Jonathan Thalheimer advises clients ranging from individuals and small businesses to large, publicly traded corporations. Focusing in commercial real estate sales, acquisitions, and development, he also has expertise in structured finance, including portfolio and construction lending, CMBS, loan syndications, and interest rate derivatives.
As a manager at TCWM, Jonathan provides strategic guidance on financial structures and regulatory frameworks. Outside of his practice, he enjoys speaking at industry conferences and has served in leadership roles with various commercial real estate organizations.
Representative Experience
- Lenders and Borrowers in commercial portfolio and construction financing
- Lenders and Borrowers in mezzanine financing and inter-creditor agreements
- Lenders and Borrowers in interest rate caps, swaps, and derivative transactions
- Lenders in commercial aircraft financing
- Lenders under the EB-5 investor visa program of the Immigration and Nationality Act
- Lenders and Borrowers in commercial mortgage backed securities transactions
- National loan servicers in all aspects of loan servicing including work outs, modifications, transfers, assignments,
foreclosures, and litigation - Purchasers, sellers, and developers in all aspects of commercial real estate
- Lenders in collateralized debt obligation transactions
- Plaintiffs and defendants in real estate related litigation
- Administrative and collateral agents in loan syndication transactions, including:
- $32 billion energy company acquisition
- $5.5 billion international hotel credit facility
- $1.2 billion recapitalization transaction pursuant to a plan of arrangement under the CBCA
- $25 million secured revolving export finance facility to finance a Brazilian bank
- $425 million manufacturing facility, through a subsequent Delaware bankruptcy, credit bid, and asset purchase
Trustees in a variety of corporate and municipal bonds
Education
- Yale University, Bachelor of Arts, 1979. Graduated magna cum laude, with honors
- University of Virginia, Juris Doctor, 1982. Board of Directors of the University of Virginia Post Conviction Assistance Project
Court Admissions
- Supreme Court of Texas
- United States District Court for the Northern District of Texas
- United States Court of Appeals for the Fifth Circuit
Professional Memberships
- American Bar Association
- American College of Mortgage Attorneys Fellow (Former Member of the Board of Regents, former Texas State Chair and former Co-Chair of the Capital Markets Committee)
- American College of Real Estate Lawyers, Fellow (Former Chair of the Capital Markets & Real Estate Finance Committee)
- Dallas Bar Association
- State Bar of Texas
- Urban Land Institute
- William “Mac” Taylor, Jr. 112th American Inn of Court, Bencher Member
Honors & Distinctions
- Lawdragon 500 Leading Dealmakers in America, 2025
- American Bar Foundation, Fellow
- Rated AV Preeminent by LexisNexis Martindale-Hubbell
- Best Lawyers in Dallas, D Magazine
- Best Lawyers in America, Real Estate Law
- Dallas Bar Foundation, Fellow
- Legal Leaders/Top Rated Lawyers, ALM and Martindale-Hubbell
- Texas Bar Foundation, Life Fellow
- Texas Super Lawyers® (Thomson Reuters)
Elected to:
- American College of Mortgage Attorneys, Former Member of the Board of Regents
- American College of Real Estate Lawyers, Member of the Board of Governors
Speaking & Writing
- “Carving Up the Carveouts: What Can Be Enforced? And What’s Market?” – American College of Mortgage Attorney
- “Commercial Mortgage Backed Lending” – State Bar of Texas’ Advanced Real Estate Law Course
- “Commercial Mortgage Backed Securities 2013” – State Bar of Texas’ Advanced Real Estate Law Course
- “Conduit Mortgage Lending” – University of Texas’s School of Law’s William W. Gibson, Jr. Mortgage Lending Institute and the Dallas Area Real Estate Lawyers Discussion Group
- “Commercial Mortgage Backed Securities Headwinds and Tailwinds 2013-2014” – Dallas Area Real Estate Lawyers’ Discussion Group
