Rachel S. Bates


Rachel S. Bates is a commercial real estate and transactional attorney with experience covering a broad range of real estate and finance matters. Her experience includes commercial real estate acquisitions, dispositions and financing transactions including corporate entity formation, sales, transfers and mergers. Rachel represents lenders, investors and developers in commercial real estate transactions across the country. Her matters focus mainly on multifamily and commercial real estate finance and real estate development.

Rachel also manages and facilitates real estate due diligence and closing, drafting loan modifications, assumptions of mortgage loans, easements, reciprocal use agreements, and license agreements. She works with parties involved in condemnation/eminent domain actions, foreclosures, and other real estate related matters.


Representative Matters

  • Representation of Lender in over 100 Fannie Mae financing transactions all over the country ensuring compliance with agency guidelines before and after closing.
  • Representation of Borrowers for full HUD Transfer of Physical Assets (TPA) involving the assumptions of multimillion dollar HUD-insured loans.
  • Preparation of documentation required for the refinancing of quick service (QSR) restaurant portfolios for various QSR franchisees.
  • Representation of a national finance company in its balance sheet and bridge lending program, including numerous multifamily housing mortgage loans with extensive structuring for future agency funding and capital improvements.

Professional Highlights

Pro Bono Experience

Rachel’s pro bono work includes working with Volunteer Lawyers Network assisting clients in need of legal support for their housing matters and LegalCORPS working with clients on their small business and real estate matters.

Professional Activities

Minnesota State Bar

American Bar Association

Minnesota Women Lawyers

Commercial Real Estate Finance Council (CREFC)

Minnesota Commercial Real Estate Women (MNCREW)

Recognition & Accomplishments

The Best Lawyers in America, “Ones to Watch” – Banking and Finance Law, Real Estate Law (Minneapolis), 2024

Board Memberships & Community Service

Certified Student Attorney, Central Minnesota Legal Services, January 2015-May 2015

High School Mock Trial Judge

Past Pause4Paws Board Member



William Mitchell College of Law (J.D. 2015)
William Mitchell Merit Scholarship Recipient

University of Minnesota-Twin Cities (B.A. 2011)
Dean’s List