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Michael J. Waters

Michael J. Waters

Real Estate Department
Location:
New York, New York
Phone:
(212) 909-9626
Fax:
(212) 909-9460
Email:
Michael J. Waters has broad-based experience in commercial real estate matters and has structured and closed numerous sophisticated real estate acquisitions, sales, triple-net ground leases, financings, joint ventures and retail and office leases involving all property types, including luxury multi-family, mixed-use, office, retail and hotel assets. He counsels owners, developers, tenants, institutional investors and lenders on all aspects of their real estate business. Having worked extensively with distressed commercial real property assets, he has represented parties from the perspective of both the owner and the lender. Michael has negotiated complex debt restructurings and workouts of senior and mezzanine loans and equity investments, as well as the acquisition and disposition of distressed loans and real estate assets. Of particular note, Michael has lectured and written on the topics of intercreditor and participation agreements and the complex inter-lender issues arising in distressed real estate projects.

Bar Admissions

  • New York
  • Connecticut

Education

  • Fordham University School of Law, New York, New York
    • J.D. - 1987
  • Georgetown University
    • B.S. cum laude - 1984

Published Works

  • Gaining Control of Collateralized Mortgage-Backed Securities Pools, Institutional Investor, December, 2009
  • Purchasing Loan Participations: The Devil is in the Details, The Real Estate Finance Journal, Winter, 2008
  • Mezzanine Loans and the Intercreditor Agreement: Not Etched in Stone, Real Estate Finance Journal, Spring, 2007

Representative Cases

  • Development of a SoHo retail property, including $275 million financing
  • Sale of a midtown Manhattan development site for $320 million
  • Acquisition and financing of sponsor units in a luxury Manhattan condominium for $112 million
  • Acquisition and financing of various rent regulated luxury Manhattan multi-family buildings
  • Acquisition of a 1,400 unit Bronx residential complex
  • Acquisition and financing of a Manhattan hotel for $217 million
  • Acquisition, financing and redevelopment of a Washington, DC hotel for $52 million
  • Sale and restructuring of a $400 million Manhattan retail mall/office building
  • Workout of a $180 million construction loan on a luxury resort on behalf of the B-note holder
  • Resolution of litigation regarding a construction lender’s failure to fully fund a $300 million loan for expansion of a retail mall in central New York
  • Advised securitized mortgage borrowers and lenders in the restructuring and enforcement of mortgage and mezzanine loans

Classes/Seminars

  • Commercial Real Estate Financing 2012: Getting Back to Business (January 2012) "Junior/Senior Participations and Intercreditor Agreements Under Fire", Practising Law Institute
  • "Real Estate Mezzanine and A/B Loans: Structuring and Enforcing Intercreditor and B Note Agreements" (September 2015), Strafford Publications, Inc.
  • "Junior/Senior Participations and Intercreditor Agreements Under Fire", Practising Law Institute

Professional Associations and Memberships

  • Association of the Bar of the City of New York, Member
  • Georgetown University Real Estate Alliance, Co-Founder

Past Employment Positions

  • Dickstein Shapiro LLP, Counsel
  • Dreier LLP, Partner
  • Hogan & Hartson LLP, Associate
Offices

Wachtel Missry LLP
One Dag Hammarskjold Plaza
885 Second Avenue
47th Floor
New York, NY 10017
Tel: (212) 909-9500
Fax: (212) 371-0320
Map and Directions

Hudson Valley Office
321 Wall Street
Kingston, NY 12401
Tel: (845) 331-3373
Fax: (845) 331-3393
Map and Directions

California Office:
2030 Main Street
Suite 1200
Irvine, CA 92614
Tel: (949) 660-8824
Fax: (212) 909-9511
Map and Directions