Photo of Derek L. Cottier

Derek L. Cottier Senior Counsel

Areas of Practice

Industries

Bar Admissions

  • Illinois, 1987

Education

University of Michigan, J.D., cum laude

  • Order of the Coif

St. Lawrence University, B.A., magna cum laude

  • Phi Beta Kappa

Derek L. Cottier is a senior counsel in Dykema’s Real Estate Department, concentrating in real estate finance. Mr. Cottier is a former member of the firm's Executive Board and a former Office Managing Member for the Chicago office. Mr. Cottier served as law clerk to the Honorable Ilana D. Rovner, U.S. District Court, Northern District of Illinois, from 1985 to 1987.

Experience

Mr. Cottier has extensive experience in diverse areas of real estate finance, including conventional mortgage financing, affordable housing and community development financing, mezzanine financing and bond financing. Representative lending transactions include:

  • multiple loans for a mixed use project in Chicago combining Low Income Housing Tax Credits and New Markets Tax Credits for the development of approximately 54,000 square feet of retail space and 96 units of rental housing. Lender financing for the residential project included the purchase of private placement tax-exempt bonds, a corresponding construction loan, a permanent loan, and a tax increment financing loan. Lender financing for the commercial project included a loan to the sponsor / leverage lender; a tax increment financing permanent loan to the sponsor / leverage lender, and a tax increment financing bridge loan to the sponsor / leverage lender. Other financing for the residential project included Low Income Housing Tax Credits; a Chicago Housing Authority loan; a loan utilizing federal NSP2 funds; a loan utilizing Illinois Affordable Housing Tax Credits; and a State of Illinois grant. Other financing for the commercial project included New Markets Tax Credits and construction/permanent financing utilizing New Markets qualified equity investment funds.
  • construction loan for the redevelopment of a historic downtown Detroit office building as a mixed-use project with 5 floors of commercial space and 8 floors, totaling 56 units, of market-rate rental housing. Other project financing included Federal Historic Tax Credits, New Markets Tax Credits and Michigan State Historic and Brownfield Tax Credits; construction/permanent financing utilizing New Markets qualified equity investment funds; three permanent loans from governmental and private sources and an assumed loan from a governmental source.
  • purchase of private placement tax-exempt bonds and a corresponding construction loan for site acquisition and construction of 114 units of affordable rental housing in Denver, Colorado. Other project financing included a project-based HUD Section 8 contract; loans from the State of Colorado Department of Local Affairs, the Colorado Brownfield Revolving Loan Fund and the City of Denver; Federal Energy Investment Tax Credits; Low Income Housing Tax Credits; and a permanent loan.
  • purchase of private placement tax-exempt bonds and corresponding construction bridge loan, secured by a pledge of all partnership interests of the borrower, for purchase and renovation of 210 units of affordable rental housing in Chicago. Other project financing included Low Income Housing Tax Credits and Historic Tax Credits; HUD-insured Section 221(d)(4) first mortgage loan; Illinois Housing Development Authority loan; sponsor bridge and construction financing; a project-based HUD Section 8 Contract; and a State of Illinois grant.
  • multiple loans for a mixed use project combining Low Income Housing Tax Credits and New Markets Tax Credits for the development of 2 floors of medical office space and 4 floors, totaling 48 units, of affordable rental housing, in Chicago. Lender financing for the residential project included a construction loan. Lender financing for the commercial New Markets tax credit project included a construction loan and a tax increment financing loan. Other financing for the residential project included Low Income Housing Tax Credits; Illinois Affordable Housing Tax Credits; a Chicago Housing Authority HOPE VI loan; an Affordable Housing Program loan, and a State of Illinois grant. Other financing for the commercial project included New Markets Tax Credits; construction/permanent financing utilizing New Markets qualified equity investment funds; and a Chicago Housing Authority loan.

Community/Civic Activities

  • City of Evanston Preservation Commission, Former Member and Chairman

Recognized in Illinois SuperLawyers® for Real Estate, 2011-2015, 2018

Recognized in Law & Politics as an Illinois Super Lawyer for Real Estate, 2007-2010

Named an Illinois Leading Lawyer in the area of Real Estate: Commercial and Real Estate: Finance by the Leading Lawyers Network, 2009-2017, Law Bulletin Publishing Company

Recognized in The Best Lawyers in America© for Real Estate Law, 2013-Present. Copyright 2015 by Woodward/White, Inc., Aiken, SC