Cases
Representative Matters: Represented Vidalia Industrial Facilities LLC in connection with its $11 million of federal
state New Markets Tax Credit allocations to be used for the expansion of its existing denim-spinning mill in Vidalia, Louisiana.
Represented the Community Loan Fund of New Jersey, Inc. in the deployment of Federal New Markets Allocation in connection with the $95 million redevelopment of the historic Hinchliffe Stadium in Paterson, New Jersey
the iconic stadium will be reopened with the addition of a museum, restaurant
affordable housing.
Represented Flagstar Bank in a $23.8 million investment, consisting of a construction loan to Magnus Capital to develop an affordable housing project
a low-income housing tax credit fund sponsored by Berkadia Housing Partnership to provide tax credit equity for the project.
Represented Delaware Technology Park, Inc. (DTP) in connection with its development of a 100,000 square foot office
classroom tower on the Star Campus of the University of Delaware, part of which will be leased to the University for its new business school
the $42 million capital stack included financing by Discover Bank, a New Markets Tax Credit allocation by Cinnaire Community Development Corporation,
a tax credit investment by U.S. Bank.
Represented the Community Loan Fund of New Jersey, Inc. in the deployment of $8,000,000 of Federal New Markets Allocation to Hospital Central Services Cooperative, Inc. for the development of a vacant building in Camden, New Jersey into a commercial hospital laundry facility.
Represented the Community Loan Fund of New Jersey, Inc. in the deployment of $10.5 million of Federal New Markets Allocation to Newark Makerhoods Urban Renewal, LLC for the rehabilitation of the Kruger-Scott Mission in Newark, New Jersey into incubator space
the new construction of market
affordable housing above first floor commercial space.
Represented the Community Loan Fund of New Jersey, Inc. in the deployment of $10.5 million in Federal New Markets Allocation to Complete Care for the development of a federally qualified health center in Bridgeton, New Jersey.
Represented an Opportunity Fund in formation
private placement offering in connection with the development of a 127 unit apartment complex in Vancouver, Washington.
Represented Lovett Commercial, a Houston-based commercial real estate developer, in its New Markets Tax Credit financing of the $150 million historic renovation of the former Houston Post Office Building, a mixed-use development to house a Live Nation music venue, retail
makers' spaces
rooftop urban farm.
Representation of Vidalia Industrial Facilities, LLC in the closing of $19,450,000 of Federal New Markets Tax Credit authority in connection with $30,000,000 of USDA
SBA financing for the development of a Denim spinning mill in Vidalia, Louisiana.
Represented Sterling National Bank in a $12,024,766 construction
permanent loan to 1815 West Farms Associates, LP for the development of an 81 unit affordable housing project in the Bronx, NY. The Bank also invested in the Federal low income housing tax credits generated by the development.
Represented Lovett Commercial, a Houston-based commercial real estate developer, in the closing of Phase 2 of financing which consisted of $11.8 million in New Markets Tax Credit financing, a $25 million bridge loan from Cedar Rapids Bank & Trust,
a $40 million opportunity fund investment for the $150 million historic renovation of the former Houston Post Office Building, a mixed-use development to house a music venue, retail spaces
rooftop urban farm.
Represented Lovett Commercial LLC in a $25 million federal historic tax credit investment, made by made by the National Community Investment Corporation, for the renovation of a Houston post office building into a commercial space including a music venue
an urban farm.
Represented Sterling National Bank in its $7.9 million construction loan to 1400 Dauphin Associations, LLC, for the development of an affordable housing project in Philadelphia
the capital stack included 9% federal low income housing tax credit equity provided by R4
subordinate financing provided by the Pennsylvania Housing Finance Agency
the Philadelphia Redevelopment Authority.
Represented Human Solutions, Inc., a major provider of housing, utility assistance
job training for Portl
, Oregon's low income community, in a transaction involving three types of capital structures, Federal New Markets Tax Credit equity, Low-Income Housing Tax Credit equity,
Tax-Exempt Bond financing, to develop a $40 million mixed-use project in Portl
, to include Human Solutions' new headquarters, affordable housing
a retail complex.
Represented BakerRipley (formerly Neighborhood Centers, Inc.) in connection with the development of a Community Center in Houston, Texas through the Federal New Markets Tax Credit program with JPMorgan Chase, the Low Income Investment Fund,
Raza Development Fund, Inc. providing New Markets Tax Credit allocation
JPMorgan Chase investing in the tax credits.
