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Real Estate Finance

Shipman represents both lender and borrower clients in a variety of financing arrangements including first mortgage financing, mezzanine financing, intercreditor and co-lender arrangements, CMBS, revenue bond and other tax-exempt financing, equity investment, including preferred equity, and secondary market transactions.  

We represent national, regional, and local lending institutions, including banks, insurance companies, leasing companies, finance companies, private equity firms and other independent non-regulated entities, various state and local governmental entities and agencies, indenture trustees, retailers, manufacturers, health care providers (including hospitals), real estate developers and other business entities in secured and unsecured financing of all types of commercial real estate and corporate financing.

Our team’s spectrum of experience covers all asset classes in commercial real estate. We regularly represent clients in the retail, office, multi-family, co-location data center, medical, industrial, hospitality, warehouse, mixed-use, and entertainment sectors of the commercial real estate industry.

In addition to helping clients secure and originate financing, Shipman provides guidance when such financing requires modification, working out and enforcement.

 

Related Practices

  • Real Estate
  • Real Estate Finance
  • Real Estate Finance

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.

Insights

News

July 11, 2025

Cyd Smith Featured in Law360 Article Entitled "Shipman & Goodwin Adds Whitman Breed Real Estate Head"

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July 1, 2025

Shipman & Goodwin Welcomes Accomplished Real Estate Attorney Cyd Smith as Partner

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Events

September 16, 2025

Navigating Connecticut’s New Release-Based Cleanup Regulations & the End of the Transfer Act

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Primary Contacts

Scott Gerard Headshot
Scott M. Gerard

Partner

203.324.8195

sgerard@goodwin.com
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