Siobhan M. O'Donnell

Siobhan M. O'Donnell is Team Leader of the CMBS Loan Origination Team and she focuses her practice on commercial real estate finance. She represents investment banks, commercial banks, specialty finance companies, and institutional lenders, as well as real estate developers and owners, in a variety of real estate financing transactions. Siobhan represents clients in permanent and bridge loan origination, CMBS conduit loans, construction loans, preferred equity transactions, mezzanine loans, and other subordinate financing structures. She also has significant experience in other aspects of real estate transactions, including leasing and acquisitions and dispositions of real estate.

Representative Matters

• Representation of a national finance company in its balance sheet, bridge lending program, including the following representative transactions:
  
  • The origination of a $21.7 million bridge mortgage loan secured by a near vacant office building in suburban Maryland intended to reposition to a medical office and services building during the term of the bridge loan. The transaction also included complicated zoning and impact issues.
  • The origination of numerous multifamily rental and seniors’ housing mortgage loans, often including extensive structuring for future advances and capital improvements programs.
  • The origination of a $78 million mortgage loan secured by a multifamily rental project in Long Island City, New York, structured with a senior A note and subordinate B note, with the client holding the subordinate B note. The representation included the drafting and negotiation of an A/B participation agreement and mortgage loan servicing agreement. The origination occurred mid construction and as a result, the transaction involved complicated structuring of the loan to protect the lenders under New York’s lien law.
  • The origination of a $19 million loan, secured by a defaulted $32.3 million construction loan note, which note was secured by a mortgage on a multifamily project located in Las Vegas, Nevada, the debtor under which was in bankruptcy proceedings. This representation included careful structuring to provide for the client’s approval of any bankruptcy plan approved by the court.
• Representation of a commercial bank in the origination of a $55.5 million senior mortgage loan secured by an office park located in Florham Park, New Jersey. This transaction involved the simultaneous origination of a $10 million mezzanine loan by a different commercial bank. The representation included the drafting and negotiation of an intercreditor agreement.
• Representation of a real estate developer in connection with a $40.5 million Fannie Mae mortgage loan secured by a multifamily project in Glen Mills, Pennsylvania.
• Representation of an investment bank in the origination of numerous CMBS conduit loans secured by real estate of various types and located across the country, including a $19 million mortgage loan secured by a mixed use office and shopping center located in Plano, Texas. This transaction involved a complicated declaration of covenants and easements and the negotiation of an estoppel and agreement with the owners' association.
• Representation of a national finance company in a cross collateralized and cross defaulted $112 million bridge loan financing transaction, secured by seven properties located in Texas, and subsequent transfer of the loans to the client’s repurchase facility line. The representation also included the documentation of a $3 million mezzanine loan, secured by a pledge of the membership interests in each of the mortgage loan borrowers.

Professional Activities

Ballard Spahr's Diversity and Inclusion Council

Ballard Spahr Hiring Committee

Co-Chair, Ballard Spahr Summer Associate Program, 2013-2014

Speaking Engagements

Moderator, "Views on Construction Lending: Owners vs. Lenders," Commercial Observer, Spring Financing Commercial Real Estate Forum, June 4, 2019

Faculty, “Dangerous Liaisons or Elective Affinities – Subordination, Non-Disturbance and Attornment Agreements,” Pennsylvania Bar Institute, Annual Real Estate Institute, December 4, 2014

Temple University James E. Beasley School of Law (J.D. 2006)
Member, Temple Law Review

Temple University (B.A. 2003)

Pennsylvania

California