Mike R. Tirman

Mike Tirman focuses his practice on all areas of real estate law, including acquisitions and dispositions, development, financing, joint ventures, and related corporate services. He regularly advises real estate investors, developers, REITs, and family offices in all real property asset classes.

He has represented clients in the acquisition, development, and financing of real estate across the country. He’s served as trusted counsel and a tactful negotiator as these clients navigate various loans and purchase agreements, joint venture and fund agreements, development agreements, structuring matters, and more.

Additionally, Mike’s experience extends to cross border investment. He holds niche knowledge of Shariah-compliant investments. Mike has represented foreign family offices and foreign private equity firms in the acquisition and financing of various real estate and corporate interests, favorably drafting and negotiating finance leases (Ijara) and providing counsel on structuring acquisition and financing when funds flow through the MENA region.

Mike has previously served as a speaker on leasing issues (CLE Forum for In-House Counsel), Shariah-compliant asset management and Islamic capital raising in Saudi Arabi (IFN KSA Dialogues in Saudi Arabia), as well as tax and legal structuring.

Practice Areas

Representative Matters

Acquisition, Disposition, & Financing

• Mike represented a real estate fund in the acquisition and financing of a six-property portfolio of industrial buildings located in Cincinnati, Ohio for ±$33,000,000. He negotiated the purchase agreement, provided counsel on the corporate structure of the borrower, conducted real property due diligence, and coordinated the closing. He also negotiated the acquisition loan agreement from a life insurance company in the principal amount of ±$20,000,000.*
• Mike represented an investment firm in the acquisition and financing of a 136-bed student housing project located near the campus of the University of West Georgia in Carrollton, Georgia for ±$8,100,000. The acquisition included the assumption of a Freddie Mac loan in the original principal amount of ±$6,000,000.*
• Mike represented a foreign family office in the acquisition and financing of a 30-property portfolio of industrial buildings located in fifteen states across the US for ±$195,000,000. He negotiated the acquisition CMBS loan agreement from an international bank in the principal amount of ±$130,000,000. He also represented the client in the negotiation of a joint venture agreement with a US-sponsor who ultimately would act as the general partner of the investment. *
• Mike represented an investor in the acquisition of a roadside hotel in Fort Stockton, Texas for ±$12,000,000. The acquisition was initially funded with seller financing, which was shortly thereafter refinanced for long-term debt from a local bank in the principal amount of ±$7,000,000.*

 Development & Financing

• Mike represented a multifamily developer in the land acquisition, development, and financing of a 252-unit workforce housing development in Cumberland, Indiana with a stabilized appraised value of ±$28,500,000. He counseled the client on the structure of the acquisition and financing, which consisted of a complicated capital stack of preferred equity, tax increment financing (TIF) proceeds, and a construction loan from a national bank. He negotiated a TIF bridge loan that provided financing for the developer-backed bonds, and negotiated a construction loan that included a forward commitment to convert to a permanent Freddie Mac loan upon stabilization. He also drafted and negotiated a comprehensive declaration of covenants, conditions, and restrictions for the development. *
• Mike represented a student housing developer in the land acquisition, development, and financing of a 284-bed student housing development located near the campus of Mississippi State University in Starkville, Mississippi with a stabilized appraised value of ±$26,000,000. He negotiated a construction loan with a principal balance of ±$14,500,000 and drafted and negotiated several easements related to water access for the development. *
• Mike represented an investment firm in the acquisition and development of a ±400,000 square foot distribution warehouse in San Antonio, Texas, with a stabilized appraised value of ±$86,000,000. He negotiated a third-party development services agreement on behalf of the client and a joint venture agreement with the seller who was participating in the deal post-closing. *
• Mike represented a bridal designer and retailer in the development and financing of its ±25,000 square foot worldwide headquarters and showroom located in Indianapolis, Indiana. He negotiated the construction loan agreement with a principal amount of approximately ±$10,300,000 guaranteed by the U.S. Small Business Administration, and continues to act as outside general counsel to the owners of the business.*
• Mike represented a multifamily developer in the land acquisition, development, and financing of a 102-unit build-to-rent single family home development in Houston, Texas with a stabilized appraised value of ±$26,000,000. He counseled the client on the structure of the acquisition and financing, which included proceeds from a Section 1031 exchange, and a construction loan from a national bank that was master leased to the developer.*

Cross Border Investment

• Mike represented a foreign family office in the joint venture, development, and financing of a senior living development in Punta Gorda, Florida with a stabilized appraised value of ±$30,000,000. He counseled the client on the structure of the acquisition and financing, which included a flow of funds from the MENA region through Jersey into a Delaware limited liability company taxed as a corporation. He also drafted and negotiated a finance lease (Ijara) and worked with the client's advisors and auditors to ensure that the investment was Sharia complaint. *
• Mike represented a foreign private equity firm in the acquisition and financing of a medical office building in Cincinnati, Ohio for ±$85,000,000. He negotiated the purchase agreement, negotiated a joint venture agreement with a US-general partner, provided counsel on the corporate structure of the borrower (which anticipated the flow of funds from the MENA region through Jersey), conducted real property due diligence, and coordinated the closing. He also negotiated the acquisition loan agreement from an international bank in the principal amount of ±$56,000,000, and drafted and negotiated a Sharia-compliant finance lease (Ijara).*
• Mike represented a foreign private equity firm in the acquisition and financing of an office building in Westmont, Illinois for ±$21,700,000. He negotiated the purchase agreement, provided counsel on the corporate structure of the borrower (which anticipated the flow of funds from the MENA region through Jersey), conducted real property due diligence, and coordinated the closing. He also negotiated the acquisition loan agreement from an international bank in the principal amount of ±$14,500,000, and drafted and negotiated a Sharia-compliant finance lease (Ijara).*

*Matters handled prior to joining Honigman LLP

Prior Experience

• Ice Miller LLP, Partner

Additional Languages

• French

Education

Admissions

Awards

• Best Lawyers, Real Estate Law
• Illinois Super Lawyers Rising Stars
• ndiana Super Lawyers Rising Stars

Professional & Community Involvement

• American Pianists Association, Board of Directors
• Islamic Finance News, Contributor
• The Chicago Real Estate Private Equity Network, Member

Press Releases