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Buchalter

Michael Zerman

Michael Zerman

Shareholder

Expertise

  • Real Estate
  • Government, Regulatory & Administrative Law

WSG Practice Industries

Activity

WSG Leadership

WSG Coronavirus Task Force Group
Member

Buchalter
California, U.S.A.

Profile

Michael Zerman’s practice focuses on real estate transactions, including purchase & sale, mortgage financing, leasing, construction agreements, and easement agreements. He represents developers, pension funds, financial institutions, government entities, REITs, retail chains, and health care organizations. Typical matters handled by Mr. Zerman relate to office buildings, industrial properties, shopping centers, hotels, medical facilities, multi-family residential properties, pro-sports facilities, and mass-transit sites. Mr. Zerman has also represented several prominent federal and state government agencies on the investigation of claims arising out of the 2008 financial crisis and LIBOR manipulation.

Prior to practicing law, Mr. Zerman was an officer of two major investment banking firms, and owned and developed several commercial properties in New York City. In addition, he served as a consultant to the Resolution Trust Corporation.

Professional Honors and Activities

  • Recognized as a Southern California Super Lawyer by Super Lawyer Magazine, 2013-2018
  • Vice-Chair and Executive Committee Member, Real Property Law Section, State Bar of California 2012-2017
  • Co-Chair, Real Estate Finance Subsection, State Bar of California, 2010-2012
  • Organizing Committee Member, BOMA Medical Office Buildings Conference, 2008-2011, 2013
  • Member, International Council of Shopping Centers, NAIOP

Bar Admissions

  • California
  • New York

Education

  • Wesleyan University
  • University of Arizona
Areas of Practice

Government, Regulatory & Administrative Law | Real Estate

Professional Career

Significant Accomplishments

Mr. Zerman has been lead counsel on hundreds of real estate transactions throughout the United States (and in Mexico) over the past 25 years. Notable representative matters include:

Purchase and Sale Transactions

  • 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 in Torrance, California for a NYSE-listed REIT
  • Acquisition of 80 parcels in Los Angeles County, California in connection with the operation of a new commuter rail line
  • Purchase of a 300,000 sq. ft. community shopping center in San Bernardino County, California for an Asia-based investment company
  • Purchase of a 500,000 sq. ft. industrial facility located in central Florida
  • Purchase of fifteen net-leased retail properties in California, Nevada, and Arizona
  • Purchase of five industrial development sites, containing 50 acres, in Riverside County, California
  • Purchase of an addiction treatment facility in Los Angeles, California
  • Purchase and sale of several oceanfront residential sites in Los Cabos, Mexico
  • Purchase of a 50,000 sq. ft. big-box retail store in West Los Angeles, California for a national retail chain
  • Purchase of a 7-acre multi-family development site in North Hollywood, 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
  • Purchase of 6 Texas and New Mexico nursing homes for a NYSE­ listed REIT
  • Sale of a 168,000 sq. ft. office headquarters building in Westlake Village, California for a Fortune 500 corporation
  • Sale of a mixed-use development site in West Los Angeles, California for a NYSE-listed corporation
  • Sale of a portfolio of billboard assets to a Fortune 100 global media corporation
  • Sale of 19 assisted living facilities to a NYSE-listed REIT
  • Sale of a 300,000 sq. ft. warehouse and distribution facility in Ontario, California
  • Sale of a mixed-use development site in Seattle, Washington
  • Sale of a 6-acre multi-family development site in San Diego, California
  • Sale of a 85,000 sq. ft. industrial building in Vernon, California
  • Sale of a 50,000 sq. ft. medical office building in Bakersfield, California
  • Sale of a 165,000 sq. ft. warehouse and distribution facility in Los Angeles, California
  • Sale of a 100,000 sq. ft. office park in West Los Angeles, California
  • Exchange of unimproved land in Playa Vista, California for three Walmart 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
  • Exchange, by lot line adjustment, of several acres comprising portions of a regional mall and an adjacent office tower in Orange County, California

