Multi-family Financing

In its long history, The Lawson Companies has refinanced dozens of residential and commercial properties that account for more than $100 million in capital transactions.

The breadth of our experience in finance includes:

  • Conventional bank loans
  • Institutional loans (life insurance companies and pension funds)
  • Virginia Housing Development Authority (VHDA) Bonds (both
  • taxable and tax-exempt)
  • Conduit loans (loans that are later packaged and sold as mortgage-backed securities)
  • Tax-exempt municipal bonds (both housing authority bonds and industrial development bonds). Also municipal issues for construction financing.
  • Tax credit financing

Recent transactions include:

  • Tax-exempt bond issuance for 787 units in eight apartment properties, totaling $27 million in loan proceeds.
  • Financing for 1,080 units in seven apartment communities, amounting to more than $24 million in loan proceeds.
  • $4.3 million dollar conduit refinancing loan with $1 million construction loan component.

Bond Financing Experience

  • VHDA portfolio bond issuance - $27 million for the acquisition and renovation of eight apartment properties.
  • Portsmouth Estates Apartments 2013 Portsmouth Redevelopment and Housing Authority bond issue.
  • Mercury Square Apartments 2013 Hampton Redevelopment and Housing Authority bond issue.
  • Almeda Avenue Office Building 2013 Norfolk Redevelopment and Housing Authority industrial development bond issue.
  • Bob Lawson is also a past Chairman of the Virginia Public Building Authority. During his tenure he was responsible for the issuance of more than $500 million dollars in bonds to fund infrastructure projects all over the state.

Experience in Layered Financing (including LIHTC)

  • Tax credits combined with tax-exempt bond financing:
  • Portsmouth Estates Apartments, Portsmouth, VA 127 Units

Tax credits combined with tax-exempt bond financing and project-based Section 8 assistance:

  • Oak Park Apartments, Norfolk, VA 40 Units
  • Forest Cove I & II Apartments, Chesapeake, VA 201 Units
  • Canebreak Apartments, Summerville, SC 120 Units

Tax credits combined with tax-exempt bond financing, project-based Section 8 assistance, and Section 236 Interest Reduction Payment (IRP) Decoupling:

  • Forest Cove III Apartments, Chesapeake, VA 101 Units
  • Hunters Point I & II Apartments, Chesapeake, VA 157 Units
  • Lexington Park Apartments, Norfolk, VA 180 Units

Virginia Housing Development Authority (VHDA) Experience

  • The Lawson Companies has a relationship with VHDA that dates back to the early 19702019s.

VHDA financed projects

  • Belle Hall Apartments, Portsmouth, VA 120 Units
  • Forest Cove I, II & III Apt, Chesapeake, VA 302 Units
  • Greenlakes Apartments, Virginia Beach, VA 150 Units
  • Hodges Ferry Apartments 88 Units
  • Hunters Point I & II Apartments, Chesapeake, VA 157 Units
  • Lexington Park Apartments, Norfolk, VA 180 Units
  • Oak Park Apartments, Norfolk, VA 40 Units
  • Cedar Creek Apartments, Portsmouth, VA 104 Units
  • Second Lake Village Apt (prior to refinancing in 1998) 80 Units

Low income housing tax credit compliance. VHDA monitors tax credit compliance in the state of Virginia, so we have regular contact with their representatives. Our property management staff also regularly attends tax credit training seminars hosted by VHDA.