re-use of historic buildings

BuzzHouse: Understanding Historic Tax Credit deals and COVID-19’s impact

Baker Tilly’s podcast series specifically for professionals in the multifamily housing industry

Multifamily housing leaders and hosts, Don Bernards and Garrick Gibson, bring in the director of Stonehenge Capital to discuss state and federal historic tax credit transactions. The episode brings us back to the basics by developing an understanding of the equity market space and who the key players are. They dive in deeper to discuss what underwriters are looking for in historic deals and the initial conversations you should have when approaching the rehabilitating and re-use of historic buildings. In addition, you’ll gain insight into how COVID-19 has impacted historic underwriting and deal structures.


Next episode: Understanding Opportunity Zone investments in multifamily projects

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Special guest:

Steven LeBlanc, Director at Stonehenge Capital

Steven LeBlanc’s primary focus within Stonehenge’s Tax Credit Services business line is the origination, structuring and underwriting of both state and federal historic tax credit transactions. He previously worked with the community development line where he was responsible for the underwriting and origination of junior capital investments with an emphasis on both state and federal New Markets Tax Credit transactions.

Meet the hosts:

Donald N. Bernards, Partner at Baker Tilly

Don Bernards, the partner in charge of Baker Tilly’s housing transactions team, has been active in affordable housing since 1999. He is well-versed in tax issues, structuring affordable housing transactions and identifying major risks in a project. He has worked on affordable housing transactions in 26 states.

Garrick Gibson, Partner at Baker Tilly

Garrick Gibson, a partner on Baker Tilly’s housing transaction team, specializes in partnership tax concepts and tax-incentivized real estate for development projects. He uses his 15 years of experience to structure, model and analyze transactions, acquisitions, dispositions and reorganization of real estate, primarily representing developers.

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BuzzHouse: Increased multifamily property insurance rates are causing developers to become strategic