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REAL ESTATE & COMMUNITY DEVELOPMENT

As the economy slowly recovers, the real estate industry needs counsel that can identify and tap resources that will increase opportunities. New projects that can leverage federal and state financing incentives are increasingly attractive. Our in-depth knowledge of these programs makes Nixon Peabody a valuable partner in a complex transaction.

Nixon Peabody has more than 100 attorneys working in the U.S. and Europe, with deep experience in virtually all matters related to real estate, including real estate finance, restructuring and workouts, acquisition, securitization and structured finance, investment management and asset recovery, and development of commercial real estate. Of particular strength is our knowledge of the capital markets and our ability to assist financial institutions, governmental agencies, pension, private equity, and hedge funds, which are all playing greater roles in the real estate markets domestically, in Western Europe, and in the emerging markets in Asia and Africa.

With experience that spans a vast variety of deals, properties, and asset classes, the real estate and community development attorneys at Nixon Peabody intuitively understand our clients’ goals and work to meet them with speed, creativity, and efficiency. Because we have experience with such a wide variety of projects, clients can rely on us to structure deals innovatively and effectively, as well as anticipate and resolve sticky problems. Our areas of experience fall into four broad categories:

  • Acquisitions and dispositions, development and land use, and leasing
  • Affordable housing, tax credit finance and syndication, and sustainable development
  • Capital markets and real estate finance
  • Distressed debt and real estate workouts

Our clients

Our attorneys represent a broad cross-section of clients from the private and public sectors. We have handled both straightforward and highly complex real estate transactions for domestic and foreign investment banks, commercial banks, insurance companies, pensions, private equity, and hedge funds, and other financial institutions, as well as individual investors, involving:

  • Affordable housing
  • Convention centers
  • Franchised businesses
  • Health care facilities, senior care, and assisted living
  • Hotels and resorts
  • Industrial sites, warehouses, and distribution centers
  • Mixed-use properties
  • Multifamily housing (affordable and market rate)
  • Office buildings and parks
  • Specialty housing including student, senior, and military housing
  • Restaurants, theatres, and museums
  • Retail centers and shopping malls
  • Telecommunications and energy sites
  • University and special-purpose buildings

Nixon Peabody’s Real Estate group offers comprehensive services to address the full range of business, legal, and regulatory issues clients face in today’s marketplace. The group often teams with our nationally-recognized Affordable Housing and Tax Credit Finance and Syndication practitioners for low-income housing and community development work, as well as renewable energy projects, New Markets Tax Credit-financed commercial development, and redevelopment of buildings that use the historic rehabilitation tax credit. These additional related areas of experience give our Real Estate practice a breadth and heft that is unparalleled.

Chambers USA has ranked members of our team, with clients praising our “attention to detail, deep knowledge, responsiveness, and great value” in 2010.

Thought Leadership/Alerts

Gov. Andrew Cuomo unveils major economic development initiative offering tax benefits to businesses operating on or near select college and university campuses
New York Law Alert | May 30, 2013

Webinar Recording: Greening Affordable Housing
Originally recorded May 21, 2013 | May 24, 2013

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Webinar Recording: The Case for Privatization of Student Housing, Part Four: Sustainable Design and Green Building Issues in the Campus Context
Originally recorded May 14, 2013 | May 20, 2013

Webinar Recording: Affordable Housing Nonprofit Governance 101
Originally recorded May 7, 2013 | May 10, 2013

CFPB proposes amendments to the ability-to-repay and qualified mortgage rules
Regulated Financial Institutions Alert | March 15, 2013

Webinar Recording: The Case for Privatization of Student Housing, Part Three: Negotiating the Management Agreement—Student Residential Life Issues
Originally recorded February 27, 2013 | March 6, 2013

Thought Leadership on Affordable Housing and Community Development
March 1, 2013

Qualified mortgages vs. qualified residential mortgages
Regulated Financial Institutions Alert | February 26, 2013

CFPB issues ability-to-repay and qualified mortgage rules
Global Finance Alert | February 4, 2013

