Harold R. Berk, Esquire
 Call Us at 215-646-3434   Mobile: 215-219-0547     Email: haroldberk@gmail.com

Lawyer and project finance consultant serving developers, investors, lenders and property owners on a variety of real estate and business finance and development projects with 43 years experience enabling projects around the nation. 

 

Tax Credit Commentator for CCH Journal of Passthrough Entities

Martindale Hubble Peer Review Rating:  AV Preeminent  5.0 out of 5

Complete LIHTC transactions

 

The following are transactions where limited partner investors made capital contributions in order to benefit from Low-Income Housing Tax Credits and/or Rehabilitation (Historic) Tax Credits:

 

  1. Historic Lafayette  (Butler, PA)
  2. Presser Senior Apartments  (Philadelphia)
  3. Nugent Senior Apartments    (Philadelphia)
  4. Hilltop Housing (Vermont)
  5. Rug Mill Families and Seniors  (New Jersey)
  6. Anchorage Housing 1  (Anchorage, Alaska)
  7. Anchorage Housing 2   (Anchorage, Alaska)
  8. Northwestern Bank Investment  (western PA)
  9. Eastridge Affordable Housing in Dauphin County, PA

10.  Phillipmain,LLC developed a mixed use low-income housing and commercial space in a historic renovation utilizing both LIHTC and historic rehabilitation tax credits with equity from Alliant Capital and permanent financing from NJHMFA. 

11.  Thomas L. Baldwin Senior Housing, L.P. accomplished a HUD Section 236 decoupling and obtained 9% LIHTC to rehabilitate the 59 unit elderly property, where Apollo Housing Capital provided equity and PHFA provided debt loans.  Philadelphia Law department adopted a legal opinion we prepared exempting 100% of the transfer tax on conveyance of existing building by nonprofit to the Partnership. 

12.  Brandywine Health & Housing LP constructed a mixed use transaction where 24 units of LIHTC housing are constructed on two floors, and the other two floors will be leased to a separate entity which will sublease space for medical and dental offices.  PNC is the investor in the LIHTC portion.  Debt financing from PHFA, County of Chester, DCED, and others.  The project is in Coatesville, Pennsylvania.  

13.  Chapel Hill Affordables, LLC acquired 30 new affordable condominium units located in a market rate 150 unit condominium project.  Transaction treated as a modified step in the shoes transaction where seller did not obtain LIHTC allocation, but Buyer did through tax-exempt bonds and assumed the proportionate eligible basis costs of the seller.  The Project is in Middletown Borough, Monmouth County, New Jersey.  NJHMFA issued tax exempt bonds, and Alliant Housing Capital is the LIHTC investor. 

14.  Manor Heights Apartments Limited Partnership constructed a 70 unit family housing development in Manor Township, Lancaster County, PA, utilizing an equity investment from The Richman Group, and financing from PHFA, Lancaster Redevelopment Authority, Lancaster Housing Opportunity Partnership, and The Reinvestment Fund, Inc. 

15.  Greenfield Commons Apartments Associates, LP constructed 53 units of senior citizen housing in a Philadelphia Main Line Suburb, using an equity investment from the National Equity Fund and debt financing from National Penn Bank, Montgomery County, Pennsylvania and the Redevelopment Authority of Montgomery County, Pennsylvania.  

16.  BI Beneficial Hopewell, L.P. constructed a 150 unit apartment complex for occupancy by senior citizens in Hopewell Township, Mercer County, New Jersey with an equity investment from MMA Financial, a construction loan from JP Morgan Chase Bank and permanent financing by the New Jersey Housing and Mortgage Finance Agency. 

17.  Maple Shade Apartment Associates, LP rehabilitated a 408-unit existing multi-family development in Maple Shade, New Jersey with an equity investment from Lend Lease Real Estate Investors, acquisition and construction financing from First Union National Bank and a permanent take-out loan by New Jersey Housing and Mortgage Finance Agency. 

18.  Spring Mill Ingerman Associates, LLC constructed a 94-unit multi-family housing development in Gloucester County, New Jersey with an equity investment by U.S.A./Fleet Institutional Tax Credit Fund XX-A L.P., construction financing by First Union National Bank and the New Jersey Department of Community Affairs, Balanced Housing Program. 

