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Creative solutions for borrowers. Peck Shaffer has deep and broad experience with independent living housing for the elderly. We are experienced in both transactions structured as for profit qualified residential rental housing issues and nonprofit qualified 501(c)(3) issues. We have experience with a broad range of credit enhancement option, including bond insurance, letters of credit, mortgage insurance under the FHA programs, and guaranties under the USDA Section 538 program.
Assistance with application processes. We have assisted prospective borrowers with the many different types of application processes which may be necessary for a given issue, such as applications for 501(c)(3) status with the IRS or state volume cap applications and applications to request the issuance of bonds by conduit issuers.
Sophisticated tax analysis. Our Tax and Financial Analysis Department is dedicated to providing support for the transactional attorneys, analyzing the myriad of tax issues related to the financing of independent living facilities for the elderly. For example, we frequently assist with structuring financings which include tax-exempt, taxable, subordinated and/or junior subordinated debt, in order to comply with various federal tax requirements as to the use of bond proceeds.
National practice. Peck, Shaffer has served as bond counsel, underwriter’s counsel, and borrower’s counsel in financings for independent living facilities throughout the United States.
(For additional information, please see "HOUSING - Multifamily Housing.")