Webinar Recording: The Case for Privatization of Student Housing, Part One: Market Overview and Structuring Options
Originally recorded October 16, 2012 | October 22, 2012

Master Limited Partnerships—How's the Fit with Renewable Tax Credits?
Novogradac Journal of Tax Credits | September 1, 2012

Grandfathering Projects for Section 1603 Grants – Facing the New Hurdles by September 30, 2012
Novogradac Journal of Tax Credits | August 1, 2012

HUD publishes final guidance on its Rental Assistance Demonstration
Affordable Housing Alert | July 26, 2012

Term Sheets and Closings—10 Things to Remember
Novogradac Journal of Tax Credits | July 1, 2012

Filing Treasury's Required Annual Report
Novogradac Journal of Tax Credits | June 1, 2012

Valuing Renewable Assets—How Much Is Eligible for a Grant or Credit?
Novogradac Journal of Tax Credits | May 1, 2012

Two Items of Interest to Those with (or Seeking) 1603 Grants
Novogradac Journal of Tax Credits | April 1, 2012

U.S. District Court rules that so-called "amenity use fees" paid by residential tenants are prohibited under Massachusetts law
Real Estate Law Alert | March 20, 2012

Q&A with Deborah VanAmerongen: Direct Purchase Bonds
One on One: Industry Insight | March 14, 2012

HUD announces its Rental Assistance Demonstration and moves forward with a new model for preservation and rehabilitation of certain federally assisted affordable units
Affordable Housing Alert | March 9, 2012

Bagging the bag: managing compliance with laws that limit the use of carryout bags
Legally Green Alert | March 2, 2012

Structuring Renewable Projects Involving Government and Tax-Exempt Entities
Novogradac Journal of Tax Credits | March 1, 2012

How much is the olive in that dirty martini?
Franchise Law Alert | February 29, 2012

Thought Leadership on Affordable Housing and Community Development
February 23, 2012

Don't Worry About Capital—I've Got a Rich Friend Who'd Like to Invest in My Energy Project
Novogradac Journal of Tax Credits | February 1, 2012

Establishing that You're Grandfathered—What Do You Have to Do?
Novogradac Journal of Tax Credits | January 1, 2012

Combining New Markets Tax Credits with the ITC or Section 1603 Grant Programs
Novogradac Journal of Tax Credits | October 13, 2011

Thought Leadership on Affordable Housing & Community Development
July 1, 2011

New York Supreme Court upholds validity and enforceability of the “Bad Boy Guaranty”
Real Estate Law Alert | March 17, 2011

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Press

Boston Business Journal Recognizes Nixon Peabody Clients as Real Estate Deals of the Year
May 23, 2013

Nixon Peabody Attorneys Honored by Preservation Massachusetts
May 2, 2013

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Nixon Peabody Clients Receive $1.3 Billion in Latest New Markets Tax Credits Awards 10th Round of Program Brings
April 26, 2013

Chambers Recognizes Leading Nixon Peabody Attorneys and Practices
March 14, 2013

Former U.S. Senator Scott Brown Joins Nixon Peabody LLP
March 11, 2013

Nixon Peabody Advises Constellation Brands in Revised Agreement with Anheuser-Busch InBev for Complete Divestiture of U.S. Business of Grupo Modelo
February 14, 2013

New Leadership for Nixon Peabody's Nationally Recognized Real Estate Practice
December 12, 2012

Nixon Peabody Attorneys Among Those Honored with 2012 Cornerstone Awards for Pro Bono Service
November 13, 2012

U.S. News & World Report and Best Lawyers Names Nixon Peabody a “Best Law Firm” and “Law Firm of the Year”
November 1, 2012

Nixon Peabody Advises on $93M Sale of Prime Massachusetts Office Park Space
August 3, 2012

Nixon Peabody Attorney to Helm National Housing Conference
June 27, 2012

Nixon Peabody Welcomes Experienced Real Estate Attorney from Citigroup
June 12, 2012

Massachusetts State Representative James Vallee Joins Nixon Peabody
April 30, 2012

Affordable Housing and Historical Restoration Project Rejuvenates Massachusetts Community
April 23, 2012

