Micah Elazar is an associate in the firm’s Real Estate group where he is involved in various commercial real estate finance transactions. He has had substantial experience in all aspects of real estate finance transactions, including loan origination, secondary market transactions, and mezzanine financing, as well as in interest rate derivatives.
Mr. Elazar regularly represents Fannie Mae, mortgage lenders, special servicers and various other clients in a range of matters including:
- Loan originations and credit facilities secured by cross-collateralized pools of multifamily, seniors and student housing, frequently involving the issuance of mortgage-backed securities;
- Secondary market loan portfolio acquisitions involving cash purchases, securities swaps and participations;
- Interest rate cap and swap derivative transactions, including customized rate cap documentation and ISDA Master Agreements, in connection with floating rate loan programs or other institutional hedging purposes;
- Loan workouts and modifications including the restructuring of secured debt on behalf of special servicers in a major commercial real estate bankruptcy and the restructuring of a cross-collateralized credit facility with multiple layers of mezzanine financing;
- Negotiation of intercreditor agreements between senior and mezzanine lenders;
- Pro bono representation of a non-profit organization in connection with a leasing dispute.
Significant Matters
In 2007, Mr. Elazar was involved in representing Fannie Mae in the two largest multifamily transactions in its history: a $7.1 billion credit facility secured by over 100 multifamily properties and a $3.5 billion portfolio loan purchase secured by 244 senior housing properties.
Activities
Mr. Elazar currently serves on the Board of Directors of Takoma Children’s School.