Sonia Nayak’s practice centers on real estate development and financing, including new markets tax credits, 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 and tools to infuse development projects with the capital needed to bring critical services to underserved neighborhoods and communities. These development projects use financing programs such as the federal low-income housing tax credit and new markets tax credit, and include affordable multifamily rental housing complexes, health care facilities, charter schools, cultural and community centers and research and technology incubator facilities.
I also work with developers, particularly in and around the Los Angeles area, 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.
For me, it’s rewarding to drive through my city—or even travel to other parts of the country where projects I’ve worked on are located—and know the story and the people behind these important developments, and to see how these developments can positively impact the surrounding community.
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.
In light of recent tax reform, the collaboration between public and private entities will become vital to financing and constructing community development and affordable housing projects.
Los Angeles Business Journal | April 07, 2019
Nixon Peabody Community Development Finance counsel Sonia Nayak has been recognized as one of the top women lawyers in the city on Los Angeles Business Journal’s annual list.
University of the Pacific, McGeorge School of Law, J.D.
University of California, Irvine, B.A., Political Science
Sonia is a member of the California State Bar and a member of the Los Angeles and San Francisco County Bar Associations