Low-Income Housing Tax Credits
We worked on the very first Low-Income Housing Tax Credit (LIHTC) investment to close in Minnesota in 1987, and since that time have represented developer clients in connection with more than 500 projects, which have included the financing of billions of dollars in LIHTC project construction. During that time, we have applied our knowledge and capabilities to become extremely proficient in LIHTC deal structure and finance to the benefit of our clients.
We also know how to fix broken deals. As an example, we helped a client acquire the managing interest in a portfolio of approximately 75 LIHTC properties. Over the next year and a half, we helped individually refinance and obtain new LIHTC equity on the 55 most troubled properties. During that process, we cleared up and solved significant varieties of LIHTC compliance and documentation issues, and in the end, our work preserved a vast amount of LIHTC investor equity already in place and exceeded the client’s estimates of the LIHTC available in the portfolio.