Affordable housing projects continue to evolve long after stabilization and initial compliance periods. As projects mature, owners, sponsors, lenders, and public agencies often evaluate opportunities to preserve affordability, recapitalize properties, modernize aging assets, restructure ownership, refinance existing debt, or introduce new sources of tax-credit equity. These transactions frequently occur during or after the initial LIHTC compliance period and require careful coordination among financing, tax, regulatory, operational, and ownership considerations.

Robinson+Cole advises developers, owners, sponsors, borrowers, lenders, housing agencies, and other transaction participants on resyndications, refinancing transactions, partnership transitions, sales, bond defeasance, and other preservation-related transactions. We help clients evaluate available options, coordinate stakeholders, and structure transactions that support the continued operation and long-term preservation of affordable housing communities.

Refinancing. We advise on refinancing projects, including transactions that replace or modify existing debt while preserving applicable affordability and subsidy arrangements. Our team evaluates consent and payoff requirements, coordinate new financing with existing loan and bond documents, and negotiate and document refinancing terms, amendments, releases, and closing deliverables. For taxable and tax-exempt bond transactions, we advise on bond authorization, documentation, tax, and closing requirements.

Resyndication. We help owners and sponsors evaluate and document resyndications that bring new tax-credit equity into an existing affordable housing property. We coordinate the proposed transaction with existing partnership, financing, regulatory, and extended-use requirements, and negotiate ownership, financing, tax credit compliance, and closing terms to support the project’s next phase.

Partnership Transfers, Sales + Exit Strategies. We assist sponsors, owners, and investors with partnership transitions, sales, and exit planning, including Year 15 planning, investor exits, and potential resyndications. Our lawyers help clients evaluate transfer restrictions, rights of first refusal, purchase options, valuation provisions, consent rights, tax considerations, and continuing affordability, financing, and regulatory obligations. We help document the selected approach and coordinate it with the project’s financing, regulatory, and affordability obligations.

Defeasance, Bond Redemptions + Preference Opinions. We advise on bond defeasance, redemptions, and related transactions, coordinating bond, loan, collateral, and closing requirements. Where a preference opinion is required, we prepare or coordinate the opinion and related deliverables based on the transaction structure and applicable requirements.