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Commercial Real Estate Finance

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Miller Canfield’s banking and finance team brings a market-wise and creative perspective to our CRE lenders. We pair that with a deep understanding of lending, credit, capital markets and both regional and industry trends. We facilitate the thorough consideration of options and strategies necessary in the origination and transaction management of CRE loans and lender relationships.

We provide CRE lending guidance and representation grounded in our long experience with fundamental commercial real estate issues related to acquisition and disposition, land development and construction, leasing, zoning and planning, tax, title, property management, regulation and compliance, environmental, contracting, investment structuring, joint ventures, public-private partnerships and economic incentives. 

Wide-Ranging Client Base and Experience

Our lending clients include banks, investment banks, life companies and other institutional lenders as well as mortgage bankers, conduits, governmental agencies, REITs and other non-bank lenders.

Comprehensive Property Type Experience

Our experience ranges over the spectrum of property types, including office, retail, multifamily, hotel, resort, industrial, self-storage, warehouse, marina and mixed-use properties and manufactured housing communities. We have broad experience with sports complexes and arenas, parking structures, condominiums, residential development, single-family rental portfolios, ground leases and air rights.

Deep Drafting and Negotiation Expertise and Experience

We structure, negotiate and document transactions ranging from high volume lending programs through custom and complex fixed, floating and float-to-fixed rate portfolio and CMBS finance transactions. These include term, bridge and revolving facilities, land acquisition, development, construction and repositioning loans, senior, pari passu, mezzanine and subordinate debt, preferred equity, cash-managed and cross-collateralized facilities.

Extensive Credit Facility and Multi-State Structuring

We have extensive experience in connection with:

  • Multi-state transactions
  • Intercreditor and subordination arrangements
  • A/B notes
  • Participations
  • Syndications
  • Co-lending
  • Club financing
  • Preferred equity
  • Strategic alliances
  • Licensing issues
  • Servicing agreements
  • Table funding and conduit arrangements
  • Mortgage loan purchase agreements
  • Warehouse and repurchase agreements
  • Whole loan portfolio purchase and sale agreements
  • Assumptions and pooling
  • Servicing agreements

Syndicated, Co-Lender and Club Facilities

We have extensive expertise and experience in the representation of administrative agents in drafting, negotiating, processing and closing syndicated financings involving two-bank, and medium and large bank groups on a regional and national basis.

Non-Traditional and Non-Domestic Borrower Credit Support

We work closely with our clients, including private banking business lines, in connection with loans to, or guaranteed by, non-traditional and foreign parties. These parties include a range of trusts (as with intentionally defective grantor trusts and domestic and offshore asset protection trusts), family limited partnerships/limited liability companies, and other complex estate and asset planning configurations.

Tax-Advantaged and State Sponsored Facilities

We have long and significant experience with New Markets Tax Credit (NMTC), Low Income Housing Tax Credit (LITC), Historic Rehabilitation Tax Credit (HTC), state-sponsored Brownfield redevelopment programs and other tax-advantaged financing.

Interest Rate Risk Management

We routinely counsel banking clients on interest rate risk mitigation products, including forward-rate contracts, forward rate agreements, futures contracts, interest rate swaps, options, swaptions, embedded options, caps, floors and collars.

Partnering in the Design and Development of Lending Programs

Members of our team have been extensively involved in the collaborative design and development of both portfolio and CMBS lending programs and documentation, as well as systematic underwriting, diligence, processing and closing processes and technologies.

Efficient Team Structuring and Lean Processes - Reliable Results

Our collaborative lean processes, proprietary software and experienced paraprofessional staff enable us to cost-effectively and predictably manage and document a high volume of both production and unique, varied and complex transactions while permitting our attorneys to focus on collaborative transaction leadership and resolving key legal issues.