Mark Lewis Patterson’s practice includes all aspects of real estate and real estate finance, including commercial mortgage-backed securities servicing.
Practice & Background
For the past 17 years, Mr. Patterson has represented a broad array of clients in all phases of commercial real estate transactions, including developers, lenders, servicers and investors in buying, financing, managing, operating, and selling commercial and retail real estate projects. His experience spans all aspects of complex commercial real estate and mortgage transactions on a national scale, involving virtually every product line. Mr. Patterson has represented some of the nation’s most active servicers of real estate mortgage investment conduit trusts, private real estate equity funds and commercial real estate lenders. His servicer representation has involved numerous special servicing matters, including workouts, restructurings, loan sales, modifications and foreclosures, as well as the documentation and closing of real estate owned property dispositions involving all asset classes. He has also documented all types of nontransfer matters, including loan assumptions and consents to transfers of equity interests and oil and gas leases. He has provided transactional support for specially serviced matters moving into litigation (both as plaintiff and defendant) and bankruptcy.
His lending experience includes representation of major national banks and national private finance companies, and has involved numerous multiproperty, multistate commercial real estate loans, ranging in size from the low millions to more than $500 million.
Some of Mr. Patterson’s recent transactions of note include representation of the largest special servicer in the country. Mr. Patterson’s recent nonservicing representations also include specialty financial services and investment management companies (for example, regional centers assisting foreign nationals in obtaining domestic EB-5 Visas).
Mr. Patterson also represents large, private equity investors in the organizational and operational documentation and development of real estate projects “from the ground up,” as well as in the equity investors’ exercise of rights and remedies to “kickout” managers and general partners, and the accompanying loan workout negotiations with lenders on the “borrower” side.
Mr. Patterson received his B.B.A. in accounting in 1981 from the University of Texas and his M.B.A. in finance in 1988 from the University of Houston. He received his J.D. cum laude in 1994 from South Texas College of Law. He is a member of the Real Property Sections of both the Dallas Bar Association and the State Bar of Texas. He is a certified public accountant licensed in the state of Texas (currently on “inactive” status). Prior to attending law school, Mr. Patterson was the assistant vice president and corporate trust officer for Texas Commerce Bank in Houston, and he worked in the accounting and tax departments of Gulf Oil Company and Key Oil Company.
Mr. Patterson’s recent engagements include:
Servicing Representation of the Largest Special Servicer in the Country
- in the bankruptcy context, foreclosure of nondebtor TIC entities’ interests in properties where single-debtor TIC filing failed to effect a “stay” (Texas and California properties)
- foreclosure of a senior lender position in complicated mezzanine and A/B note structures
- workout of a multifamily/multistate property portfolio secured by individual security instruments, but evidenced by a single note and requiring severance of the single note into discrete, specific tranches
- negotiations with “recalcitrant” borrowers refusing to strictly comply with loan document covenants, threatening lender liability lawsuits, orchestrating “involuntary” bankruptcies and attempting to hinder and delay, and otherwise interfere with, the substitute trustee’s agenda in conducting the nonjudicial foreclosure
- foreclosure of properties in which the lender does not want to appear in the chain of title through creative bidding strategies designed to ensure a sale to third parties at the foreclosure
- negotiations with the developer in a payoff of loans through the largest single sales transaction of commercial properties in Dallas in 2011 (Three buildings totaling approximately one million square feet).
- hard-money loan on one of the first real estate developments to utilize New Markets Tax Credit and Historic Tax Credit equity
- senior, mezzanine and participation loan structures in all aspects of financing and developing real estate in the Dallas central business district
- hard-money loan on a condominium regime.
Mr. Patterson’s community, civic and charitable activities include:
- volunteer on several auction committees for Jesuit College Preparatory School
- volunteer for Jesuit’s Cross Country Classic race fundraiser and Track and Field’s Sheaner Relays.
- The Basics of EB-5 Lending, UT Law CLE Mortgage Lending Institute, September 18, Austin, TX. Topics covered included the background and current developments of the EB-5 Immigrant Investor Program, including basics of EB-5 lending and investing, considerations for lenders when EB-5 money is in the capital stack, and common compliance issues associated with using EB-5 capital.