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About Michael Simmons

msMichael Simmons helps clients structure complex financial transactions supporting innovative, public-private venture/asset management programs, focusing his efforts on project finance, loan and real estate privatization.

Mr. Simmons has served as counsel to the Department of Veterans Affairs (VA) privatization programs where he was the principal architect and author, within the Department's Office of General Counsel, of VA's "enhanced-use leasing" program. This innovative program takes under-utilized real estate under the department's control and privatizes it through leases, for terms of up to 75 years. In exchange, private entities provide monetary consideration, improved space or goods and services. Through Mr. Simmons' efforts, VA was able to secure significant private sector involvement and investment onto VA properties for the private development and operation of cogeneration facilities, housing, office buildings, child care centers, medical office and research facilities, parking garages and retail centers that serve both VA and local communities.

In addition, Mr. Simmons was responsible for developing and implementing a unique and innovative financing structure adopted by VA and other clients, where the entity retains considerable involvement with the privatized activity. He structured all complex financial transactions, such as financing the projects through public bond offerings, traditional construction and take-out lending.

Prior to his focus on real property privatization, Mr. Simmons managed all legal aspects associated with the VA's loan asset privatization program through the securitization of mortgage loans owned by VA. For as many as 30,000 loans annually -- with total principal balances of approximately $2 billion -- Mr. Simmons structured VA's legal position through his participation in the drafting of all transaction documents, including loan sale agreements, pooling and servicing agreements and underwriting agreements. In total, Mr. Simmons has handled transactions involving 33 sales, with the disposal of over 300,000 loans and principal balances in excess of $22 billion.

Mr. Simmons was also involved in the acquisition, rehabilitation, redevelopment and associated financing of a United States memorial building located in Paris, France, currently operating as a 4-star hotel in Paris.

Since leaving VA Mr. Simmons has played a pivotal role in structuring over $500 million of private investment in federal facilities and properties. In addition to VA projects, current enhanced lease/public-private venture initiatives include efforts at the Department of the Army, the Department of Energy, and the National Aeronautics and Space Administration facilities and installations. Together with his partner and colleague, Tony Kushnir, these two attorneys have been involved in more undertakings and have completed more enhanced-use leasing/privatization transactions than most other attorneys.

Michael Simmons

   Partner
   msimmons@simmonskushnir.com


Practice Areas

   Asset Securitization
   Privatization
   Project Finance
   Real Estate


Education

   University of Baltimore, J.D., 1974
   University of Maryland, B.A., 1966


Bar Admissions

   District of Columbia
   Maryland


Languages

   French

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