Ballard Spahr’s Construction Lending Team focuses on structuring, negotiating, closing, servicing, and restructuring a wide-range of construction, development, and renovation loans on an individual and programmatic basis across the nation. We work with institutional, private credit, and debt fund clients, developers, and investors in a variety of deal executions, including senior secured transactions on a single- and multi-lender basis, mezzanine loans, and preferred equity and joint venture transactions. Our team also has experience with warehouse and other secondary-market transactions involving construction and development loans.
Our team is experienced in financing a wide variety of asset classes, including multifamily, single-family rental (SFR), single-family for-sale, and related land acquisition and site development transactions. We also handle financing for office, office-to-multifamily conversion, residential and commercial condominium, credit tenant lease (CTL) and build-to-suit projects—including corporate headquarters and complex government facilities—hotel, resort, and timeshare, student housing and university projects, charter schools, affordable housing and low-income housing tax credit projects, retail, industrial, self-storage, warehouse/distribution projects, and senior care facilities such as assisted living, memory care, and skilled nursing homes, which are insured by the U.S. Department of Housing and Urban Development under various sections of the National Housing Act, as amended, including Sections 221(d)(4), 220, 213, 231, and 232."
Representative Experience
Multifamily
- Represented a lender in the refinancing of a construction loan for a two-building, multifamily project in New Jersey along the Hudson River that included funding for the construction of additional building floors and completion of the project. The buildings were part of a multi-phase, mixed-use development.
- Represented the real estate lending division of a large bank in a $70 million construction loan to a joint-venture borrower, the designated redeveloper for a major downtown renewal project just outside New York City, for a multifamily rental project. The representation included negotiating relevant documentation with the redevelopment authority.
- Represented a national commercial bank, as agent and lender, in a $65 million syndicated construction loan for a 16-story, 286-unit multifamily residential property and a four-story parking garage in center city Philadelphia