Paul Franke brings 25 years of sophisticated real estate transactional and commercial finance experience to every matter he handles for his clients. In his varied practice, he serves owners and developers of commercial real estate, affordable housing, and financial institutions.

Paul truly enjoys his work. He finds structuring deals to be intellectually stimulating and rewarding. His most challenging deals are in the affordable housing arena, which often involve multiple ownership structures and several layers of debt financing.

Paul has represented clients involved in some of the highest profile Denver-based estate developments in recent years, including the Denver Metropolitan Major League Baseball Stadium District, the owner of Coors Field, The Castle Rock Factory Outlets in Castle Rock, Colo., and The Landmark, a 250-unit luxury residential and mixed-used real estate development in Greenwood Village, Colo.

Paul represents banks and other financial institutions in the documentation and closing of commercial real estate loans and asset-based financings, including equipment leasing and accounts receivable and inventory financing. He also counsels receivers, buyers, and sellers of real estate loan portfolios, loan participants, and lead banks, as well as servicers of syndicated lending arrangements and structured financings.

He has documented and closed approximately 200 fractional interest aircraft lease and loan transactions in the Netjets fractional share corporate jet ownership program.

  • Ongoing representation of a county and its housing authority in the joint-venture ground lease development and financing of a senior assisted living and continuum of care housing project.
  • Worked with a national multifamily housing developer to reposition its portfolio of LIHTC (low income housing tax credit) projects for sale or refinancing.
  • Represented a venture capital fund in structuring and closing the sale of a 150-lot subdivision to a Denver-based homebuilder in which the fund is also providing a master construction loan facility to the builder.
  • Ongoing representation of a large Colorado based nonprofit hospital organization in the drafting and negotiation of construction and design contracts for its multi-campus hospital system.
  • Assisted nonprofit housing clients in altering their legal structure to take advantage of state property tax exemption rules.
  • Represented a Midwest-based life insurance company on a defaulted $5 million real restate loan, bankruptcy, and foreclosure of a commercial retail shopping center.
  • Represented a closely held real estate business in the out-of-state acquisition of a retail power center and assumption of existing commercial mortgage-backed securities (CMBS) financing for the center.
  • Represented the developer, and later receiver, of The Landmark, a 250-unit $180 million mixed-use residential and retail development in Greenwood Village, Colo. Work involved preliminary platting and subdivision of the project, condominium and master association formation, sales of commercial condominium units and pad sites, and management of construction defect claims.
  • Ongoing representation for the owner of a 120-acre development project in Greeley, Colo., involving development and sale of tracts and lots to national retail users.
  • Represented national hospital chain in documenting and closing the purchase of vacant land for development and construction of $10 million workforce housing rental project in Williston, N.D.
  • Represented the owner of a Denver Class A office building in the negotiation, documentation, and closing of a $6.3 million life company loan.
  • Represented the owner of a 120,000-square-foot warehouse in the negotiation, documentation, and closing of a $4 million life company loan.
  • Represented physician groups in formation of a limited liability company with medical office building developer for development, construction, leasing, and financing of 80,000-square-foot medical office building at new hospital campus in Grand Junction, Colo.
  • Represented a national equipment finance company and outside vendor to NetJets fractional interest aircraft ownership program in the negotiation, documentation, and closing of approximately 200 aircraft loans and leases to NetJet customers.
  • Represented an owner in the sale of a 200-unit low-income housing rental project with Section 8 Housing Assistance Payment subsidy.
  • Represented the developer of two projects (6320 Corp and LIHTC) totaling 244 units of affordable housing in Eagle County, Colo.
text icon Publications & Presentations
A Primer on Construction, Permanent and Bridge Lending in Financing the Affordable Housing Deal
ABA Journal of Affordable Housing and Community Development Law
Spring 1998 and Winter 2000
text icon Publications & Presentations
  • Housing and Finance Related
    • Federal Low Income Housing Tax Credit Program Construction
    • Permanent and Mezzanine Financing Construction
    • Architect's Agreements
    • Commercial Guaranties
  • Real Estate Development
  • Employment
    • Searches and Seizures
    • Defamation in the Employment Context
    • COBRA
  • Various Bankruptcy-related Topics