Washington, DC's Historic Howard Theatre Completes $29M Renovation
April 16, 2012

Nixon Peabody Advises U.S. Bancorp in Solar Power Military Housing Project
March 20, 2012

Nixon Peabody Clients Receive More Than $1.4 Billion in Latest New Markets Tax Credits Awards
March 1, 2012

Nixon Peabody Advises in Award Winning Affordable Housing and Mixed-use Development
January 18, 2012

Coalition for the Homeless Presents Nixon Peabody's Deborah VanAmerongen with "Key of Excellence Award"
December 9, 2011

Nixon Peabody Partner Honored for Commitment to Affordable Housing Industry
December 8, 2011

Nixon Peabody Recognized As a "Best Law Firm"
November 1, 2011

Tax Credit Finance Team Joins Nixon Peabody's NYC Office
September 6, 2011

New Housing Project Set to Break Ground in Boston; Nixon Peabody Advises Rogerson Communities on 70+ Unit Development
August 1, 2011

Projects Developed by Nixon Peabody Client Selected Among “Real Estate Deals of the Year;” San Francisco Business Times Recognizes Two Martin Building Co. Projects Among Best in Financing
March 29, 2011

Boston Announces Plans for New Hostel; Nixon Peabody Advises on “Green” 400+ Bed Project
March 17, 2011

Nixon Peabody Expands Affordable Housing Practice on West Coast; New Partner Tuan Pham Joins Firm’s San Francisco Office
March 14, 2011

Nixon Peabody Clients Awarded $1.4 Billion in New Markets Tax Credits; Program Brings Private Capital to Low-Income Communities
February 28, 2011

Nixon Peabody Advises as Historic Detroit Landmark Tower Completes Financing
February 25, 2011

Nixon Peabody Advises Developer of Award-Winning Clean Energy Program in New Jersey
January 6, 2011

Nixon Peabody Advises in Largest Affordable Housing Preservation Closing in Massachusetts History
December 22, 2010

First Fuel Cell Financing Closed with New Markets Tax Credits; Nixon Peabody’s Tax Credit Finance & Syndication Team Advises on Transaction
December 8, 2010

Nixon Peabody Announces New Leadership for Government Relations Practice; Former Congressman Thomas Reynolds Named to Leadership Role
October 12, 2010

Nixon Peabody Recognized as a “Best Law Firm”; Firm’s Experience and Excellence Honored Locally and Nationally
September 23, 2010

Leading Affordable Housing Attorney Joins Nixon Peabody; Firm Welcomes Partner Gary Downs in San Francisco
September 13, 2010

Nixon Peabody Expands Real Estate Practice; Partner Ross Eichberg Joins Firm’s Washington D.C. Office
June 22, 2010

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Media Clips

  • Am Law Firms Look to Land Clients on the Ground Floor
    The American Lawyer | June 1, 2013

    Boston associates Courtney New and Mahmood Firouzbakht discuss their involvement with the Cambridge Innovation Center, the largest flexible office facility for growing technology and life sciences companies in the Greater Boston area.

  • Excellence in Law
    Daily Record | April 18, 2013

    Rochester real estate associate Greg Nearpass is among the “Up & Coming Attorneys” recognized by the Daily Record as part of its annual “Excellence in Law” program.

  • Where the Votes are in Boston
    CommonWealth | April 9, 2013

    This contributed article co-authored by Boston Real Estate partner Larry DiCara focuses on how voting power in Boston has shifted geographically over the past decade.

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  • What the Future Holds for Fracking In NY
    Energy Law360 | April 9, 2013

    This contributed article authored by Albany Energy & Environmental counsel Peter Trimarchi, Albany Energy & Environmental partner Ruth Leistensnider, Rochester Products: Class Action, Trade & Industry Representation partner Chris Thomas, and Rochester Real Estate associate Greg Nearpass discusses two major developments expected this spring that will largely determine the extent to which high-volume hydraulic fracturing (HVHF) will occur in New York state.

