Structured Financing

The firm has extensive experience in structuring secured debt transactions in housing and health care facility financing. The firm advises clients in governmentally-assisted and governmentally-enhanced transactions and conventional financings. The health care transactions include financings for hospitals, intermediate and skilled-care nursing homes, assisted living facilities and board and care residences, while the housing transactions include market-rate and affordable multifamily rental projects, condominiums, cooperatives and single-family developments.

Krooth & Altman counsels clients at all phases of financing transactions, including structuring the business entities, acquisition and sale of project sites, loan structuring and closing, secondary market transactions involving Ginnie Mae, as well as Fannie Mae, Freddie Mac and other private investors, private securitization and mortgage investment vehicles, issuance and sale of tax-exempt revenue bonds, refinancings, restructurings, bond refundings, work-outs of delinquent and defaulted mortgages and problem projects, and bankruptcy. In these matters, the firm’s clients include institutional lenders and investors, mortgage bankers, investment bankers, bond insurers, developers, builders, contractors, public authorities, syndicators, trade associations, nonprofit corporations and housing cooperatives.

The firm has valuable legal and practical knowledge of the important Federal insurance, lending and subsidy programs that are implemented for housing and health care at the Federal, State and local levels. Lender, investors, borrowers and credit-enhancement participants seek the firm’s expertise in governmental programs. The firm’s representation of lenders includes closing, under challenging time constraints, FHA-insured mortgages, Fannie Mae DUS and Freddie Mac loans, and privately pooled multifamily loans, as well as rendering advice and counsel in the related corporate and regulatory matters.

As a result of its reputation with respect to the programs of the U.S. Department of Housing and Urban Development, K&A frequently serves as special counsel for FHA matters in business transactions and represents clients in administrative and judicial proceedings, including bankruptcy cases, in which the law associated with FHA or its programs is applied.