. Kaplan As of Monday, March 23, 2020, Illinois, Ohio, and Kentucky have issued executive orders for the purpose of limiting person-to-person contact to avoid the transmission of the COVID-19 virus. This article summarizes how each of these three states are defining...

From Ulmer’s Real Estate Advisor Law Blog By Kristin W. Boose On March 20, 2020, the CRE Finance Council hosted a great conference call entitled, “The Impact of COVID-19 on the Commercial and Multifamily Real Estate Property & Finance Markets.” Like many of us in the commercial real estate world,...

February 3, 2020 – Ulmer & Berne LLP is pleased to share that Lori Pittman Haas, Partner and Group Leader of the firm’s Real Estate Practice Group, has been named to the Midwest Real Estate News Hall of Fame, which recognizes leaders in the commercial real estate industry who have helped...

Ulmer & Berne LLP is pleased to announce the election of three partners to the firm, effective January 1, 2020. This class of new partners includes attorneys with backgrounds in diverse legal disciplines and who reflect Ulmer’s commitment to providing sophisticated advice and counsel. “We are happy to welcome Kristin,...

Ulmer & Berne LLP is pleased to announce that Mary Forbes Lovett, Partner and Chair of Ulmer’s Real Estate Practice Group, has been elected to the firm’s Management Committee. Lovett is one of two women serving on this seven-member committee, which is responsible for guiding the operations and strategic direction of...

Representative Experience

  • Representing the lender in connection with the modification of a $14 million loan facility for a Cleveland law firm.
  • Representing the lender in connection with the modification of a $25 million revolving line of credit.
  • Representing lender in connection with first mortgage loan involving six lenders for a $44 million deal in University Circle.
  • Represent Fannie Mae lender with respect to financing of multifamily projects throughout the Midwest.
  • Represented the lender in its $24 million construction loan to finance the construction of a 46-unit condominium project in Washington, D.C.
  • Represented the lender in financing the acquisition and conversion to condominiums of three apartment complexes involving over 635 housing units and $45 million in loans.
  • Represented the lender in connection with a $35 million loan for the construction of two office buildings and two parking garages in Hamilton County, Ohio.
  • Represented the lender in a $24.5 million hotel loan in Dublin, Ohio.
  • Represented the lender in connection with its $22.5 million participation in a $47 million loan by another lender for the refinancing of a number of office buildings in Norwood, Ohio.
  • Represented the lender in a $20 million loan to facilitate the construction of a student housing facility near the University of Cincinnati.
  • Represented the borrower in the closing of a $5.6 million Fannie Mae mortgage loan secured by a 218-unit apartment complex in Flint, Michigan.
  • Handled the $21million refinancing of an apartment project with HUD under Section 223(a)(7).
  • Represented a national bank in a $16.3 million loan to facilitate the refinancing of various office, warehouse and retail properties.
  • Represented the owner of an urban entertainment center in Newport, Kentucky in the conversion of a $46.2 million construction loan into a $46.2 million bond issued by the city of Newport.
  • Represented the developer in a $15.5 million loan for a 238-unit apartment complex in Louisville, Kentucky.
  • Represented the lender in connection with its $10 million participation in a $63 million refinancing facility to a corporation and its subsidiaries.
  • Represented the lender in connection with the modification of multiple loan facilities in the aggregate amount of over $105 million.
  • Represented HUD lender in connection with multiple multifamily projects throughout the region.