Overview
“One client states, ‘the real estate team has been top notch - always responsive and on time. My only serious firm to contact when a complex or time-critical transaction is at hand.’" Chambers USA
With decades of experience advising on commercial real estate development and investment projects across the Mid-Atlantic, Hirschler attorneys have a deep working knowledge of nearly every real estate financing vehicle available. Among our core practice capabilities:
- Traditional financing from banks and life insurance companies.
- Commercial Mortgage-Backed Securities (CMBS) financing.
- Financing of multi-family projects through Fannie Mae, Freddie Mac, Housing and Urban Development (HUD) and the Virginia Housing Development Authority (VHDA).
- Medical office building joint ventures.
- Financing for senior housing and assisted living facilities.
- Mezzanine loans.
- Low income tax credit financing for affordable housing projects.
- Property Assessed Clean Energy (PACE) financing.
- Local counsel opinion letters for Virginia and multi-state transactions.
How We Create Value
Hirschler understands that real estate clients value efficiency and cost savings. Based on the volume and breadth of the financing transactions we handle, Hirschler attorneys are able to create efficiency and cost savings through:
- A deep understanding of the issues that lenders may have in negotiating a loan commitment or a set of loan documents, and an ability to advise clients on “market” terms.
- The involvement of a talented group of associates and paralegals, who work under the close supervision of the client’s partner-level advisor.
- Strong relationships with attorneys representing real estate lenders and other service providers in the real estate development and financing arena, such as brokers, appraisers, engineers/surveyors, environmental firms and title insurance companies.
- Deep experience with alternative forms of financing, including historic tax credits, as well as lesser known tax credits, such as PACE loans and New Market Tax Credits, as well as heavily institutionalized types of financing, such as HUD loans and financing by the VHDA for multi-family projects.
- Regular monitoring of market changes, government regulation and innovative financing opportunities.
Whom We Serve
Though based in Virginia, Hirschler has handled financing transactions for clients and projects throughout the United States. Among our valued clients:
| Gumenick Properties | Eagle Bank |
| HHHunt | TowneBank |
| A major healthcare system | SunTrust Bank |
| O’Brien-Staley Partners | Marriott International, Inc. |
| Weinstein Management Co., Inc. | Greenworks Lending |
| PACE Equity |
Experience
Experience
Borrower Representation
- Representation of Weinstein Management, a multi-family borrower in multiple property, multiple jurisdiction pooled CMBS transactions.
- Ongoing representation of HHHunt Corporation and related entities in acquisition and development financing, as well as builder line loans for their home building divisions. Projects on which the Firm has assisted HHHunt include award-winning major residential developments in central and eastern Virginia, as well as North Carolina, such as Wyndham, Wellesley, Twin Hickory and Charter Colony. These projects include a wide variety of single family, townhome and condominium residences, with supporting retail and recreational amenities.
- Ongoing representation of local developer, Gumenick Properties, on permanent financing of numerous apartment projects and high end townhome and condominium projects in the Richmond Metropolitan area. We are assisting Gumenick Properties with the development and construction financing for a major, mixed-use development in midtown Richmond that includes townhomes, condominiums, retail and office uses, and a public library.
- Represented a real estate fund manager with investment funding from high net worth individuals and acquisition financing from various lenders. The fund has acquired more than 40 shopping centers since its formation in 2012.
Lender Representation
- Representation of Lead Agent in syndicated construction loan of a downtown Richmond office building.
- Assisted Marriott International, Inc. and its lending affiliate, Marriott International Capital Corporation, in creating and implementing a national finance program intended to provide financing for the construction of Marriott-branded properties. During the past 25 years, Jay Yurow has worked with Marriott on secured financing transactions throughout the United States.
- Ongoing representation of a Washington, D.C.-based EB-5 lender. Recent transactions include:
- Senior financing for the construction of the 182-room Cambria Suites and 150-unit apartment property in the historic CityMarket Marketplace in Washington, D.C.
- Senior financing for the construction of the 278-room InterContinental hotel and the Fish Market at the Southwest Wharf redevelopment in Washington, D.C.
- Senior financing for the construction of the infrastructure and retail improvements at Skyland Town Center in Washington, D.C.
- Mezzanine financing for the construction of the retail and residential components at H Street, NE in Washington, D.C.
When complete, each of the noted projects will be integrated, mixed-use developments with some combination of retail, hotel, office and residential spaces.
- Represented financial institutions and investors in the purchase and sale of commercial loan portfolios throughout the United States and Puerto Rico. The firm closed multiple, underperforming loan portfolio transactions secured by a variety of asset classes with values in excess of $500 million.
- Represented multiple real estate fund managers as they have moved from a high net worth to an institutional investor base over the course of several funds.
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Practice Contact
540.604.2109