Represented Gr
point Bank in its $20 million investment in a federal low-income housing tax credit sponsored by US bank.
Represented Philadelphia Chinatown Development Corporation in the closing of l
, financing, private equity, EB-5 financing,
tax credit equity for the construction of the $70,000,000 Eastern Tower Project in Philadelphia which will consist of apartments, office
retail space,
a community center.
Represented Community Loan Fund of New Jersey, Inc. in connection with the deployment of Federal New Markets Tax Credit allocation for the development of an office building for the headquarters of Audible, Inc. in Newark, New Jersey.
Represented Community Loan Fund of New Jersey, Inc. in connection with the deployment of $6,750,000 of Federal New Markets Tax Credit allocation for the development of an Arts
Innovation Center which will provide 20,000 square feet of educational, training, retail
entrepreneurial space for the Cumberl
County Community College located in Millville, New Jersey.
Represented Sterling National Bank in a $11,560,000 construction loan to the Johnson
Miller Limited Partnership for the development of an affordable housing project in Newburgh, New York.
Represented EB Realty Management Corporation in connection with the syndication of $10 million in Federal Historic Tax Credits, generated by the historic rehabilitation of the Divine Lorraine Hotel, one of the most iconic buildings in Philadelphia.
Represented Community First Fund in the deployment of $8,000,000 of Federal New Markets Tax Credit Allocation
the funding of a subordinate leverage loan to Zamagias Properties for the development of a mixed use project in the Bulova Building located in Lancaster, Pennsylvania.
Representation of EB Realty in the closing direct
leverage commercial financing, historic tax credit bridge financing, New Markets Tax Credit equity
Historic Tax Credit equity for the historic renovation of the iconic Philadelphia Metropolitan Opera House into a concert venue leased to Live Nation
deal honored by Philadelphia Business Journal as Best Real Estate Deal of 2018.
Representation of Community Loan Fund of New Jersey, Inc. in the deployment of its Federal New Markets Tax Credit allocation for the development of state-of-the-art food processing facility in Bridgeton New Jersey.
Representation of Community Loan Fund of New Jersey, Inc. in the deployment of its Federal New Markets Tax Credit allocation for the development of an urban farm in Newark, New Jersey.
Represented Community Loan Fund of New Jersey, Inc. in the deployment of $8,000,000 of Federal New Markets Tax Credit to fund a portion of the development of a $80,000,000 mixed use project in Newark, New Jersey by L
M Development, Inc.
Representation of Community Loan Fund of New Jersey, Inc. in the deployment of its Federal New Markets Tax Credit allocation for the development of the New Brunswick Performing Arts Center.
Representation of Community Loan Fund of New Jersey, Inc. in the deployment of its Federal New Markets Tax Credit allocation for development of 197,000 square feet of light manufacturing space in Kearny, New Jersey.
Representation of Community Loan Fund of New Jersey, Inc. in the deployment of its Federal New Markets Tax Credit allocation for historic renovation of the Peoples Bank building in Paterson, NJ.
Represented the Community First Fund in the deployment of Federal New Markets Tax Allocation to Royal Square Development Corporation for the historic rehabilitation of mixed use buildings in York, Pennsylvania. The project combined Federal New Markets Tax Credits
Federal Historic Tax Credits.
Represented the Community Loan Fund of New Jersey, Inc. in connection with its deployment of Federal New Markets Tax Credit allocation to Uncommon Schools for the development of its $70,000,000 North Star Academy in Newark, New Jersey. The capital stack of the transaction included State operating subsidies, grants
QSCB bond financing.
Represented the Community Loan Fund of New Jersey in the extension of a $6,298,346 loan to Roseville Avenue Redevelopment Urban Renewal LLC to bridge New Jersey Economic Redevelopment Growth (ERG) state tax credits awarded for the rehabilitation of the Brunswick Estates apartments in Jersey City, New Jersey.
Represented the New Castle School of Trades in the development of a trade school in East Liverpool, Ohio through the use of Federal
Ohio State New Markets Tax Credits
Federal
Ohio State Historic Tax Credits. PNC Bank was the investor in the Federal
Ohio State New Markets Tax Credits
the Federal
Ohio State Historic Tax credits.
