People
Scott M. Gerard

Scott M. Gerard

Partner

203.324.8195

Stamford, CT

New York, NY

Scott Gerard is co-chair of Shipman's Finance Department, where he leads the Commercial Finance Practice. Scott represents national, regional and local lenders on commercial finance transactions of various types, including those involving complicated New York lien laws on construction loans as well as loan restructurings, workouts and loan sales.

Scott regularly represents commercial financial institutions and other primary lenders in structuring and closing a wide range of sophisticated loans, including permanent and construction loans, tax credit financings, affordable housing (involving bond financing, as well as Freddie Mac/FNMA Forward Commitments) and asset-based loans. He has worked on projects involving hotels, multifamily residential developments, health care and senior care facilities, manufacturing and industrial facilities, and retail properties. In addition to his work on behalf of lenders, Scott has represented major developers in all phases of real estate development and has advised on public-private partnerships.

In addition, he represents clients in a broad spectrum of corporate and real estate transactions. Drawing on his over 40 years of experience in private legal practice, he also serves as outside general counsel and trusted advisor to businesses with operations and interests in a range of industries, including financial services, health care, construction and real estate.

Recently, and in conjunction with the Connecticut Bankers Association, Scott was a panelist for a webinar on workout strategies and risk analysis, during which he focused on the specific concerns of banks and other lenders. Scott has extensive experience advising lenders on loan-related issues arising out of restructures and workouts, with particular respect to loans secured by various types of collateral.

Scott believes that developing a strong relationship with his clients and gaining a deep understanding of their businesses, transactions and objectives are key to effective representation.

Credentials

American University Washington College of Law, J.D., 1980
Boston University, B.S., Accounting, 1976, summa cum laude

Connecticut
New York

U.S. District Court, District of CT
U.S. Tax Court

Distinctions

Listed in The Best Lawyers in America®: Real Estate Law (2018-2026)
Listed in Chambers USA: Real Estate (2017-2019, 2024-2025)
AV Preeminent® Rated, Martindale-Hubbell

Professional Affiliations

New York Bar Association
Connecticut Bar Association: Real Estate, Tax and Business Law Sections
Connecticut Community Bankers Association
Real Estate Finance Association
New York Mortgage Bankers Association
Real Estate Lenders Association
Association for Corporate Growth (ACG)

Community Involvement

Center for Children's Advocacy: Board of Directors (2024-present)
Housing Development Fund (nonprofit): Board Member (2016-2022)
Connecticut Venture Group: Past Member
Jewish Senior Services: Board Member (2011-2014)
Town of Fairfield: Board of Tax Review (2001-2005)
Arena Football League: Board of Directors (1996-1998)

Experience

General

Affordable Senior Housing Construction Financing

Represented a regional bank in connection with the construction loan financing for a multifamily affordable senior housing development in Connecticut. The project involved approximately 140 units owned by a local housing authority. The transaction included a forward-committed permanent Freddie Mac Tax-Exempt Loan (TEL) and a Low-Income Housing Tax Credit (LIHTC) equity investment arranged by the lender. The firm has handled similar transactions utilizing Fannie Mae MBS as Tax-Exempt Bond Collateral (M-TEB) structures with both tax-exempt and taxable components.

Financing of Affordable Multifamily Housing Acquisitions and Rehabilitations

Represented a regional bank in connection with multiple acquisition and construction loans for affordable multifamily housing developments in Connecticut. The projects involved the acquisition and in-place rehabilitation of approximately 116 fully affordable housing units across two urban locations. The transactions included forward-committed permanent financing through Fannie Mae Mortgage-Backed Securities as Tax-Exempt Bond Collateral (M-TEB), Low-Income Housing Tax Credit (LIHTC) equity investments by the lender, and bond financing through the Connecticut Housing Finance Authority (CHFA), resulting in a complex, multi-layered financing structure.

$64MM Financing of Skilled Nursing Facility in New York

Successfully closed a $64,000,000 financing including term loan and line of credit on behalf of our banking client on a skilled nursing facility located in New York. This transaction required our team to develop a complicated loan structure involving fee and leasehold collateral due to New York Department of Health regulations. In addition to drafting a large number of complex loan documents, we assisted with due diligence, handled all associated liens, and reviewed all of the approvals from the New York Department of Health.

$17.5M Financing for the Rehabilitation of Existing Buildings into an Inn, Spa and Restaurant in Peekskill, New York

$17.5M Financing for the Rehabilitation of Existing Buildings into an Inn, Spa and Restaurant in Peekskill, New York.

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August 21, 2020