Today on “Terra Firma: Conversations on Commercial Real Estate,” Stacey Tyler invites PACE Loan Group COO Bali Kumar to discuss a specialized loan product known as Property Assessed Clean Energy, or PACE financing, a program available in about 40 states where property owners take a voluntary special assessment on their property taxes in order to finance clean energy or capital expenditures projects. Often used for multifamily, hospitality, and senior living projects, property owners can avoid incurring double digit interest in debt financing by using as much PACE as possible to blend down the cost of capital. Stacey and Bali also delve into qualifications, conditions, and state-by-state laws regarding PACE, as well as its specific challenges in New York City.

Speakers:

Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Bali Kumar, COO, PACE Loan Group

Today on “Terra Firma: Conversations on Commercial Real Estate,” hosts Stacey Tyler and Stephen Tanico talk with tax attorneys and Lowenstein colleagues Sophia Mokotoff and Matthew F. Cammarata about important tax issues to keep in mind in the real estate world, such as long-term capital gains versus ordinary income, and holding property for investment versus holding property as part of your active trade or business. They also address how items such as transfer tax differ amongst states, the benefits of setting up an LLC or a pass-through entity, depreciation, and deductions; and they provide strategies for how real estate investors and developers can be more proactive from a tax perspective.

Speakers:

Sophia Mokotoff, Partner, Tax
Matthew F. Cammarata, Counsel, Tax
Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Counsel, Real Estate

Today on “Terra Firma: Conversations on Commercial Real Estate,” Stacey Tyler and Stephen Tanico speak with Harold Bordwin, principal and co-president of Keen-Summit Capital Partners, about recent depressed values in the real estate market, and the inverse relationship between cap rates and value. They discuss how property owners and lenders are dealing with the new landscape, whether converting office space to residential is viable in a post-Covid world, changing criteria for real property loans, and the lingering impact of the Silicon Valley Bank failure.

Speakers:

Stacey C. Tyler, Counsel, Real Estate; Deputy Chair, Cannabis Practice
Stephen Tanico, Counsel, Real Estate
Harold Bordwin, Principal and Co-President, Keen-Summit Capital Partners LLC