Overview Julia Livingston, a Director, focuses on complex partnership transactions, including the tax and securities law aspects of limited liability companies, limited partnerships and joint ventures. Julia represents sponsors in creating real estate ownership vehicles, unregistered investment companies, real estate equity or mortgage funds, family partnerships, and partnerships for the conduct of ongoing businesses. Her practice includes low-income housing tax credits, historic tax credits, new markets tax credits, carried interests, UPREITs, equity kickers, redemption and retirement of partners, and the participation by retirement plans and other tax-exempt entities and institutional investors in partnerships of all kinds. Representative Experience ˇ Representated a limited liability company selling a controlling interest to a new partner in a transaction designed to fit within a safe harbor to the disguised sale rules. ˇ Represented a group of real estate developers in a joint venture with AEW for development of 184 apartment units on 5 acres in Somerville, Massachusetts. ˇ Representated a major REIT in two joint ventures with separate developers, one in northern California, one in Seattle. ˇ Planned a deferred like-kind exchange in which our client disposed of developed property in exchange for land where a "build to suit" development occurred during the 180 day like-kind deferral period. ˇ Created a fund organized as a limited partnership, with a private offering of $50 million of limited partner interests, to invest through a joint venture with a hotel operator in hotel acquisition opportunities. ˇ Represented a fund purchasing low-income housing tax credits in a rehabilitation project with four layers of debt, including tax-exempt bonds. ˇ Negotiated a series of transactions that separated the ownership and control of approximately 15 substantial operating real estate assets between our client and a close family member. ˇ Represented a retail real estate developer in joint venture with residential real estate developer for multi-phase mixed-use new construction project. ˇ Represented a retail real estate developer in joint venture with existing owner of 240,000 sq.ft. mall property to extend ground lease, re-tenant and re-develop without "phantom income" for existing owner. ˇ Represented a real estate developer in joint venture including a developer of adjacent parcels and two groups of existing property owners for mixed use new construction project in dense urban location. ˇ Admission of new partner to 5-star Mandarin Hotel and luxury residential and retail development in full redemption of one development partner and partial redemption of another, after separating out the residential condominium component of the project. Professional and Community Involvement ˇ Task Force which drafted the Massachusetts LLC statute ˇ Board of Directors, Community Resources for Justice, Inc. ˇ Member of the Corporation, The Winsor School ˇ New England Women in Real Estate (NEWIRE) ˇ Boston Bar Association Awards and Recognition ˇ Martindale Hubbell Peer-Review Rated AV Preeminent ™ Advisories January 2011
State Tax Credit Encourages Expansion of Market Rate Housing Stock September 2009
HUD and Treasury Issue Guidance on the Tax Credit Assistance Program ("TCAP") and the Tax Credit Exchange Program ("Exchange Program") September 2009
12-Month Extension for Disbursement of Section 1602 Funds to certain Low Income Housing Tax Credit ("LIHTC") Projects August 2009
Broad Housing Tax Credit Consensus Reached May 2009
Treasury and HUD Issue Guidance on the Tax Credit Exchange Program and the Tax Credit Assistance Program February 2009
The American Recovery and Reinvestment Act and its Impact on LIHTC July 2008
The Housing and Economic Recovery Act of 2008 Publications & Mentions June 2009
"How is the Best Way to Structure Joint Ventures" Seminars & Events Panelist, "Understanding and Utilizing REITs and Real Estate Joint Venture Agreements", MCLE 2009 |