- “Current Title Insurance Coverages and Rates in Commercial Mortgage Loan Transactions” -State Bar of Texas’ Advanced Real Estate Law Course
- “Dealing with Defeasance” – University of Texas’s School of Law’s William W. Gibson, Jr. Mortgage Lending Institute
- “Finance Market Impact on Real Estate” – State Bar of Texas’ Advanced Real Estate Strategies Course
- “High Volatility Commercial Real Estates Loans: New Federal Rules and the Impact on Loan Availability – University of Texas School of Law’s William W. Gibson, Jr. Mortgage Lending Institute and the Dallas Bar Association’s Real Property Section
- “How to Navigate the Rabbit Hole: The Journey of a CMBS Loan After It Closes”– American Bar Association Section of Real
- Property, Trust and Estate Law and the American College of Real Estate Lawyers, Joint Webinar
- “Intercreditor Agreements – The Giants Fight It Out”- State Bar of Texas’ Advanced Real Estate Drafting Course
- “Intercreditor Agreements: Junior vs. Senior Debt ” – University of Texas’s School of Law’s William W. Gibson, Jr. Mortgage Lending Institute
- “Lending What Does the Market Look Like” – State Bar of Texas’ Annual Advanced Real Estate Strategies Course
- “Regulatory Capital Treatment for High Volatility Commercial Real Estate Exposures” Letter on behalf of the Capital Markets
- Committees of ACREL and ACMA to the Office of the Comptroller of the Currency, the Board of Governors Federal Reserve System and the Federal Deposit Insurance Corporation
- “Let’s Not Get Burned by These Latest Hot Topics: Lessons to Learn about Delaware LLCs, LIBOR, and Loan Splits” – American College of Mortgage Attorneys
- “LIBOR Debacle and What Actions Should be taken Now on Commercial Real Estate Loans” State Bar of Texas’ Advanced Real Estate Law Course
- “LIBOR’s End: What CRE Lenders and Borrowers Need to Know (and Do) Now” American Bar Association Section of Real Property, Trust and Estate Law and the American College of Real Estate Lawyers, Joint Webinar
- “LIBOR Transition: Perspective and Recent Developments” University of Texas’ School of Law’s William W. Gibson, Jr. Mortgage Lending Institute
- “Mezzanine Financing” – State Bar of Texas’ Advanced Real Estate Law Course, University of Texas’ School of Law’s William W.Gibson, Jr. Mortgage Lending Institute and the Texas Land Title Association’s Advanced Closing Issues Seminar
- “Negotiation and Documentation of Commercial Real Estate Construction Loans” – State Bar of Texas’ Advanced Real Estate Strategies Course
- “Negotiating Carveouts to Loan Non-Recourse Provisions (Lender’s and Borrower’s Perspective)”- SMU School of Law’s Real Estate Law: Transactions In-Depth seminar
- “Negotiating Intercreditor Agreements” – University of Texas’s School of Law’s William W. Gibson, Jr. Mortgage Lending Institute
- “Opening Statements” -Moderator of the William “Mac” Taylor, Jr. 112th American Inn of Court
- “A Primer on Platting and Zoning”- SMU School of Law’s Real Estate Law: Transactions In-Depth seminar
- “Property Management and Leasing Agreements”- SMU School of Law’s Real Estate Law: Transactions In-Depth seminar
- “Recourse Carve- Out Liability: Only for Bad Boys?” – University of Texas’s School of Law’s William W. Gibson, Jr. Mortgage Lending Institute
- “Selected Issues in Loan Documentation” – State Bar of Texas’ Advanced Real Estate Drafting Course
- “Show Me the Money: The End of Libor” -State Bar of Texas’ Advanced Real Estate Law Course
- “Tenant Remedies when Landlord Defaults or in Other Actionable Circumstances”- SMU School of Law’s Real Estate Law: Transactions In-Depth seminar
- The End of LIBOR and the Beginning of the SOFR Era – State Bar of Texas’ Advanced Real Estate Law Course
- “Title Insurance –What’s Not Covered- What is Covered Solutions” – Texas Land Title Association
- “You Can’t Always Get What You Want (Loan Documents need a LIBOR alternate rate mechanism)” – ACREL Notes
- “You Have a CMBS Loan, Now What” Moderator of a panel presentation and roundtable discussion at the 40th Anniversary Annual ACREL meeting in New Orleans