19.  Concord Pointe Senior Associates, L.P. constructed a 65-unit housing development for seniors in Delaware County, Pennsylvania with an equity investment from DCIC Concord Partners, LP, a construction loan from The Chase Manhattan Bank, and construction and permanent loans from the Pennsylvania Housing Finance Agency and Delaware County, Pennsylvania. 

20.  Collingwood Park Associates, L.P. developed a 110-unit new construction multi-family development in Wall Township, Monmouth County, New Jersey with an equity investment from U.S.A. Institutional Tax Credit Fund XX-B L.P., a construction loan from First Union National Bank, a construction and permanent loan from the New Jersey Department of Community Affairs, Balanced Housing Loan Program and permanent financing from the New Jersey Housing and Mortgage Finance Agency.

 21.  Rug Mill Families, L.P. rehabilitated the Rug Mill Industrial site in Freehold, New Jersey as 104 units of family housing with an equity investment by Zurich Structured Finance, and construction-permanent financing by the New Jersey Department of Community Affairs and the Borough of Freehold with a Regional Contribution Agreement loan.

 22.  County House Village Associates, L.P. constructed a 96 unit multi-family apartment complex in Washington Township, Gloucester County, New Jersey with equity investment by U.S.A. Institutional Tax Credit Fund X L.P., construction financing by First Union National Bank, the New Jersey Department of Community Affairs and the Township of Washington.     

 23.  Lincoln Court, L.L.C. developed a project in two phases in Orange, New Jersey consisting of the rehabilitation of 42 housing units in Phase I and 43 housing units in Phase II with an equity investment by an affiliate of Cargill Leasing Corp., a construction loan by the Bank of New York and the New Jersey Department of Community Affairs and permanent financing by the New Jersey Housing and Mortgage Finance Agency.

 24.  Refugio de Amor, L.P. rehabilitated a 20 unit apartment complex in Philadelphia for persons with AIDS with an equity investment by the National Equity Fund construction financing by the Redevelopment Authority of Philadelphia and Sponsor loans.

 25.  Salem-Lafayette Urban Renewal Associates, L.P. developed 74 units of housing in Jersey City, N.J. with equity from Corporations for Housing Limited Partnership III, construction financing from First Union National Bank, and construction-permanent financing from the New Jersey Housing and Mortgage Finance Agency, the City of Jersey City and the Jersey City Redevelopment Agency.

 26.  Stevenson Housing Associates developed 60 units of housing in Fremont, California with equity from Corporations for Affordable Housing Limited Partnership III, construction financing from the Union Bank of California, construction-permanent financing from the Redevelopment Agency of Fremont and permanent financing from tax-exempt bonds issued by the California Housing Finance Agency.

 27.  2601 North Broad Street Associates, L.P. rehabilitated a hotel, once part of the North Broad Street Railroad Station in Philadelphia, into 108 housing units with equity from Corporations for Affordable Housing Limited Partnership II, construction and bridge financing from New Jersey National Bank, and construction-permanent financing from the Redevelopment Authority of the City of Philadelphia and the Volunteers of America Delaware Valley, Inc., the latter using several funding sources for its loans.

 28.  Model Homes Limited Partnership rehabilitated 32 units of housing in Philadelphia with equity, construction and bridge financing from CoreStates Bank, N.A., and construction-permanent financing from the Delaware Valley Equity Fund and the Redevelopment Authority of the City of Philadelphia.

 29.  Amani House Urban Renewal Associates, L.P. developed a 22 unit Single Room Occupancy facility in Trenton, New Jersey with equity from the New Jersey Housing Opportunity Fund, L.L.C. and construction-permanent financing from the City of Trenton and the New Jersey Department of Community Affairs.

 30.  St. Christopher’s Associates, L.P. VIII has developed a 49 unit housing development in Philadelphia on part of the site of the St. Christopher’s Hospital for Children with equity from CLC-Richman Associates Limited Partnership, construction-permanent financing from Jefferson Bank and construction-permanent financing from the Redevelopment Authority of the City of Philadelphia.

 31.  Walden Pond, Ltd. developed 312 units of new construction housing for the elderly in Dade County, Florida with equity from Corporations for Affordable Housing Limited Partnership and construction-permanent financing by First Union National Bank of Florida, the Florida Housing Finance Agency and Metropolitan Dade County, Florida.

 32.  River Park Village Associates, L.P. developed 122 units of new construction housing in Morris County, New Jersey.  Equity Investment is by John Hancock Corporate Tax Credit I Limited Partnership and construction financing by NatWest Bank N.A.

