Michael Pettingill, counsel in the Real Estate practice, advises clients in a wide range of lending and structured finance transactions with concentrations in commercial mortgage backed securities (CMBS) and collateralized loan obligation (CLO) transactions.
He represents financial institutions and borrowers in commercial mortgage, mezzanine and asset-based lending transactions, and has extensive experience representing special servicers on CMBS and CRE CLO transactions, loan modifications and workouts. Michael has represented CLO managers and issuers on cash and synthetic CLO transactions and warehouse facilities since 2001, and has structured and closed multiple first-of-its-kind CLOs. Michael has also represented financial institutions on credit default swaps, credit-linked note programs and receivables financing transactions.
Michael recently spent over four years as General Counsel of Silvermine Capital Management.
- Represented lenders on a $70 million credit facility to enable a CLO manager’s majority owned affiliate (MOA) to obtain warehouse financing and acquire horizontal risk retention securities for a series of CLOs.
- Represented lenders financing the acquisition by an MOA of a vertical strip of risk retention securities.
- Represented Silvermine Capital Management on CLO refinancings, resets, and new issue transactions.
- Represented rating agencies on CMBS and CRE CLO transactions focusing on intercreditor and co-lending agreements.
- Represented Trimont Real Estate Advisors as special servicer for CMBS transactions. Representative transactions include, Caesars Palace Las Vegas Trust 2017-VICI, Cold Storage Trust 2017-ICE3, JPMCC 2017-MAUI and JPMCC 2016-ASH.
- Represented a commercial bank financing the acquisition of B-piece in a Freddie Mac CMBS transaction.
- Represented co-lenders on a credit facility financing a counterparty of Plug Power Inc. in a series of sale-leaseback transactions relating to hydrogen-powered industrial equipment employed at various Walmart distribution centers.
- Represented the developer of a 10.3 MW gas-fired combined cycle co-generation and ice production facility in its refinancing of a distressed senior construction loan and the simultaneous negotiation and documentation of a mezzanine construction loan and issuance of Series A and Series B shares.
- Represented CLO managers on M&A transactions, joint ventures and total return swap transactions.
- Represented insurance companies in the acquisition of mortgage loans on office, retail and industrial properties.
Villanova University School of Law
- Member, New York City Bar Association
- Member, New York State Bar Association