  • Amid Gentrification, Affordable Units in Chinatown
    Boston Globe | January 23, 2013

    As the redevelopment of the Hong Lok House, a Boston affordable housing project, progresses, Boston Affordable Housing partner Jeff Sacks discusses the complexities of the financing.

  • A Novel Approach
    Tax Credit Advisor | September 1, 2012

    This article highlights the U.S. Department of Housing and Urban Development’s efforts to implement its new Rental Assistance Demonstration (RAD) program. Affordable Housing practice group leader Steve Wallace and Affordable Housing partners Monica Sussman and Michael Reardon provide commentary.

  • Wild Ride Ahead?
    Tax Credit Advisor | September 1, 2012

    Washington, DC, Tax Credit Finance & Syndication partner Rick Goldstein, counsel to the Affordable Housing Tax Credit Coalition, discusses the outlook for affordable housing and community development between Labor Day and the remainder of the Congressional year.

  • Nixon Peabody Tackles Innovation
    Washington Post | August 13, 2012

    Chief Innovation Officer Herb Stevens and Washington, DC, office managing partner and Tax Credit Finance & Syndication practice group leader Jeff Lesk are featured in this article that focuses on Nixon Peabody’s innovation efforts.

  • New Project-Based Subsidy to Preserve Affordable Rental Housing
    Affordable Housing Finance | August 8, 2012

    This contributed article written by Washington, DC, partner and Affordable Housing practice group leader Steve Wallace focuses on HUD’s final implementation notice of the rental assistance demo (RAD) program.

  • Grandfathering Projects for Section 1603 Grants
    Novogradac Journal of Tax Credits | August 1, 2012

    This column, authored by Boston tax credit finance and syndication partner Forrest Milder, discusses how to be prepared as the U.S. Treasury adds new rules to the Section 1603 cash grant program and avoid a grant being reduced or even denied.

  • Personal Notes on Lawyers
    New York Law Journal | July 12, 2012

    New York City Affordable Housing partner John Kelly is highlighted for being named chairman of the board of governors of the National Housing Conference.

  • Guest Viewpoint: Compulsory integration compensates all landowners
    Press & Sun-Bulletin and Ithaca Journal | July 9, 2012

    This op-ed column, authored by Rochester Real Estate associate Greg Nearpass, responds to a recently published “Guest Viewpoint” column addressing New York State Governor Cuomo’s rumored plan to allow high-volume hydraulic fracturing (“HVHF”).

  • The Current: Term Sheets and Closings—10 Things to Remember
    Novogradac Journal of Tax Credits | July 1, 2012

    Boston Tax Credit Finance & Syndication partner Forrest Milder authored this column discussing the considerations to keep in mind while negotiating the term sheet and getting to closing.

  • Expiration of 9 Percent Fixed Rate Looms
    Affordable Housing Finance | June 27, 2012

    Washington, DC, Tax Credit Finance & Syndication counsel Susan Reaman provides commentary focused on the remaining time available on the fixed 9 percent rate for low-income housing tax credits (LIHTCs).

  • The Grapevine
    Commercial Mortgage Alert | June 15, 2012

    The arrival of New York City Real Estate counsel Tushna Gamadia is included in this column noting real estate finance and securitization news.

  • Preservation Strategies: Housing at risk
    Affordable Housing Finance | June 1, 2012

    Washington, DC, partner and leader of the firm’s Affordable Housing practice Steve Wallace provides commentary about three key changes that could have an impact on the preservation of existing affordable housing.

  • HTCs, NMTCs Revive Historic African-American Theater
    Journal of Tax Credits | June 1, 2012
    The rehabilitation of the Howard Theatre, the nation’s oldest African American theater, is featured. It is noted that the major two-year renovation project made possible by a $29 million public and private financing deal. Washington, DC, Tax Credit Finance & Syndication partner Scott Sergio, who represented U.S. Bancorp Community Development Corporation (USBCDC), the theater’s tax credit investor, is quoted. Click here to read the original article.
  • Bay Area People
    San Francisco Business Times | May 21, 2012

    This coverage notes that San Francisco Real Estate partner Allan Low has been appointed to the San Francisco Recreation and Park Department Commission.

