Alex Rosso is an associate in the Affordable Housing group. He represents developers and lenders in acquiring, rehabilitating and financing affordable housing projects nationwide.
I focus on real estate transactions involving all aspects of affordable housing development, including the acquisition, financing, construction and preservation of multifamily housing. The projects I work on typically involve mixed financing comprised of equity and debt funding sources. These projects typically receive low-income housing tax credits and tax-exempt bond proceeds, and many receive a combination of subordinate debt from federal, state or local programs. I have also closed transactions combining low-income housing tax credits with new markets tax credits and historic rehabilitation tax credits.
My experience in closing hundreds of multifamily real estate transactions insured by the U.S. Department of Housing and Urban Development (HUD), including construction, acquisition and refinancing loans utilizing multiple financing structures, gives me substantial knowledge and understanding of the Federal Housing Administration (FHA) insurance programs, including Sections 207, 221(d)(4) and 232, as well as related HUD regulatory programs, including the transfer of an FHA-insured loan pursuant to HUD’s Transfer of Physical Asset (TPA) requirements and HUD approvals for the assignment of Section 8 contracts.
I am also experienced in acquisition and refinancing loans to be purchased by Fannie Mae and Freddie Mac, including both market rate and affordable transactions.
As the demand for multifamily housing continues to grow, developers and owners of multifamily housing are confronted with the challenges of finding new, creative ways to leverage public and private resources. Many federal, state and local programs are devoting new resources to the development and preservation of affordable housing and the opportunity for developers who are able to successfully navigate the transactional and regulatory framework to access these resources is unprecedented.
Bisnow | April 23, 2020
This article, which mentions NP for representing the developer in the transaction, covers a $50 million financing deal that enables construction of a new 191-unit residential building in Northeast Washington, D.C. The deal team included Washington, D.C. partner Susanna Mitchell, New York City partner Meghan Altidor, and Boston associate Alexander Rosso, all of the Affordable Housing and Real Estate group.
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