Andrew Tripp is a partner in Nixon Peabody’s Community Development Finance practice group. Andrew concentrates his practice in the area of complex real estate finance transactions that involve the use of federal and state tax credits to finance the development of affordable housing and the rehabilitation of historic buildings.
What do you focus on?
My practice primarily consists of advising institutional investors, syndicators and developers in a range of direct tax credit investments and fund formation matters, particularly those involving low income housing tax credits (LIHTC) and historic tax credits (HTC). I also have significant experience representing investors, developers and lenders in a wide variety of traditional real estate investment and lending transactions.
- Assisting a global financial institution on its formation of proprietary historic tax credit funds with a national syndicator to invest in a range of historic rehabilitation projects.
- Advising a national bank on its $47,000,000 direct investment in the historic rehabilitation of the Dayton’s Department Store building in downtown Minneapolis, Minnesota.
- Advising a national bank on its $31,000,000 direct investment in the historic rehabilitation of St. Luke’s Hospital campus in Manhattan, New York
- Advising a national bank on its $9,000,000 direct investment in the historic rehabilitation of the Dayton Arcade project in downtown Dayton, Ohio.
- Advising a national health insurance holding company on its $33,000,000 investment in a fund created to invest in multiple solar energy facilities in Texas.
- Advising a national LIHTC syndicator on its $22,000,000 lower tier investment in the acquisition/rehabilitation of a 492-unit apartment complex located in Philadelphia, Pennsylvania, which included a RAD recapitalization of the property and a new HUD-insured 221(d)(4) loan.
- Advising an international insurance company on various direct investments in LIHTC projects across the country.
- Advising a national bank on various single-investor proprietary investments in LIHTC projects across the country.
- Advising a developer on the formation of a joint venture with an institutional investment fund and related construction financing for the $22,000,000 redevelopment of a warehouse in Chicago’s West Loop neighborhood into a residential/retail mixed-use project.
- Advising a regional lender in making a $24,000,000 construction loan to a national trade organization for the development of its national headquarters.