  • Rep. James Vallee Joins Nixon Peabody Law Firm
    Boston Globe | May 1, 2012

    This coverage highlights the arrival of Massachusetts State Representative Jim Vallee who has joined the firm’s Real Estate and Government Relations practices as counsel in the Boston office.

  • Personality Profiles
    New York Real Estate Journal | April 24, 2012

    Rochester Real Estate partner Tom Greiner is among the individuals highlighted within the “Personality Profiles” special section of this publication.

  • Court: Landlords Ask Too Much With Amenity Fees
    Banker & Tradesman | April 8, 2012

    This article discusses a decision by the United States District Court for the District of Massachusetts determining that Massachusetts landlords are prohibited from requiring any residential tenant or prospective tenant to pay so called “amenity use fees” at or prior to the commencement of the tenancy. Boston Real Estate partner Matthew Lynch discusses how the decision might affect Massachusetts residential landlords.

  • Planning a Fossil Teardown
    Public Utilities Fortnightly | April 1, 2012

    This contributed article, authored by Rochester Real Estate partner Bruce Baker, Rochester Energy & Environmental partner Jean McCreary, and Rochester senior environmental health engineer Libby Ford, discusses new Environmental Protection Agency (EPA) regulations that are driving companies to decommission older power plants and the issues faced during this process.

  • Local Business Leaders React to Proposed MBTA Service Cuts
    WBUR | March 5, 2012

    Boston Real Estate partner Larry DiCara also provides commentary in the piece discussing the Massachusetts Bay Transportation Authority’s (MBTA) proposed fare hikes and service cuts and their potential impacts.

  • Q&A with Deborah VanAmerongen: Direct Purchase Bonds
    Novogradac Journal of Tax Credits | March 1, 2012
    Affordable Housing Strategic Policy Advisor Deborah VanAmerongen is featured in this Q&A addressing changes to the industry following New York and New Jersey granting permission to issue direct purchase bonds to finance affordable housing projects.
  • Who’s News
    Real Estate Weekly | February 29, 2012

    This news brief highlights New York City Real Estate attorney Bill Lang’s election to the firm’s partnership.

  • Movers & Shakers
    Long Island Business News | November 22, 2011

    This coverage notes that Real Estate partner and Long Island Office Managing Partner Denise Pursley has been named to the Community Development Corp. Council of Advisors.

  • Q&A with Nixon Peabody’s Justine Wilcox
    Law 360 | November 3, 2011

    This Q&A profiles Washington, DC, partner and leader of the firm’s Real Estate practice, Tina Wilcox.

  • Who’s Who in Professional Services
    Long Island Business News | October 28, 2011

    Long Island office managing partner and Real Estate partner Denise Pursley is among those highlighted in this special section highlighting “who’s who in professional services.”

  • City Bar Justice Center Presents Pro Bono Awards
    New York Law Journal | October 26, 2011

    This coverage highlights the City Bar Justice Center Third Annual Jeremy G. Epstein Awards for pro bono service which honored attorneys across the State including New York City’s Bill Lang for his involvement with the Cancer Advocacy Project. 

  • A Place to Retire in Chinatown
    Boston Globe | August 4, 2011

    This feature article highlights the groundbreaking on the Hong Lok House redevelopment in Boston’s Chinatown neighborhood and notes that it kickstarts long-stalled plans to address a shortage of affordable housing for elderly. Boston Affordable Housing partner Jeff Sacks, who led a cross-practice team of attorneys on this project, is quoted in the piece.

