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Patrick R. Jules Associate

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Washington, D.C. T +1 202 857 1755 F fax +1 202 828 3355
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Patrick serves as an associate in the real estate and land use department in the Washington, D.C. office of McGuireWoods. He primarily represents lenders nationwide in the origination, sale, and servicing of commercial real estate loans under Freddie Mac’s Optigo and TAH product lines; and Fannie Mae’s DUS and MAH product lines. His practice focuses on financings involving low-income housing tax credits, HAP contracts, DLA Mezz, preferred equity, ground leases, PILOTs, and tax abatements.

He represents lenders in connection with the origination of bridge loans to finance the renovation and stabilization of multifamily properties and in connection with any CLO offerings. He also represented national lenders in matters involving loan modifications, real estate litigation, TILA, RESPA, CFPB, title curative actions, and related appellate matters.

Patrick is a member of the firm’s Real Estate Capital Markets Industry Team and Affordable Housing Team.

Experience

Conventional Real Estate Finance Transactions

  • Represented a Fannie Mae DUS lender in connection with a $74.3 million loan involving a 574 unit multi-family portfolio of affordable units.
  • Represented a Fannie Mae DUS lender in connection with a $95 million loan and $6 million Mezzanine Loan on 120 units.
  • Represented a Fannie Mae DUS lender in connection with a $10 million loan involving a 22 unit multi-family portfolio with a Co-Borrower structure.
  • Represented a Fannie Mae DUS lender on the closing of a $40 million loan involving a 102 unit multi-family portfolio with a Tenant In Common structure and multiple commercial leases.
  • Represented a Freddie Mac seller/servicer in connection with a $9.375 million Freddie MAC Optigo loan involving a Declaration of Covenants and Restrictions on a former naval military base.
  • Represented a Freddie Mac seller/servicer in connection with a $15 million Freddie MAC Optigo loan involving a fractured condo with shared use agreements for commercial spaces.

Affordable Housing Finance Transactions

  • Represented a Freddie Mac seller/servicer in connection with a $50 million Freddie MAC Targeted Affordable Housing loan involving multiple HAP contracts on a 408 unit.
  • Represented a Fannie Mae DUS lender on the closing of a $3.3 million loan involving a 34 unit multi-family portfolio in California, containing five separate low income housing tax credits.
  • Represented a Freddie Mac seller/servicer in connection with a $2.786 million Freddie Mac Targeted Affordable Housing loan involving 48 units, a land use regulatory agreement and tax abatement.
  • Represented a Fannie Mae DUS lender on the closing of a $4.3 million loan involving 67 units, the San Diego Housing Authority, a ground lease, a land use regulatory agreement, and a shared parking structure and a post-closing tax abatement.
  • Represented a Fannie Mae DUS lender on the closing of a $1.4 million loan involving 60 units, with the retirement of bonds, a defeasance, and two regulatory agreements.
  • Represented a Fannie Mae DUS lender on the closing of a $8.3 million loan involving 128 units, with the retirement of bonds, a defeasance, and a land use regulatory agreement
  • Represented a Freddie Mac seller/servicer in connection with a $14 million Freddie Mac Targeted Affordable Housing loan involving a 228 unit Property with a land use regulatory agreement, and a declaration of restrictive covenants with a low income housing tax credit.