Finance Transactions and Workouts

  • $165 million construction loan made by an insurance company for a landmark 400,000 sq. ft. office building in West Hollywood, California
  • $62 million refinancing made by a foreign bank secured by two luxury hotels located in Anaheim and South Lake Tahoe, 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
  • Represented a commercial bank on the sale of a portfolio of 64 loans secured by commercial properties in ten different states
  • $15.7 million permanent loan made by a commercial bank, secured by 17 apartment properties in Los Angeles County, 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
  • $28.4 million construction loan made by a commercial bank for a luxury home development in Arcadia, 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
  • 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
  • Foreclosure of a $50 million credit facility made by a commercial bank secured by offshore oil leases in Ventura County, California
  • Modification and extension of a $6 million construction loan for a 81,000 sq. ft. industrial park in Riverside, California

Ground Lease and Commercial Leasing Transactions

  • Five ground leases relating to the construction of medical office buildings located in Los Angeles, Bakersfield, San Gabriel, and Santa Maria, California
  • Four ground leases relating to construction of three restaurants and a hotel located in Carlsbad, California
  • Several restaurant and retail leases for a commuter rail terminal in downtown Los Angeles, California
  • Office lease for 25,000 square feet of office space located in Century City, California
  • Office lease for 22,000 square feet of office space located in downtown Los Angeles, California
  • Two office leases for 70,000 square feet of office space located in Buena Park, California
  • Lease for 300,000 square feet of industrial space located in Ontario, California
  • Lease for 100,000 square feet of industrial space located in Santa Monica, California
  • Numerous office leases and subleases for a large health care organization
  • Numerous billboard leases for an outdoor advertising company
  • Numerous retail leases for two regional retail chains
  • Represented a large condominium owners association on a highly-complex ground lease amendment and the simultaneous modification of over 500 separate condominium subleases

Construction Agreements

  • Several construction agreements, architect’s agreements, and consulting agreements for a 35,000 sq. ft. training facility for a National Basketball Association franchise located in Playa Vista, California
  • Numerous construction agreements, architect’s agreements, and consulting agreements for a 50-acre industrial park located in Riverside County, California
  • Several construction agreements and consulting agreements for a luxury hotel located in Anaheim, California
  • Construction management agreement for a 350-unit luxury apartment community located in Westwood Village, California
  • Construction agreement for a 30-story condominium tower located in downtown Los Angeles, California
  • Numerous construction agreements, architect’s agreements and consulting agreements for a 70-acre industrial park located in Whittier, California
  • Construction agreement for the renovation of a Hilton hotel located in San Bernardino, California
  • Construction management agreement for the total renovation of a fully-leased office building located in Studio City, California

Easement Agreements and CC&Rs

  • Easement Agreement for a pedestrian bridge connecting the Broad Museum to a new subway station in downtown Los Angeles, California
  • Highly-complex Reciprocal Easement Agreement for the development of a multifamily residential complex surrounding a commuter rail line and station in Pasadena, California
  • Declaration of Covenants, Conditions and Restrictions for a 1.6 million sq. ft. industrial park in Whittier, California
  • Numerous drainage easements, sewer easements and roadway easements for a 2.5 million sq. ft. super-regional mall in Torrance, California

Articles

  • Buchalter Client Alert COVID-19: Planning for Re-Opening: What Owners, Property Managers and Users of Office and Retail Properties Should Consider
  • Buchalter Client Alert: Impact of COVID-19 on Real Estate Transactions
  • California Licensing Requirements for Unregulated Lenders and Intermediaries
  • Practice Tip: Shared Appreciation Loans
  • California Lenders Should Think Twice Before Exercising Remedies Under a Material Adverse Change Clause
  • Lending on Distressed Real Estate Notes: Business and Legal Issues
  • New FDIC Guidelines Offer Helpful Hints for Real Estate Workouts
  • IRS Liberalizes Rules for Restructuring Mortgages Held by REMICS
  • Don’t Wing It! Practical Safeguards for Effective Mortgage Modifications
  • Avoiding a Ground Lease Faux Pas


WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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