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Erin E. Mathern

Tell me everything, even the things you think aren’t important.

Contact: P /612.604.6609E /[email protected]

Education

William Mitchell College of Law, J.D., cum laude, 2003

• Burton Brief Finalist

Gustavus Adolphus College, B.A., Political Science, 1997

• First Decade Award Finalist

Bar Admissions

Minnesota

My Approach

I work with my real estate development clients as partners, providing practical advice from the inception of a project through closing. With a focus on the development of affordable housing, I facilitate the entitlement process, structure financing, coordinate with partners and investors, and ultimately advocate for the best outcomes for my clients and their projects. It really is a privilege to contribute to the construction and rehabilitation of well-planned and thoughtful housing developments – communities experience real, tangible benefits and more families have a decent place to live.

Because I got my start on  the business side of real estate development, I understand what it means to be on the other side of the desk – what it feels like when you don’t get a project approved or closed, and what it feels like when you do. These experiences motivate me. They give me insight and allow me to work more closely with my clients to understand their goals and concerns, and craft creative solutions for them.

Outside of my law practice, I am the Board Chair of the Minnesota Housing Partnership, a non-profit organization of community leaders working to expand access to affordable housing through research, public policy and capacity building in Minnesota and nationally. I also own a specialty real estate business with my family, focusing on renovations of historic buildings.

A Groundbreaking Moment in My Career

I grew up in my family’s real estate development business. I learned from the best – my dad. I spent the first decade of my career developing multifamily and mixed use projects, and experiencing the challenges and learning the lessons of the business. I now bring that experience to my practice at Winthrop.

Practice Areas

Practicing Tax Credit Financing & Syndication

My Experience

I represent for-profit and non-profit real estate developers with a focus on the development of affordable, multifamily housing around the country utilizing low-income housing tax credits, historic rehabilitation tax credits and other forms of structured finance. I specialize in transactions involving multiple funding sources, bringing together all the players in a deal, navigating the requirements and getting to closing.

Representative Matters

• Representation of an affordable housing developer in connection with the closing of a multi-site development in Hopkins, Minnesota with 101 units of existing and 42 units of new multifamily affordable housing. The transaction financing involved tax-exempt bonds, a HUD 221(d)(4) loan, 4% LIHTCs, equity and a bridge loan. The preservation site is fully Section 8, which allows our clients to accommodate those most in need of safe, affordable housing.
• Representation of a developer in connection with the closing of a 99-unit affordable housing development, which also includes 5,600 square feet of ground floor commercial space. The project is the first low-income housing tax credit and opportunity zone project to close in Minnesota.
• Represented the Red Lake Band of Chippewa Indians in the development and financing of Mino-bimaadiziwin (“the good life”), a first-of-its kind housing development in Minneapolis offering deep affordability, culturally-sensitive design, and an on-site wellness center with child care and health services.  Utilizing a spectrum of financing sources including tax-exempt bonds, 4% tax credits, City, County, Federal Home Loan Bank and Tribal funds, and requiring the consolidation of multiple real estate parcels, each with a complex set of title issues, this development demanded strategy, creativity, flexibility and focus from start to finish.
• Represented the developer in the first development in the United States to close using HUD’s new 221(d)(4) pilot program, allowing for the fast-track underwriting and closing of a 200-unit rehabilitation of affordable housing also incorporating tax exempt bonds, 4% tax credits and HOME funds.
• Represented non-profit developer in the refinance and rehabilitation of a 10-site affordable housing development in Minneapolis. Financing included two separate awards of 9% low income housing tax credits, bridge financing, sponsor financing and the release, modification and/or re-subordination of more than a dozen subordinate grants and loans.
• Represented non-profit developer in the refinance and rehabilitation of a 119 unit high-rise affordable housing development for seniors in a Minneapolis suburb utilizing tax exempt bonds, 4% low income housing tax credits, renewal and assignment of a Housing Assistance Payments contract and multiple pieces of subordinate debt. The project also included the re-platting of the site into two parcels allowing for the future construction of a second affordable project to provide workforce housing.
• Represented for-profit developer in the land acquisition, tax credit application process and financing of five affordable multifamily developments (40-70 units each) in five years in suburban Twin Cities locations. Financing included 9% low income housing tax credits, construction financing, end-loan negotiation, subordinate debt and tax increment financing.
• Represented joint-venture development partners in securing and utilizing $8.5 million in federal and state historic rehabilitation tax credits, bridge and HUD-insured construction financing, and grants and other public funds to finance the $35 million rehabilitation and conversion of a furniture manufacturing facility in Minneapolis dating from 1897 into 80 residential lofts and apartments and public and commercial space.
• Represented non-profit developer in the refinance and rehabilitation of an affordable, multifamily housing development in outstate Minnesota utilizing USDA RHS 538 funds, MHFA Rural Development funds, City DEED funds and Federal Home Loan Bank funds.
• Representation of a developer in connection with three new affordable housing communities in Eden Prairie, Shakopee and Mankato, with a combined total of more than 170 units of affordable housing, including units reserved for families and individuals moving out of homelessness as well as for people with disabilities.

