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Real Estate, Development & Construction| Client Successes

Joint Venture Revitalizes Historic Downtown Building

Situation

When Syndicate Partners LLC took on the redevelopment of the historic Syndicate Trust Building in St. Louis, the project required a law firm with requisite experience in the full spectrum of development incentives. The joint venture between Minneapolis-based Sherman Associates Inc. and Loftworks LLC of St. Louis looked to Husch Blackwell to handle the acquisition, financing and redevelopment details of the $86 million project.

Result

The project resulted in the rehabilitation of this 17-story building into a mix of retail space, affordable housing, market-rate apartment units, for-sale condominium units and parking. A variety of public and private sources of financing were accessed, including TIF, CID, federal and state Historic Tax Credits, federal and state Low-Income Housing Tax Credits, New Markets Tax Credits and multiple tranches of private debt and equity capital.

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