Description of our Areas of Practice

HUD-FHA Programs. Our extensive HUD practice includes representing owners and lenders in all types of HUD loan closings, and providing representation in connection with Transfers of Physical Assets (TPAs), HUD's Mark-to-Market (Mortgage Restructuring) OAHP Program involving the restructuring of Section 8 assisted properties, HUD's Section 236 "decoupling program", project based section 8 programs and transferring project based Section 8 contracts to a new site, and HUD's Section 202 prepayment and repositioning initiatives.  We represent owners of eligible low-income housing in connection with the recapitalization, refinance, or sale of projects pursuant to the Emergency Low-Income Housing Preservation Act of 1987 or the Low-Income Housing Preservation and Resident Homeownership Act of 1990. We have extensive experience in HUD administrative enforcement matters, including Form 2530 Previous Participation Clearance issues, adverse project physical inspections and management reviews, Abatement of Section 8 contracts, Lead-based paint compliance, HUD Inspector General Audits and Investigations and Real Estate Assessment Center matters. Up

Real Estate Transactions and Real Estate Finance. We represent developers and owners in connection with the sale, acquisition, development, and financing of all types of real estate properties, including commercial, residential and industrial developments, and with the purchase and sale of parcels of land, and have represented clients in all forms of commercial and residential leasing activity. We have also have represented both developers and financial institutions involved with the development and acquisition of health care facilities. We perform the requisite legal work for traditional construction, permanent, and acquisition mortgage loans, as well as more specialized real estate financing transactions, such as leasehold mortgage loans, mortgage warehouse facilities, conduit loans, securitized loans, and sale-leasebacks. Our attorneys have extensive experience representing both borrowers and lenders. Up

Bond and Tax Credit Transactions. We have extensive experience in connection with transactions involving multifamily housing revenue bonds, Low Income Housing Tax Credits and Historic Tax Credits, including transactions which also involve the use of both taxable and tax exempt financing, HOME funds, local or state housing funds, and/or which are subject to a subsidy-layering review by HUD or a state housing finance agency. We help structure the financing, close the acquisition, and issue the necessary opinions to the Issuer, Underwriter, Lender and Trustee. Up

Fannie Mae and  Freddie Mac. We are involved with the closing, refinancing, assumption and workout of loans originated under the Fannie Mae Delegated Underwriting and Servicing (DUS) and Prior Approval programs, both cash and MBS product lines, and are familiar with the range of Freddie Mac’s multifamily mortgage programs. Up

Formation and Operation of Business Entities. We assist clients in selecting and preparing the proper legal vehicle for real estate projects and investments, such as co-tenancies, joint ventures, general and limited partnerships, limited liability companies, corporations, and trusts, in order to provide the best opportunity for financial profitability, and to accommodate the particular needs of each particular client. We also counsel entities regarding operating issues once the entities are formed. Up

State and County Housing Programs. Our practice extends beyond the federal arena to encompass state and local housing programs. We have particular experience with the various housing finance agencies in California, and have represented clients in connections with transactions involving City and County Housing Agencies, Redevelopment Agencies, the California Housing Finance Agency, the California Tax Credit Allocation Committee, the California Debt Limitation Allocation Committee, and the California Department of Housing and Community Development. Up

Construction Matters. We are involved in the drafting and negotiating of construction and construction related contracts, monitoring the legal aspects of contract compliance, and assisting in the resolution of disputes as they arise. Up

Troubled Real Estate.  When required, we serve our clients' needs relating to troubled real estate of all types, including restructuring and renegotiating the financial terms of non-performing assets. Up

Nonprofit Housing Providers. We have assisted in the formation of nonprofit entities and represented nonprofits in their acquisition, management, and financing of projects, including transactions involving joint ventures with private entities and the HUD preservation programs. We have represented Nonprofits who desire to prepay their HUD insured loans in order to recapitalize and rehabilitate the property through Bonds and Tax Credits, most recently involving a LIHPRHA property with a 50 year Use Agreement. Up

HUD Litigation. We represents housing clients facing nearly every type of administrative proceeding such as HUD limited denials of participation (LDP), suspensions and debarments, management terminations, audits and investigations by HUD’s Office of Inspector General and actions brought by the Justice Department and/or United States Attorneys, and have represented owners in connection with actions against the United States under the LIHPRHA program for a breach of contract in not permitting the prepayment of their mortgage notes after 20 years. We also counsel clients on policies and compliance issues relating to claims under the Fair Housing Act, the Rehabilitation Act, the Americans with Disabilities Act, and state and local fair housing laws. Up

Representative Work: A transaction representative of the firm’s ability and experience in affordable finance development on a large scale involved our recently completed engagement in Los Angeles, California, whereby the firm acted as developer’s counsel in obtaining funding through a combination of a HUD-insured loan with FHA-insured and uninsured tax-exempt revenue bonds issued by the City of Los Angeles overlaid with a Ginnie Mae guarantee, limited partner equity investment, low income housing tax credits, subordinate debt financing provided by  private entities, and a property tax abatement. Up

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