Real Estate and Finance

Affordable Housing

Representative Matters

  • Caleb Foundation - The Olde Woolen Mill in North Berwick, Maine was merely gathering cobwebs when the Caleb Foundation saw an opportunity to create housing for low-income seniors.  To help finance it, our tax attorneys were instrumental in structuring one of the very first syndications under Maine's recently expanded historic tax credit program and synchronizing the requirements of the state credit investor with the federal historic tax credit and housing tax credit investors.  We successfully obtained favorable financing necessary to green-light renovations to 40 apartments for senior residents.
  • Acadia Hospital and Spring Harbor Hospital - Successfully worked on behalf of Acadia Hospital and Spring Harbor Hospital, Maine's two non-profit psychiatric hospitals to obtain enactment of supplemental appropriation of $5.6 million to treat indigent mentally ill patients. Handled legislative approval of the appropriation necessary to make up for significant shortfall in so-called disproportionate share of hospital (DSH) Medicaid pool.
  • American Housing Preservation Corporation - When American Housing Preservation Corporation (AHPC) wanted to acquire 1600 new low-income housing units in Colorado and Wyoming, we negotiated and closed the $91 million acquisition. The deal involved 21 different property owners, and included the permanent and bridge debt and low income housing tax credit equity financing.
  • Housing Initiatives of New England Corporation - Preti Flaherty coordinated for Housing Initiatives of New England Corporation, a non-profit provider of affordable housing for seniors in both Maine and New Hampshire, a $30 million financing to assure the expansion, refurbishment and sustainability of HINEC's seven New Hampshire complexes. Our attorneys coordinated the financing, acquisition, leasing and tax structuring related to the tax-exempt bond financing provided by the New Hampshire Housing Finance Authority.
  • Laconia Housing Authority - Preti Flaherty represented Laconia Housing Authority in the revitalization of the former Scott & Williams knitting machine mill in downtown Laconia, New Hampshire. As general counsel on the $13 million project, which involved a complete transformation of the mill into three stories of affordable housing, plus commercial space on the first floor, we assisted with the acquisition of the mill from a Massachusetts corporation and coordinated the financing, which involved tax-exempt bonds and federal low-income housing tax credits. We also coordinated the transaction with several lenders, created a limited partnership for investors interested in the tax credits, and represented the Housing Authority in the sale of the commercial space on the first floor to businesses that will serve the needs of the residents: a senior wellness center, a family health clinic, and an affordable daycare facility.

Firm Highlights

Press Coverage

Maine Media Organizations Oppose Foreign Electioneering Ban

Question 2 on Maine’s November ballot asserts that corporations owned or controlled by foreign governments do not have the same rights to political speech as companies here in the U.S. and that foreign governments should be prohibited...


Remembering Preti Flaherty Founder Robert F. Preti

We at Preti Flaherty are deeply saddened by the passing of one of our founding partners and longtime friend, Robert Preti. Bob was not just a part of our firm; he was a part...


Eric Osterberg Presents Webinar on IP Rights and Infringement With Podcasts and Livestreaming

Eric Osterberg joins a panel of industry experts to present “IP Rights and Infringement With Podcasts and Livestreaming.” The panel focuses on guiding intellectual property counsel on the IP issues that arise when creating...


Preti Flaherty Welcomes Employment Law Attorney Brooke K. Haley to the Firm

Preti Flaherty is pleased to announce that attorney Brooke K. Haley has joined the firm’s Employment Law Practice Group as a Partner. Brooke will work primarily from the firm’s Portland office. Brooke’s practice centers...

Press Coverage

Bangor Releases Unredacted Files on Effort to Close Homeless Encampment

Following a five-month effort by local media, represented by attorney Sigmund Schutz, chair of Preti Flaherty's Media Law Practice Group, the City of Bangor finally released unredacted records related to its attempts to close a...

Press Coverage

Maine Center for Public Interest Reporting Wins Public Records Dispute with York County Jail


Preti Flaherty Ranked Among Best Lawyers 2024 Best Law Firms

Best Lawyers has ranked Preti Flaherty among the Best Law Firms for 2024. To be eligible for ranking, a law firm must have at least one attorney named in the 2024 Best Lawyers in...


November 7, 2023 Election Results

Maine’s November 2023 statewide elections were exclusively referendum questions, four were citizen initiatives, and four were proposed amendments to the Maine Constitution. Of these, Questions 5, 7 and 8 were placed on the ballot...


Maine Workers’ Compensation Update - November 2023

The following is an overview of developments with respect to proposed legislation as well as new procedures on independent contractor determinations, medical fee schedule updates, and the use of updated Board forms, including medical...


FRBP 9006 Doesn't Take Vacations

Bodie Colwell of Preti Flaherty’s Creditors' Rights & Bankruptcy Group, has authored the article "FRBP 9006 Doesn't Take Vacations," appearing in the October 2023 issue of the American Bankruptcy Institute's Young & New Members Committee newsletter...