Awards

Best Lawyers in America®

Real Estate Law, 2022-2025

Practicing Real Estate Development & Transactions

My Experience

My background is in real estate development. I spent more than a decade as the development director of a builder/developer focusing on urban, adaptive re-use projects including multifamily condominiums and apartments and mixed-use projects. I also have significant experience in project planning, agency finance, acquisition and disposition, leasing, easements, title matters, and the representation of businesses and business owners in matters of strategic planning and business formation.

Representative Matters

• Representation of refinances for a developer in connection with three apartment complexes, in Inver Grove Heights, MN, Shoreview, MN and Burnsville, MN, totaling more than $50 million. All three deals utilize Fannie Mae’s Green financing, which benefits borrowers investing in energy and water efficiencies. Each apartment complex will benefit from the refinances by receiving aesthetic updates and repairs to increase energy efficiencies by at least 30%, of which a minimum of 15% will be projected energy savings.
• Represented development partnership in the acquisition of a high-rise apartment tower in Minneapolis Lakes area and the subdivision of the underlying real estate to facilitate the construction of 700+ new units of housing utilizing equity investment, conventional financing, tax increment financing and environmental clean-up grants.
• Represented developer in the sale of a 200+ unit multifamily development and the acquisition of two value-add multifamily developments in Dallas, Texas utilizing a private equity offering, Fannie Mae first mortgage financing, and a reverse-1031 tax deferred exchange. Total project value of $120 million.
• Represented developer in the site selection, land acquisition, entitlements, construction and permanent financing and tax increment financing for two, 92-unit senior assisted living and memory care developments in suburban Twin Cities locations.

Awards

Award of Recognition for Adaptive Reuse of 333 Maiden Lane, Saint Paul

Saint Paul Heritage Preservation Commission and Saint Paul Chapter of the American Association of Architects

Best Lawyers in America®

Real Estate Law, 2022-2025

Honors & Awards

Best Lawyers in America®

Real Estate Law, 2022-2025

Notable Woman in Law

Twin Cities Business, 2022

40 Under Forty Honoree

Minneapolis/St. Paul Business Journal, 2015

Award of Recognition for Adaptive Reuse of 333 Maiden Lane, Saint Paul

Saint Paul Heritage Preservation Commission and Saint Paul Chapter of the American Association of Architects

Outstanding Advocate Award

Minnesota Housing Partnership, 2023

MSBA North Star Lawyer

Pro Bono Service, 2023

Associations & Memberships

Minnesota Housing Partnership

Chair, Board of Directors, 2020

NAIOP

(Commercial Real Estate Development Association)

Volunteer Lawyer’s Network

University of St. Thomas School of Law

Guest Judge/Lecturer

Minnesota Women Lawyers

Minnesota Commercial Real Estate Women

(MNCREW)

Minnesota Urban Debate League

Advisory Board Member

Winthrop & Weinstine

Member, Board of Directors
Member, Recruiting Committee
Co-chair, Summer Associate Program