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Michael Petersilia focuses his practice on the purchase, sale and financing of multifamily residential rental housing developments, with an emphasis on properties financed with tax-exempt bonds and low-income housing tax credits. Michael has represented borrowers, asset managers, public agencies, nonprofits, lenders, trustees and credit enhancers. His lender representation has included agency lenders underwriting tax-exempt bond credit enhancements for Fannie Mae and Freddie Mac, as well as lenders acquiring tax-exempt bonds for their own account. His experience also includes securitizations of tax-exempt bond financed real properties using limited partnerships and trusts, interest rate swaps, and the federal income tax aspects of tax-exempt bonds and related issues, including refundings and reissuances of tax-exempt bonds. He has helped clients acquire pools of defaulted bonds and pools of apartment communities financed with defaulted bonds.
Michael also has considerable experience in transactions utilizing low-income housing tax credits under section 42 of the Internal Revenue Code, with an emphasis on the federal income tax aspects of such transactions. He has negotiated and drafted numerous partnership and limited liability company agreements and advised clients on the federal income tax aspects of such entities.
Professional Affiliations and Recognitions
- Member, National Association of Bond Lawyers
- Member, State Bar of Texas
- Member, Dallas Bar Association
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