Affordable Housing

Benjamin J. Armour Partner (617) 338-2423 vCard
John G. Balboni Partner (617) 338-2438 vCard
Ashley H. Brooks Partner (617) 338-2412 vCard
Gina B. Dailey Staff Attorney (617) 338-2417 vCard
Steven P. Eichel Partner (617) 338-2920 vCard
Michael W. Fenn Counsel (617) 338-2494 vCard
John W. Gahan III Partner (617) 338-2472 vCard
Karen J. Kepler Partner (617) 338-2813 vCard
Stephen Rebelo Associate (617) 338-2853 vCard
Deirdre M. Robinson Partner (617) 338-2487 vCard

Sullivan & Worcester’s Affordable Housing Group is a dynamic cross-disciplinary team that represents many of the stakeholders involved in the multi-verse of affordable housing. Our clients include developers, non-profit organizations, private equity funds, lenders and syndicators. Our team has direct experience with low-income housing tax credits (LIHTC), Section 8 and many other elements of affordable housing transactions throughout the country. We have helped our clients through the life-cycle of individual assets and their organizations, including acquiring, financing and disposing of properties, syndicating (and re-syndicating) tax credits related to a project, capitalizing development opportunities, structuring joint ventures with limited and general partners, employing corporate strategies to acquire new companies and make platform investments with strategic partners.

A primary area of expertise involves advice on the introduction of a new capital partner to a transaction, whether as a minority/majority general partner or limited partner, and navigating the various issues that arise in structuring such transition. Having closed over a billion dollars (asset value) of such matters, we have encountered and solved for a myriad of issues for the benefit of our clients. Such experience demonstrates that in addition to our legal skill set, we pride ourselves on our business judgement that allows us to help our clients meet their business goals and objectives.

In any engagement, we strive to work efficiently with our clients and their personnel and advisors. Our team-oriented approach ensures overall transaction success.

Representative Client Work

  • Represented a private equity fund on the purchase of multiple general partnership interests in an existing LIHTC and Section 8 portfolio involving over 40 properties in various states
  • Represented an investment fund on a joint venture acquisition of corporate debt and general partnership interests in connection with a LIHTC portfolio involving over 65 properties in various states valued at over $300 million
  • Represented private equity fund investment in several platform investments in regional and national affordable housing developers
  • Represented an affordable housing developer in connection with programmatic refinancing of its portfolio (50+ properties) with various state and federal agencies
  • Represented a joint venture between a developer and a private equity fund on a $100 million disposition of a LIHTC portfolio to a third-party buyer
  • Represented an affordable housing developer with the corporate acquisition and consent process related to a regional affordable housing developer