Timothy J. Reimers

Whether closing an acquisition of large real estate portfolios, financing sophisticated projects or providing legal counsel on day-to-day operations, Tim Reimers strives to provide clients with the highest possible level of legal advice. Clients rely on the focused service and zealous representation Tim brings to project, infrastructure and health care finance. As a team leader in Polsinelli’s finance and real estate practices, he helps clients acquire, develop and finance their operations, real estate and other capital resources. Tim’s experience and reputation is built on innovative work in a wide range of projects.

Tim has experience assisting hospitals and healthcare systems, airports, ports, utility districts, cities, counties, schools, high-speed rail, the State of California and various agencies, as well as investors, acquire, manage and develop their real estate assets, raise capital and finance projects. Tim has extensive experience in real estate transactional matters, including:

• Complex financings on behalf of lenders and borrowers
• Acquisitions and dispositions 
• Leasing (with an emphasis on health care leasing) 
• Loan restructuring and strategic solutions 

As a leader in Polsinelli’s public finance practice, Tim is recognized as a trusted securities and disclosure counsel, providing essential disclosure and due diligence counsel and assisting issuers, borrowers and underwriters to meet their securities obligations. With an eye toward anticipating risk and avoiding the pitfalls that often typify complex transactions, Tim leads training seminars on various topics, including securities and disclosure responsibilities and rules for SEC compliance intended for staff and attorneys, as well as opportunities for real estate lenders in the public finance markets. Tim is a member of Polsinelli’s Opinion Committee and its Professional Development Management and Leadership Committee.

Tim has led training seminars on various topics, including disclosure responsibilities and compliance with rules promulgated by the SEC for staff and attorneys on various issues of securities and opportunities for real estate lenders in the municipal markets. He has also prepared educational materials and spoken on municipal finance issues at educational seminars sponsored by:

• California Debt and Advisory Commission
• Airport Council International-North America
• Macias Gini & O'Connell
• The Bond Buyer's California Public Finance Conference
• State Treasurer's Office
• League of California Cities
• American Association of Port Authorities
• The British-American Business Council
• National Association of Minority and Women-Owned Law Firms
• Los Angeles County Bar Association Real Estate Conference
• Southern California Public Power Authority and other market participants

Tim has also been part of the advisory council for the Bond Buyer's California Public Finance Conferences and has also been a featured speaker at the Bond Buyer's California Public Finance Conference, where he spoke on disclosure and infrastructure finance.Much of Tim’s real estate practice centers on health care organizations. He is adept at addressing the complex regulatory issues facing the health care industry that intersect with real estate and finance transactions. 

Real Estate 

• Served as seller’s counsel in connection with the cross-border sale of a portfolio of distressed hospitals and hospital properties in Southern California.
• Assisted a large health care system in connection with the acquisition of a fully licensed, community-based, health center to provide affordable, primary medical care in Orange County, California.
• Assisted a large health care system in connection with the acquisition of a surgery center and medical office building on its hospital campus and requiring renegotiation of its reciprocal easement and parking arrangements in connection with its related facilities.
•  Assisted a large health care system with the development of a leading on-site wellness center program, including leasing, subleasing and coordination of related regulator matters.  
• Assisted a large California health care system in connection with the leasing of over one million square feet of hospital, medical office building and related healthcare space.  
• Assisted a large health care system in connection with strategic acquisition of hospital adjacent assemblage for further hospital development.  
• Seller’s counsel in connection with the disposition of a large airport adjacent hotel property.
• Represented an investor-owned utility in connection with the acquisition of environmentally sensitive land for the development of a substation and in connection with the sale of surplus property in connection with a significant retail development.
• Represented a large institutional property manager in dozens of leasing matters, including successfully negotiating a build-to-suit lease with a publicly traded biotech company for an approximately 320,000-square-foot industrial building in California.
• Negotiated acquisition of replacement rights-of-way from the State of California and a redevelopment agency of the City of Los Angeles; a multi-user access road Master Easement; street dedications; various infrastructure easements; and a post-closing cooperation agreement. Negotiated with the end users of the access road the terms of their easements to satisfy replacement property right requirements. Structured transactions to comply in connection with the California Surplus Land Statute. Prepared forms of purchase agreements for bulk sales of real property, together with forms of bidders’ instructions, disclaimers, deeds, bidders’ certificates and addenda for local professionals. Prepared reservation of rights letter forms for use by the Federal Deposit Insurance Corporation (FDIC) officers in connection with defaulted loans providing for partial re-conveyances, acceptance of payment or partial payment and provision for advances.

Real Estate Finance 

• Served as borrower’s counsel in connection with over $250,000,000 of financing and refinancing of prop-co and op-co loans for the acquisition, construction, development and operation of behavioral health and chemical dependency facilities in California, Arizona, Illinois and Texas.
• Served as borrower’s counsel in connection with over $1,000,000,000 of real estate secured and mezzanine financings.
• Served as lender’s counsel in connection with over $103,000,000 financing for the acquisition and strategic further development of a multi-property medical office building portfolio.
• Advised the Federal Deposit Insurance Corporation (FDIC) in connection with the securitization of mortgage loans and the re-securitization of interests in securitizations acquired from failed banks.
• Served as counsel to the FDIC in connection with its first structured loan sale targeted at small investors.
• Assisted a large health care system in connection with the syndication of various medical office building projects.  

Public Finance 

• Served Los Angeles World Airports as disclosure counsel and co-bond counsel in over $3 billion of bonds issued to finance capital projects, including construction of various elements of the Bradley West Terminal Project and construction of the Central Utility Plant Project.
• Assisted California Department of Veterans Affairs (Cal Vets) in developing its credit and served as an integral part of Cal Vet’s financing team for the creation and successful execution a new “double barreled” State of California General Obligation/Cal Vets credit.
• Developed a creative financing structure for a high speed rail borrower wherein the borrower’s joint venture guarantors also provide debt service reserve fund sureties, which were not otherwise available at reasonable rates, in support of the loan. The adoption of this structure permitted a stalled and otherwise economically unviable key component of the client’s financing program to proceed.
• Served as part of the Harbor Department of the City of Los Angeles’ financing team in connection with its highly publicized and successful formal tender solicitation transaction. This transaction received Bond Buyer Deal of the Year consideration. 
• Advised on 11 bond series for the San Francisco Airport Commission in excess of $1.1 billion, including six variable rate series, Build American Bonds, and a successful tender transaction.
• Served in a bond counsel role, as underwriters’ counsel and disclosure counsel in connection with over $20 billion State of California new money general obligation bonds and general obligation refunding bonds. Served as disclosure counsel and underwriters’ counsel in connection with over $500 million State Public Works Board lease revenue bonds, which benefited, among others, the Department of General Services, Department of Education, Department of Developmental Services, and the Trustees of the California State University.
• Represented a national bank in connection with the replacement of a letter of credit securing and providing liquidity for their borrower’s payments on industrial development bonds and re-collateralization of the credit facility and additional loans made under this lending relationship.
• Served in a bond counsel role in connection with the competitive issuance of over $700 million of Water Revenue Bonds by the San Francisco Public Utilities Commission (SFPUC) issued to finance, among other things, a portion of the design, acquisition, and construction of various capital projects in furtherance of SFPUC’s Water System Improvement Program.
• Served as bank counsel in connection with a loan to the Broad Beach Geological Hazard Abatement District for a project to repair Broad Beach located in Malibu, CA.