Real Estate Finance Practice

Since its inception, Krooth & Altman LLP has focused its core practice on real estate finance as means of assuring the highest level of professional legal service.  The firm has played a major role in the develop­ment of financing programs that combine conventional financing techniques with FHA insurance and Ginnie Mae securities.  As early as 1978, the firm worked with a major northeast healthcare finance authority to develop a tax-exempt bond pro­gram collateralized by Ginnie Mae Mortgage Backed Securities with AAA bond ratings, which represented the first national use of Ginnie Mae collateralized reve­nue bonds for either multifamily housing or healthcare projects.  That undertaking remains the model for the current application of that program in virtually all areas of FHA finance. 

The firm is extensively involved in conventional and governmental assisted and insured commercial and mixed use real estate projects, health care and residential real estate finance, and related specialties in tax and securities law and civil litigation.  Its clients are nationally based and include institutional investors, mortgage and investment bankers, national banks, municipal bond insurers, developers and contractors, health care sponsors, public authorities, syndicators, trade associations, nonprofit corporations and housing condominiums and cooperatives.  During the 1990s, the firm represented an agency of the Federal Government in connection with the sale of a subsidized multifamily housing portfolio.  It counsels borrowers and lenders engaged in administrative and disciplinary proceedings before federal and local regulatory bodies.

The firm serves as counsel for all aspects of these activities, including the acquisition, sale, and development of real estate projects; the structuring and closing of related financial transactions; secondary market transactions involving Ginnie Mae, Fannie Mae, Freddie Mac and other private investors; private securitization and mortgage investment vehicles including mortgage conduit programs; issuance of tax-exempt revenue bonds; loan refinancings and restructurings; work-outs including related bankruptcy matters; and commercial business ventures.  

Krooth and Altman LLP repre­sents many "top ten" and pre-eminent nationally based Fannie Mae, Freddie Mac and FHA banking firms, and routinely advises clients with respect to related procedures and policies in the normal course of business as well as for "troubled" projects, including mortgage assignments and the development of workout programs with FHA, mortgagees, investors and bor­rowers for both taxable and tax exempt debt.