Michael Zerman’s practice focuses on real estate transactions, including purchase & sale, mortgage financing, leasing, and construction.  He represents pension funds, developers, financial institutions, REITs, retail chains, health care organizations and government entities.  Typical matters handled by Mr. Zerman relate to office buildings, industrial properties, shopping centers, apartment properties, hotels, pro-sports facilities and mass-transit sites.

Notable Lender Representations

• $165 million construction loan made by an insurance company for a landmark 400,000 sq. ft. office building in West Hollywood, California;
• Represented a commercial bank on the sale of a portfolio of 64 loans secured by commercial properties in ten different states;
• Foreclosure of a $75 million acquisition and development loan, made by a national credit company, secured by a 244-acre residential subdivision in Monterey County, California;
• $10 million mezzanine loan made by a major New York investment bank to the developer of a 47-acre residential development in Queens, New York;
• $105 million construction loan made by an insurance company for a condominium tower in downtown Los Angeles, California;
• Settlement Agreement and deed in lieu of foreclosure taken by a foreign bank on a 900-acre oceanfront site in San Mateo County, California;
• Ten modifications of a $73 million construction loan made by an insurance company secured by an office complex in Burbank, California;
• $15.7 million permanent loan made by a commercial bank, secured by 17 apartment complexes in Los Angeles County, California; and
• Foreclosure of a $50 million credit facility made by a commercial bank secured by offshore oil leases in Ventura County, California.

Notable Borrower Representations

• Modification and extension of a $6 million construction loan for a 81,000 sq. ft. industrial park in Riverside, California;
• $54 million construction loan made by three regional banks for a ten-story office building in Riverside, California;
• $77 million construction loan made by a commercial bank for a 276 unit apartment project in Burbank, California;
• $21 million acquisition loan made by a national bank for acquisition of mixed-use development site in West Los Angeles, California;
• $10.5 million refinancing made by a conduit lender secured by portions of a regional mall in Ontario, California; and
• $28.4 million construction loan made by a commercial bank for a luxury home development in Los Angeles County, California.

Notable Purchaser Representations

• Purchase of fifteen net-leased retail properties in California, Nevada and Arizona;
• Purchase of seven regional malls and one strip center in six different states for a NYSE-listed REIT;
• Purchase of a 2.5 million sq. ft. super-regional mall for a NYSE-listed REIT;
• Purchase of five industrial development sites, containing 50 acres, in Riverside County, California;
• Purchase of a 50,000 sq. ft. big-box retail store in Los Angeles, California for a national retail chain;
• Purchase of a two-acre site in Playa Vista, California for the development of a 35,000 sq. ft. training facility for a National Basketball Association franchise;
• Purchase of a 7-acre multi-family development site in North Hollywood, California;
• Purchase of a 27-acre industrial development site in Valencia, California;
• Purchase of a 37-acre site in San Bernardino County, California for a professional motor speedway;
• Purchase of a 392-unit apartment complex in Anaheim, California; and
• Purchase of 6 Texas and New Mexico nursing homes on behalf of a NYSE-listed REIT.

Notable Seller Representations

• Sale of a 300,000 sq. ft. warehouse and distribution facility in Ontario, California;
• Sale of a 50,000 sq. ft. medical office building in Bakersfield, California;
• Sale of a mixed-use development site in downtown Seattle, Washington;
• Sale of a 6-acre multi-family development site in San Diego, California;
• Sale of a 165,000 sq. ft. warehouse and distribution facility in Los Angeles, California;
• Sale of a 60,000 sq. ft. office building in Houston, Texas;
• Sale of a 100,000 sq. ft. office park in West Los Angeles, California; and
• Sale of a 150,000 sq. ft. industrial building in Santa Fe Springs, California.

Notable Exchange Representations

• Exchange of unimproved land in Playa Vista, California for 3 Wal Mart stores in Arkansas and Alabama, and a Circuit City distribution center in Lexington, Kentucky;
• Exchange of an industrial site in Huntington Beach, California for 7 apartment communities in San Bernardino County and San Diego County, California; and
• Exchange, by lot line adjustment, of several acres comprising portions of a regional mall and an adjacent office tower.

Prior to joining Zuber & Taillieu, Mr. Zerman practiced at Manatt, Phelps & Phillips LLP.  Prior to that, Mr. Zerman was an officer of two major investment banking firms, and owned and developed several commercial properties in New York City.  In addition, Mr. Zerman served as a consultant to the Resolution Trust Corporation.

Professional Honors and Activities

• Co-Chair, Real Estate Finance Section, State Bar of California, 2010-2012
• Organizing Committee Member, BOMA Medical Office Buildings Conference, 2008-2011
• Planning Committee Member, UCLA Real Estate Conference, 2010
• Member, International Council of Shopping Centers

Representative Publications

• “Practice Tip: Shared Appreciation Loans,” State Bar of California Real Property Law Section E-Bulletin, May 2011.
• “Lending on Distressed Real Estate Notes: Business and Legal Issues,” Los Angeles Daily Journal (October 2010).
• “California Lenders Should Think Twice Before Exercising Remedies Under a Material Adverse Change Clause,” State Bar of California Real Property Law Section E-Bulletin, September/October 2010 (Awarded Outstanding E-Bulletin Submission for 2010-2011).
• “Don’t Wing It! Practical Safeguards for Effective Mortgage Modifications,” Probate & Property, May/June 2009: 23-3 (Cover Story).
• “Avoiding a Ground Lease Faux Pas,” Retail Law Strategist, October, 2004.
• “California Licensing Requirements for Unregulated Lenders and Intermediaries,” The Real Estate Finance Journal, Summer 2000.

Representative Speaking Engagements

• “Real Estate Finance and Foreclosure in the Golden State,” BOMA National Conference, June 2010.
• “Converting Leases From Modified Gross to Net,” BOMA Medical Office Buildings Conference, June 2009.
• “Zen and the Art of Survey Analysis,” ICSC Shopping Center Law Conference, October 2006, January 2008.
• “Advanced Title Insurance Coverages and Endorsements,” ICSC Shopping Center Law Conference, October 2005, October 2008.