Michael Petersilia

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.

Michael’s representative experience includes:

• Represented lenders, including 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
• 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
• Helped clients acquire pools of defaulted bonds and pools of apartment communities financed with defaulted bonds
• 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
• Negotiated and drafted numerous partnership and limited liability company agreements and advised clients on the federal income tax aspects of such entities