Arlene H. Koutras
Arlene Koutras advises clients in connection with a wide range of commercial real estate matters with a focus on representing institutional lenders in the financing of commercial, multifamily, cooperatives and condominiums and the sale of those loans to Fannie Mae and Freddie Mac.
She also has experience with affordable and supportive housing transactions involving city and state subsidies, ground leases, state housing finance agencies, nonprofit entities, local municipalities and low income housing tax credits. In addition, she has represented lenders in connection with secured and unsecured financing, including acquisition, construction, revolving and term loans.
• Represented a community development financial institution in connection with a loan to finance the renovation and rehabilitation of nine (9) scattered site buildings in Brooklyn, New York. Additional subsidy provided by HPD under the Multifamily Preservation Loan Program (MPLP). Tax credit equity provided by Enterprise Community Partners.
• Represented a nationally recognized bank in connection with a construction loan to a Pennsylvania limited partnership to finance the new construction of senior housing apartments and a new community center in Allegheny County, PA. Construction involved the redevelopment of an existing school building. Tax credit equity provided by RBC.
• Represented a nationally recognized bank as letter of credit provider in a bond transaction to finance a 116 unit new construction apartment building in Riverhead, New York. Tax credit equity provided by Raymond James.
• Represented a nationally recognized bank in connection with the financing of the new construction of a 66 unit workforce housing development on two sites. 9% tax credits. Tax credit equity provided by Raymond James.
• Represented a nationally recognized bank in connection with the refinancing of 5 multifamily portfolios in the Mount Hope section of the Bronx, New York. HDC as primary lender with nationally recognized bank taking a 100% participation interest in HDC’s loan during construction phase. Additional subsidy loans made by HPD under the LIHTC Preservation (Year 15) Program. The Year 15 program designed to preserve the long term affordability of tax credit properties that have reached the end of the tax credit compliance period. Program works with the owner to develop a repositioning strategy to address the project’s financial and capital needs as part of the Year 15 tax credit investor exit review.
• Represented a nationally recognized bank in connection with a loan to finance the acquisition of a hospital and acute care facility in New Jersey. $18M term loan and $10M secured working capital line of credit.
• Represented a cooperative housing lender in connection with loans to refinance the underlying mortgage on cooperative buildings throughout New York City. Loans consisted of term loans and revolving lines of credit.