 33.  Borinquen Associates II Limited Partnership developed 45 units of new construction housing in North Philadelphia with an equity investment by the National Equity Fund, the first PHFA-Redevelopment Authority Bridge Loan, and Redevelopment Authority construction-permanent financing.

 34.  Edgewood Manor Associates II, L.P. rehabilitated 56 units of housing in North Philadelphia with an equity investment by Corporations for Affordable Housing Limited Partnership II, and construction financing by NatWest Bank N.A. and the Philadelphia Redevelopment Authority.

 35.  Artist Village Associates, L.P. rehabilitated 36 units of housing in South Philadelphia with an equity investment from an affiliate of The Richman Group of Connecticut, L.L.C. and an affiliate of Cargill Financial Services Corp., construction financing by Meridian Bank and construction-permanent financing by the Philadelphia Redevelopment Authority.

 36.  Fairmount Hotel Urban Renewal Associates, L.P. rehabilitated the Fairmount Hotel in Jersey City, NJ to provide 59 units of housing utilizing both the Low Income Housing Tax Credit and the Rehabilitation Tax Credit.

 37.  Escalera Associates rehabilitated 24 units in North Philadelphia to provide SRO housing for persons suffering with AIDS.

 38.  Padua Court Urban Renewal Limited Partnership rehabilitated a school building in Jersey City, New Jersey to provide 38 units of housing for the elderly.  Construction financing through the Hudson County Improvement Authority requires the nonprofit corporation, Padua Housing Corporation, Inc. to construct the housing fr the partnership. 

39.  Danielle Associates, L.P. developed 60 units of new construction housing in West New York, New Jersey.

 40.  Two APM Plaza Associates developed a 12 unit project involving substantial rehabilitation of housing in North Philadelphia.

 41.  Borinquen Associates developed 45 units of new construction housing in North Philadelphia.

 42.  St. Christopher's Associates, L.P. V completed 29 units of housing at the Philadelphia site of a former children's hospital by substantially rehabilitating two of the buildings from the former hospital complex.

 43.  Point Breeze Redevelopment, L.P. completed 24 units as a scattered site development in South Philadelphia.

 44.  Model Cities 6 Associates, L.P. developed 71 units of new construction housing located on North Thirteenth Street in Philadelphia.

 45.  Wharton-Ferry Associates, L.P. constructed 71 units of housing on one contiguous block in the Grays Ferry area of South Philadelphia.

 46.  Washington Square Associates II, L.P. constructed 101 units of housing in Harrisburg, Pennsylvania.

 47.  Schumaker Place Associates, L.P. has constructed 96 units of new construction housing in Salisbury, Maryland.

 48.  Commerce Square Apartments Associates, L.P. constructed 80 units of new housing in Smyrna, Delaware.

 49.  Georgetown Associates II, L.P. constructed 50 apartments as new construction in Georgetown, Delaware.

 50.  Carolina Woods Associates, A Limited Partnership constructed 48 units of housing in Greensboro, North Carolina.

 51.  Admiral Housing Limited Partnership completed a substantial rehabilitation of 46 units in a building known as Admiral Court in West Philadelphia.

 52.  Dorsett Limited Partnership completed the substantial rehabilitation of 58 units of housing in West Philadelphia.

 53.  Justin Associates completed the substantial rehabilitation of a 40 unit apartment building in West Philadelphia.

 54.  2000/2100 Christian Street Associates completed the substantial rehabilitation of 57 units of housing on the 2000 and 2100 Blocks of Christian Street in South Philadelphia.

 55.  Christian Street Associates Limited Partnership completed the substantial rehabilitation of 72 units of housing in the 1900 Block of Christian Street in Philadelphia.

 56.  Christian Street Commons Associates completed the substantial rehabilitation of 18 units of housing in the 500 Block of Christian Street in South Philadelphia.

 57.  Cooper Plaza Historic Homes, A Limited Partnership completed the substantial rehabilitation of 47 units of housing and the new construction of 17 units of housing i Camden, New Jersey.  Rehabilitation Tax Credits were used in addition to Low Income Housing Tax Credits.

 58.  Edgewood Manor Associates, L.P. completed 49 units of substantial rehabilitation of housing in the 1500 Block of Allegheny Avenue in North Philadelphia.

 59.  Magnolia Mews Limited Partnership completed the substantial rehabilitation of 63 units of housing in the Germantown area of Philadelphia.