Counsel

Philip C. Spahn

Real Estate

pspahn@sidley.com

Chicago +1 312 853 7015

- Letter
- A4

PHILIP SPAHN represents banks and other institutional investors with respect to equity investments in real property transactions generating Low-Income Housing Tax Credits under Section 42 of the Internal Revenue Code or Rehabilitation Tax Credits for historic structures under Section 47 of the Internal Revenue Code, including direct investments and secondary market transactions.

Philip has been recognized by The Legal 500 for Real Estate and Construction (2011).

Experience

A major financial institution in connection with a US$209 million low-income tax credit equity investment for the acquisition and rehabilitation of 14,465 units over thirteen scattered-site locations across New York City in partnership with the New York City Housing Authority.
A major financial institution in connection with a US$150 million low-income tax credit equity investment for the acquisition and rehabilitation of 875 apartment units together with retail and commercial spaces over six scattered-site locations in the Bronx, Brooklyn and Manhattan, New York.
An institutional non-bank investor in connection with its US$21 million indirect investment of low-income tax credit equity in a 103-unit, ground-leased development located in Rochester New York.
An institutional non-bank investor in connection with its US$37 million indirect investment of low-income tax credit equity in a 114-unit, ground leased development, together with ancillary commercial space, located in Seattle, Washington.
A major financial institution in its US$28 million indirect investment of low-income tax credit equity in 90-unit, mixed-income development located in Los Angeles, California.
A major financial institution in its US$17.8 million indirect investment of low-income tax credit equity in 60-unit, low-income development, including ancillary community space, located in Corvallis, Oregon.
A major financial institution in connection with a US$118 million federal low-income tax credit equity investment for the construction of 359 units in a mixed-use development ground leased from the City of New York in the Bronx, New York.
A major financial institution in connection with a US$65.5 million low-income tax credit equity investment for the construction of 136 units in East Palo Alto, California.
A major financial institution in connection with a US$63 million low-income tax credit equity investment for the acquisition and rehabilitation of 446 units in Chicago, Illinois, incorporating federal historic tax credits and utilizing a lease pass-through structure.
A major financial institution in connection with a US$64.5 million low-income tax credit equity investment for the construction of 237 units in a mixed-use building in Queens, New York.
A major financial institution in connection with a US$123.5 million low-income tax credit equity investment for the construction of 461 units in a mixed-use development ground leased from the City of New York in Queens, New York.
A major financial institution in connection with a US$85 million equity investment for federal low-income tax credits, energy tax credits and state brownfield tax credits, in connection with the construction of 251 apartment units and ancillary commercial space in the Bronx, New York.
A major financial institution in connection with a US$43 million low-income tax credit equity investment for the construction of 461 units apartment units and ancillary commercial space in Washington, D.C.
A major financial institution in connection with a US$164 million low-income tax credit equity investment for the construction of 700 units in 49 residential buildings in San Jose, California.
A major financial institution in connection with a US$18 million low-income tax credit equity investment for a master-lease interest in a new construction development of 71 units in San Francisco, California.

Philip is a member of the Board of Directors of Valparaiso University.

Credentials

Admissions & Certifications

U.S. District Court, N.D. of Illinois - General
U.S. District Court, N.D. of Indiana
U.S. District Court, S.D. of Indiana
Illinois

Education

Valparaiso University School of Law, J.D., 1995
Valparaiso University, B.A., 1992 (cum laude)