Representation of Community Loan Fund of New Jersey, Inc. in connection with the deployment of Federal New Markets Tax Credit allocation for the $174 million restoration of the Hahne's Department Store building in Newark, New Jersey into 160 mixed-income housing units, 75,000 square feet of street-level retail space
a new arts
cultural center for Rutgers University. The retail portion includes a 30,000-square-foot Whole Foods.
Representation of Pier A Battery Park Associates LLC, a joint venture between The Dermot Company
Harry's Cafe
Steak House, in the use of Federal Historic Tax Credits to rehabilitate
convert Pier A in lower Manhattan to the Pier A Harbor House Restaurant.
Representation of E Smith Realty Partners, the real estate development company of Emmitt Smith, in the development of a mixed use project in Harlem New York through the use of the Federal New Markets Tax Credit Program.
Represented Federation Housing, Inc. in connection with the rehabilitation of the Arbor, Shalom,
Saligman apartment complexes through the use of $40,000,000 of tax-exempt bonds
$20,000,000 of 4% Federal low-income housing tax credit equity.
Represented Parke Bank in connection with its investment the Federal historic tax credits to be generated by the historic rehabilitation of in 1831-33 Chestnut Street, Philadelphia, Pennsylvania.
Represented The Salvation Army in connection with the development of Phase 2 of the Camden Kroc Corps Community Center in Camden, New Jersey with the use of Federal New Markets Tax Credits.
Represented Community Loan Fund of New Jersey, Inc. in connection with the deployment of Federal New Markets Tax Credit allocation for the development of Phase B of the Teachers Village mixed use project in Newark, New Jersey.
Represented Community First Fund in its deployment of Federal New Markets Tax Credit allocation for the development of a bilingual technology training center in Lancaster Pennsylvania by SACA Development Corporation.
Represented The Salvation Army in the development of the Camden Ray & Joan Kroc Corps Community Center through the use of the Federal New Markets Tax Credit Program.
Represented the Community Loan Fund of New Jersey, Inc. in connection with the deployment of its Federal New Markets Tax Credit allocation for the development of a $70 million call center
office complex for Cablevision in Newark, New Jersey.
Represented Community First Fund of Lancaster in the first deployment of its $15,000,000 award of New Markets Tax Credit Authority by the Treasury for the development of a Charter School in York, Pennsylvania.
Represented Federation Housing, Inc. in connection with the $36,000,000 acquisition
rehabilitation of the Samuel Tabas Apartments in Philadelphia through the use of tax-exempt bonds
Federal low-income housing tax credits.
Represented Zagis USA, LLC in the closing of a $7,760,000 Federal New Markets Tax Credit facility for the expansion of a cotton spinning facility in Louisiana. The financing qualified under the Federal New Markets Tax Credit targeted population regulations
was structured by Advantage Capital Partners.
Represented the Community Loan Fund of New Jersey, Inc. in connection with the deployment of its Federal New Markets Tax Credit authority for the $27,000,000 development of Phase II of the Newark Farmer's Market, a food warehouse
market facility in Newark, New Jersey.
Represented CI 6E Lancaster Avenue Associates LP in the syndication of Federal Historic Tax Credit equity generated by the client's $40,000,000 historic renovation of the Palmer Seminary in Wynnewood, Pennsylvania into apartments
medical office space.
Represented Community Loan Fund of New Jersey, Inc. in connection with the deployment of its Federal New Markets Tax Credit allocation for the development of the $60 million Teachers Village Complex in Newark, N.J.
Represented the Diocese of Fort Wayne-South Bend, Inc. in connection with the development of its $35 million St. Joseph's High School through the federal New Markets Tax Credit program. PNC Bank
Raza Development Fund provided new markets tax credit equity,
PNC Bank invested in the tax credits generated by the development of the school.
Represented PNC Bank in connection with its investment in federal new markets tax credits generated by the $10 million expansion of the Blue Ridge Medical Center in Arrington, Va.
Represented the Community Loan Fund of New Jersey, Inc. in connection with the deployment of its federal new markets tax credit allocation for the development of a $40 million student center by Saint Peter's College in Jersey City, N.J. Provident Bank provided the new markets tax credit leverage loan with the purchase of tax-exempt bonds issued by the New Jersey Economic Development Authority,
Wells Fargo invested in the tax credits generated by the project.
