Steven M. Regan

T 412.513.4330
F 412.513.4299
501 Grant Street
Union Trust Building, Suite 800
Pittsburgh, Pennsylvania 15219

Steve is a member of Frost Brown Todd’s Finance and Real Estate practice group. He has extensive experience in structuring, negotiating and closing all manner of real estate and finance transactions. Steve embraces the unique challenges each transaction presents and is not satisfied until the client’s objectives are met in an efficient and cost-effective manner.

Steve has worked extensively with senior secured lenders, subordinate lenders, mezzanine lenders, and borrowers in real estate and other acquisition, development and construction loans, refinances, subordinate and mezzanine loans, loan modifications and intercreditor agreements. His work also includes counseling lenders and borrowers in connection with loan defaults, loan modifications, workouts and forbearance agreements. He has counseled corporate clients in connection with owned and leased real estate assets and portfolios negotiating countless acquisitions, dispositions and leases for office, warehouse, industrial, self-storage and other properties. Steve frequently represents real estate investors and developers in preferred equity transactions, sale and leasebacks and joint ventures as well as real estate development projects.

Steve is a licensed Pennsylvania title insurance agent and is the responsible agent in the state for Multi-State Title Agency LLC, Frost Brown Todd’s title insurance agency.

Recent representative transactions:

Real Estate Finance

  • Negotiated and closed a $166 million construction loan for a condominium and hotel project in Brooklyn, New York.
  • Represented a foreign lender in connection with a $91 million bridge loan and follow-on $165 million construction loan for a luxury condominium project in Miami Beach, Florida.
  • Represented First Niagara Bank in connection with a $41.7 million construction loan for a 300-unit apartment project in suburban Pittsburgh, Pennsylvania. The loan was fully participated at closing with two participant lenders.

Real Estate Investments

  • Advised a real estate investment client as to fund structuring, choice of entity and entity formation, preparation of the limited liability company agreements for investor and managing members, subscription agreement, and an asset management agreement. Represented the same client in connection with all aspects of its first real estate asset acquisition.
  • Advised a corporate client in connection with the sale and leaseback of the client’s manufacturing facility in Reno, Nevada. He negotiated the $5.5 million purchase agreement and drafted and negotiated the lease prior to execution of the purchase agreement.

Loan Workouts, Restructures and Forbearances

Steve has extensive experience representing lenders in connection with loan workouts, restructures and forbearances. His recent experience includes:

  • Represented Blackrock, the servicer of a $49.6 million mortgage secured by Pittsburgh's largest hotel. Steve negotiated and closed two loan modifications, the second of which was done in the context of the borrower's Chapter 11 bankruptcy.
  • Advised Dollar Bank in respect of a forbearance and completion loan for an $8 million development loan. Negotiated and closed the forbearance agreement, super-priority completion loan documents and new lot purchase documents, successfully resolving intercreditor, environmental and lot purchase issues.

In addition to his work representing clients, Steve frequently lectures on various real estate matters including commercial leasing, title insurance and mortgage lending, and underwriting, due diligence and loan documentation issues arising out of oil and gas leasing. Most recently, he lectured on Basel III’s high volatility commercial real estate regulations.

Memberships & Affiliations

  • Allegheny County Bar Association
  • Pennsylvania Bar Association
  • American Bar Association
  • Association for Corporate Growth
  • Pennsylvania Land Title Association
  • Bethel Park Zoning Hearing Board
  • Pennsylvania Association of Notaries

FBT Publications

Other Contact Info


Mary Sue Hojdila
T 412.513.4262