Sonia Nayak is the managing partner of the firm’s Los Angeles office. Her practice centers on real estate development, including tax credit finance, affordable housing, and commercial lending.
Much of my work involves bringing private capital to community and affordable housing development projects in California and nationwide. For example, I help investors (large financial institutions, regional banks, and funds) leverage unique financing structures to fund development projects with the capital needed to bring critical services to underserved neighborhoods and communities. These developments use financing programs such as the federal low-income housing tax credit and new markets tax credit, and include affordable multifamily housing complexes, healthcare facilities, charter schools, cultural and community centers, and research and technology incubator facilities.
I also work with developers, particularly in and around Southern California, helping them to acquire, finance, develop, and manage their real estate assets. These assets include office buildings, industrial/manufacturing sites, and other commercial real estate properties, as well as multifamily housing developments.
My practice covers a comprehensive area of real estate, including finance, corporate, tax, acquisitions, dispositions, and workouts. With well over fifteen years of experience, my clients view me as a trusted member of their team. At times, I am called upon to act as outside general counsel for my clients, providing objective and pragmatic advice and access to a deep bench of legal advisors at Nixon Peabody LLP to help them navigate their expanded business needs.
Much of my work involves bringing capital—in the form of new markets tax credit financing—to new businesses looking to operate in low-income neighborhoods throughout the country. My representation includes investors, lenders, community development entities, and qualified borrowers.
I also work with investors, financial institutions, and developers on low-income housing tax credit transactions, the proceeds of which help finance affordable housing developments. Having formerly worked at AIG SunAmerica, I understand investors’ goals and the legal intricacies necessary to achieve those goals.
Every day I see how tax credit financed developments positively impact communities. As we continue to invent new ways to address the shortage of affordable and transitional housing, and work to infuse our communities with the capital needed to create jobs and spur economic growth, we will need to expand the intersection of public and private collaboration to effectively address these issues.
University of California, Irvine, B.A., Political Science
University of the Pacific, McGeorge School of Law, J.D.
Sonia is a member of the California State Bar and a member of the Los Angeles and San Francisco County Bar Associations
Subscribe to stay informed of the latest legal news, alerts, and business trends.Subscribe