Represented New Jersey Community Capital in connection with the deployment of $7 million of its Federal New Markets Tax Credit allocation for the expansion of the Newark Screens movie theater in Newark, N.J. Goldman Sachs Urban Investment Group invested in the Federal New Markets Tax Credits generated by the transaction.
Represented RAIT Financial Trust, a publicly traded real estate investment trust, in connection with the $55 million redevelopment of its PlazAmericas Mall in Houston, Texas, through the Federal New Markets Tax Credit program. U.S. Bank provided the tax-credit equity,
the Urban Development Fund
the Texas Mezzanine Fund, Inc. provided federal new markets tax-credit authority.
Represented the Asian Arts Initiative in connection with the acquisition
redevelopment of its new headquarters through the Federal New Markets Tax Credit program. Wells Fargo Bank provided the federal new markets tax-credit allocation
the tax-credit equity for the transaction.
Represented Western Lodging LLC in the closing of $7.6 million of Recovery Zone Bonds, which will be leveraged with tax increment financing
equity through the federal New Markets Tax Credit Program for the development of a 130-unit Hilton hotel in Ogden City, Utah. U.S. Bank purchased the bonds
will purchase the tax credits.
Represented the Community Loan Fund of New Jersey, Inc. in connection with the use of its Federal New Markets Tax Credit allocation for the development of a $128 million mixed-use project in New Brunswick, New Jersey. Build America Bonds were leveraged through the Federal New Markets Tax Credit structure.
Represented Beneficial Savings Bank in connection with a $21.7 million leveraged loan to an investment fund of U.S. Bank. The fund advanced the loan, together with New Markets Tax Credit equity, to Campus Apartments to develop a 225-unit Homewood Suites extended-stay hotel near the campus of the University of Pennsylvania.
Represented The Salvation Army in connection with the enhancement of $45 million of Kroc Trust funds through the federal New Markets Tax Credit Program to generate $17 million of additional tax-credit equity for the development of the Ray
Joan Kroc Corps Community Center in Chicago, Ill. Five community-development entities provided tax-credit allocation for the project,
JPMorgan Chase Bank N.A. invested in the tax credits generated from the transaction.
Represented the Lower Eastside Girls Club of New York, Inc. in a transaction to fund the development of its new headquarters through the federal New Markets Tax Credit Program. JPMorgan Chase
Bank of America provided $5 million in tax-credit equity toward the $20 million development budget for the project,
the City of New York provided a $9.6 million grant to the club.
Represented The Salvation Army in the closing of two new market tax-credit transactions with tax-credit investor JPMorgan Chase Bank, N.A. for the development of Kroc Corps Community Centers in Quincy, Ill.
South Bend, Ind. The two transactions involved $67 million of federal New Markets Tax Credit authority.
Represented an investor in federal New Markets Tax Credits generated from the development of a mixed-use project at an urban university.
Represented an investor in federal New Markets Tax Credits generated from the development of a medical center in which the leverage loan consisted of tax-exempt bond proceeds.
Representation of a nonprofit organization in the development of a community center through the leveraging of its capital funds through the federal New Markets Tax Credit Program.
Representation of a certified community development entity in the development of its allocation of Federal New Markets Tax Credit authority.
Representation of certified community development entities in the preparation
submission to the CDFI Fund of applications for federal New Markets Tax Credit authority.
Represented letter of credit providers in $9.6 million variable rate dem
bond issuance (tax-exempt
taxable) for start-up assisted living facility, backed by FHLBNH letter of credit.
Affordable Assisted Living. Represented the first developer in the State of New Jersey structure
affordable assisted living facility which combines federal low-income housing tax credits with the New Jersey Medicaid waiver program. Mortgage Finance Agency that a licensed assisted living project in the State of New Jersey. In addition, developed documentation which separated rent payments
supportive services payments made by tenants of the Project so that the rent payable by tenants qualified under the federal low-income housing tax credit program.
Public Housing. Represented a large public housing agency development subsidiary in connection with rehabilitation of a public housing facility through the use of ACC funds, federal low-income housing tax credits,
federal historic tax credits.
As counsel for the development limited partnership controlled by the public housing authority, worked with the State Housing
Finance Agency in connection with allocation issues with respect to federal low-income housing tax credits.
Also represented our client in connection with the closing of the tax credit equity with the limited partnership's tax credit investor
rendered the legal opinions required by the limited partnership's tax credit investor.
