Real Estate
Identifying resources to finance the development of commercial real estate is challenging work. The attorneys working in Womble Carlyle's Real Estate Industry Group Initiative (REIGI) have the experience, knowledge and dedication to client service needed to help clients achieve their business goals.
We regularly represent Community Development Entities (CDEs), investors, and lenders in all aspects of New Markets Tax Credit (NMTC) matters and transactions, including drafting CDE certification and allocation applications, structuring and negotiating NMTC and "twinned" NMTC/historic transactions, and advising Community Development Entities with respect to program compliance policies and procedures.
Representative New Market Tax Credit transactions include:
- $25 million permanent loan to finance capital expenditures for businesses located in Delaware and Pennsylvania (Qualified Low-Income Community Investments Transaction)
- $15 million conduit term loan to New York-based community development entity to finance micro-business loans
- Represented bank investor in a combined $20 million qualified equity investment in two Community Development Entities;
- Represented Community Development Entity in $11.4 million qualified equity investment by bank investor. The Qualified Equity Investment Transaction proceeds were used to fund loans to mixed-use project in Baltimore, Maryland.