Overview

Mike focuses his practice in the areas of real estate finance and real estate development.  Mike represents owners and lenders in multi-family, senior housing, commercial, industrial and retail transactions.  A significant portion of Mike’s practice involves debt financing for affordable housing projects that are also financed with low income housing tax credits, tax exempt bonds, and various other funding sources including HOME funds, AHP funds and various state subsidy and loan programs.  Mike has substantial experience with all FHA-insured and Rural Housing Service guaranteed multifamily programs, as well as multifamily loans purchased by Fannie Mae.  Mike also regularly represents banks in connection with short term “bridge” loans that lenders and borrowers intend to be refinanced with long-term permanent loans to ensure that projects comply with programmatic requirements of the applicable permanent financing sources.

Experience

In 2017, Mike represented lenders in connection with transactions with an aggregate monetary value of approximately $600 million, including the following transactions:

FHA-Insured Construction Financing

• Approximately $4 million financing for the substantial rehabilitation of a 194 unit public housing project converted to project based rental assistance under HUD’s Rental Assistance Demonstration program pursuant to Section 221(d)(4) of the National Housing Act and approximately $1.5 million tax credit equity bridge loans, also financed with the proceeds of 4% low income housing tax credits and short term cash collateralized tax exempt bonds.
• Approximately $22 million financing for the construction of a 192 unit apartment project pursuant to Section 221(d)(4) of the National Housing Act, also financed with the proceeds of 4% low income housing tax credits and long term tax exempt bonds.
• Approximately $35 million financing for the construction of a 228 unit apartment project pursuant to Section 221(d)(4) of the National Housing Act.

FHA-Insured Permanent Financing

• Approximately $12 million financing for the rehabilitation of a200 unit apartment project pursuant to Section 223(f) of the National Housing Act, also financed with the proceeds of 4% low income housing tax credits and short term cash collateralized tax exempt bonds.
• Approximately $72 million financing of a 740 unit apartment project pursuant to Section 223(f) of the National Housing Act.
• Approximately $115 million portfolio refinance pursuant to Section 223(f) of the National Housing Act of 17 apartment projects located in 5 states also financed with long term tax exempt bonds.

Bank Financing

• Approximately $10 million financing for the construction of a 90 bed skilled nursing facility.
• Approximately $12 million tax exempt bond purchase for the construction of a 128 unit apartment project, also financed with the proceeds of 4% low income housing tax credits and tax increment financing.
• Approximately $32 million short term “bridge” financing of a 144 unit apartment project intended to be refinanced with a FHA-insured Section 223(f) loan.

Professional Activities

• American and Indiana State Bar Associations
• Mortgage Bankers Association
• Midwest Lenders Association
• Eastern Lenders Association
• Indiana Affordable Housing Council
• Affordable Housing Association of Indiana
• Indiana Apartment Association
• Urban Land Institute

Awards & Honors

• Indiana Rising Star 2014-2018