Duane Morris Closes $36,000,000 Acquisition and Rehabilitation Transaction

A team of Duane Morris lawyers lead by Art Momjian represented Federation Housing, Inc. in the acquisition and rehabilitation of the Samuel Tabas Apartments located in Philadelphia, Pennsylvania. The $36,000,000 transaction is structured with tax-exempt bonds and 4% Federal Low income housing tax credits. The tax-exempt bonds were issued in two series through the Philadelphia Authority for industrial Development. The Federal low income housing tax credits were syndicated by the National Equity Fund to TD Bank.