  • Business People
    New Hampshire Union Leader | June 6, 2011
    This coverage highlights Manchester Real Estate associate Jim Kerouac for being elected president of the boards of directors for both New Hampshire Legal Assistance and the Legal Advice and Referral Center.
  • NEWiRE Honors Three Local Attorneys
    Massachusetts Lawyers Journal | June 1, 2011
    This coverage notes that Boston Affordable Housing and Real Estate & Community Development associate Sarah Teachworth Boehs was among the honorees at the Annual New England Women in Real Estate (NEWiRE) Achievement Awards.
  • Human Capital: People on the Move
    Boston Business Journal | January 5, 2011
    In this column highlighting Boston-area executive moves, promotions, and appointments, it is noted that Boston Real Estate & Community Development partner Larry DiCara has been named chairman of A Better City (ABC), an association of Boston’s business and institutional leaders working on policies and initiatives related to transportation, land development, and the environment.
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Events

Webinar: HUD's RAD program: What do you need to know?
July 29, 2013

Webinar: Affordable Housing Nonprofit Governance 201
July 18, 2013

IPED Conference: Tax Credit Property Dispositions plus an Affordable Housing Update
July 10, 2013

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How is sequestration affecting Section 8 funding?
July 2, 2013 | New York, NY

Webinar: Greening Affordable Housing
May 21, 2013

Webinar: The Case for Privatization of Student Housing, Part Four: Sustainable Design and Green Building Issues in the Campus Context
May 14, 2013

Webinar: Affordable Housing Nonprofit Governance 101
May 7, 2013

Tax Assessment Reduction Tips: Is my commercial/industrial property over-assessed?
May 2, 2013 | Rochester, NY

IPED Conference: Learn the Basics: Housing Tax Credits 101
April 18, 2013

IPED Conference: Emerging Trends in Financing Tax Credit Projects
March 13, 2013

Webinar: The Case for Privatization of Student Housing, Part Three: Negotiating the Management Agreement—Student Residential Life Issues
February 27, 2013

Webinar: The Case for Privatization of Student Housing Part Two: Ownership, Development and Financing of Privatized Student Housing—Three Case Studies
December 11, 2012

Nixon Peabody's New York CLE Program
December 5, 2012 | New York, NY

IPED Conference: National Affordable Green Homes and Sustainable Communities Summit @ Greenbuild
November 13, 2012

Webinar: The Case for Privatization of Student Housing, Part One: Market Overview and Structuring Options
October 16, 2012

IPED Conference: The Future of Historic Tax Credits
October 11, 2012

Bisnow Affordable Housing and Community Development Networking Breakfast
September 27, 2012 | Washington, DC

New York Affordable Housing and Community Development Update and Networking Reception
September 12, 2012 | New York, NY

IPED Conference: Tax Credit Property Dispositions in 2012
June 14, 2012 | Chicago, IL

IPED Conference: Learn the Basics: Housing Tax Credits 101, plus Historic Tax Credits
April 18, 2012

IPED Conference: The New Frontier in Financing Tax Credit Projects
March 21, 2012

Practical Considerations for Tenants in Leasing Real Property
March 13, 2012 | Rochester, NY

11th Annual Developers' Roundtable
February 16, 2012

American Securitization Forum 2012
January 22, 2012

NIC MAP Midwest Seniors Housing Market Briefing & Networking Breakfast
November 10, 2011

IPED Conference: Tax Credit Property Dispositions in 2011
November 9, 2011

Webinar: Green Building: Profits and Pitfalls
October 18, 2011

Affordable Housing Update & Networking Reception
October 5, 2011 | Boston, MA

IPED Conference: Learn the Basics: Housing Tax Credits 101
July 21, 2011

IPED Conference: 6th Annual Green Homes & Sustainable Communities Conference
July 14, 2011

NIC MAP Boston and New England Market Briefing & Networking Breakfast
March 24, 2011

2010 Real Estate Update: Affordable Housing, LIHTCs, and Today's Real Estate Marketplace
December 15, 2010

IPED Conference: Tax Credit Property Dispositions 2010: Unlocking Value and Seizing Opportunities at Year 15 and Beyond
November 9, 2010

IPED Conference: Historic Tax Credits for Developers
October 7, 2010

IPED Conference: Renewable Energy 101: Tapping into New Sources of Energy and Money for Housing and Community Development Projects
September 21, 2010

IPED Conference: 5th Annual Green Homes & Sustainable Communities Conference: The Definitive National Conference on Green Affordable Housing and Community Development
July 29, 2010

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Real Estate & Community Development