Related Areas


Chapman and Cutler’s Multifamily Housing Finance Group is a sub-group of the firm’s national public finance practice and utilizes the vast resources of the firm, including the tax, securitization and banking departments, to develop innovative structures and provide comprehensive legal services to today's sophisticated issuers, borrowers and developers.

Members of Chapman and Cutler’s Multifamily Housing Finance Group have over 70 years of combined experience in serving as counsel to non-profit and for profit entities, state agencies and housing finance corporations on a wide variety of bond issuances, refundings and restructurings. Our multifamily housing practice has grown substantially over the past two decades in order to meet the growing need from clients for “cutting-edge” ideas and structures to solve various legal issues in a market that changes continuously.

We have a national reputation as a leading provider of multifamily housing legal services as we have represented various issuers in several states to assist them in navigating the often-complex state and local regulatory and compliance laws in connection with financing multifamily housing projects.

National Pool Securitizations

The firm has participated as the lead counsel in several pool securitizations of multifamily apartment housing projects and restructurings involving these kinds of transactions. These transactions are extremely complex involving housing projects located in several different states being securitized under one structure through the issuance tax-exempt and taxable bonds with varying levels of subordination and collateralization. Based on our national experience, we are able to bring the firm’s resources and experience to work on these transactions in order to close them with an unsurpassed level of efficiency and value.

Representation of Developers

Utilizing the firm’s extensive experience in our 501(c)(3) Not-For-Profit Group and nationally recognized attorneys in taxation, including partnership taxation, we have participated in various state-of-the art structures for rated and unrated, noncredit-enhanced tax-exempt bonds. Based on our significant housing experience and attention to state and local laws, we have worked with issuers and developers to provide financing structures that provide exemption from sales and ad valorem taxation. Also, Chapman and Cutler has developed a substantial practice in representing clients with respect to tax credit financing transactions, including transactions involving low-income housing tax credit programs.