Overview

Mike focuses his practice in the areas of real estate finance and real estate development.  Mike represents owners and lenders in multi-family, healthcare, 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. Mike also regularly represents lenders in connection with short term “bridge” loans for multi-family housing and healthcare facilities that lenders and borrowers intend to be refinanced with long-term permanent loans, including loans insured by HUD and loans to sold to Fannie Mae and Freddie Mac, to ensure that projects comply with programmatic requirements of the applicable permanent  financing sources.

Experience

In 2018, Mike represented lenders in connection with transactions with an aggregate monetary value of approximately $700 million, including the following transactions:

FHA-Insured Construction Financing

• Approximately $3 million financing for the substantial rehabilitation of a 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 $4 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 $60 million financing for the construction of an 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.

FHA-Insured Permanent Financing

• Approximately $7 million financing for the rehabilitation of an 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 $27 million financing of an apartment project pursuant to Section 223(f) of the National Housing Act.
• Approximately $4 million financing of an assisted living facility pursuant to Section 232/223(f) of the National Housing Act.

Conventional Financing

• Approximately$15 million financing for the construction of a workforce housing project and an approximately $15 million unfunded forward takeout commitment from Freddie Mac.
• Approximately $10 million financing for the rehabilitation of an apartment project, also financed with the proceeds of 9% low income housing tax credits and an approximately $4.5 million unfunded forward takeout commitment from Fannie Mae.
• Approximately $21 million tax exempt bond purchase for the construction of an apartment project, also financed with the proceeds of $5 low income housing tax credits and tax increment financing.
• Approximately $29 million short term”bridge” financing of an apartment project intended to be refinanced with a FHA-insured Section 223(f) loan.
• Approximately $21 million short term “bridge” financing of a skilled nursing facility intended to be refinanced with a FHA-insured Section 232/223(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

• Included in “The Best Lawyers in America” ® 2021, Real Estate Law
• Indiana Rising Star 2014-2018