Catherine M. (Cumming) Riihiluoma

Developer Representation

• Represented developer in the acquisition and development of a $265 million multi-site and multi-phase development in Minneapolis, Minnesota. This project utilized equity investment, a construction loan, mezzanine financing, tax increment financing, and environmental clean-up grants.
• Represented developer in connection with the acquisition and development of a new construction project with total development costs of $32 million in Minneapolis, Minnesota. This project utilized tax-exempt bonds, 4% tax credits, opportunity zone credits, a forward Fannie Mae MTEB loan, tax increment financing, and environmental clean-up funds.
• Represented the Red Lake Band of Chippewa Indians in the development and financing of a $42 million development in Minnesota offering deep affordability, culturally sensitive design, and an on-site wellness center. This development utilized 15 sources of financing, including numerous forms of public debt, and required the replatting of multiple real estate parcels.
• Represented developer in connection with the land acquisition, entitlements, and construction of a $124 million joint venture development in Minnesota. This project utilized construction and mezzanine financing, tax-exempt bonds, 4% tax credits, and a forward Freddie Mac TEL loan.
• Represented developer in the acquisition and development of a $60 million joint venture development in Colorado. This project utilized construction and mezzanine financing, subordinate debt, tax-exempt bonds, 4% tax credits, and a forward Freddie Mac TEL loan.
• Represented developer in the acquisition and development of a $32 million joint venture development in Houston, Texas. This project utilized construction and mezzanine financing, subordinate debt, tax-exempt bonds, 4% tax credits, and a forward Fannie Mae MTEB loan.
• Lead counsel to borrowers in over 30 Fannie Mae refinances, totaling over $600 million.
• Lead counsel to developer in the acquisition and rehabilitation of a $16 million, 144-unit affordable senior development in Brooklyn Park, Minnesota.
• Lead counsel to developer in connection with the acquisition, construction and development of assisted living facilities in Minnesota, totaling over 400 units and $200 million in development costs.
• Lead counsel to developer in connection with acquisition and development a 120-unit apartment building in Cottage Grove, Minnesota with total development costs of $24 million, which utilized construction financing, tax increment financing, and grant funding.
• Represented borrowers in numerous HUD 221(d)(4) construction loans, totaling over $400 million, including the first Pilot Program loan closing in the country. These projects utilized joint venture financing, mezzanine debt, low-income housing tax credits, and various forms of public debt and grants.
• Lead counsel to developers in joint venture exits and limited partner buyouts.

Investor & Lender Representation

• Represented federal tax credit investors in connection with over $450 million in historic rehabilitations in Virginia, North Carolina, Kansas, Missouri, Iowa, Wisconsin, Minnesota, and Washington.
• Represented investor in $50 million of preservation equity financing for the acquisition of affordable housing developments in Ohio.
• Represented investor in connection with 2200 kW DC of solar power in Wilmington, Massachusetts.
• Representation of leverage lender in connection with a $12 million new market tax credit transaction in East Moline, Illinois. Responsible for drafting loan documents, reviewing title and survey, reviewing financing documents, and reviewing due diligence.
• Represented lender in connection with a construction loan, state bridge loan, and federal bridge loan for a historic tax credit developments in Illinois and Iowa.

Miscellaneous

• Represented developers in the drafting and negotiation of construction contracts and architect agreements totaling over $400 million.
• Represented for-profit developer in forming a 501(c)(3) employee relief fund, which received tax-exempt status to provide relief and assistance to Hurricane Harvey and Hurricane Irma victims.
• Represented client in formation of 501(c)(3) affordable housing developer.
• Represented non-profit client in the drafting and negotiation of a women’s shelter lease with the Red Cross.
• Represented landlords in the drafting and negotiation of commercial leases.