Lewis Brisbois Corporate Team Closes Seminal Public-Private Partnership Acquisition of Iconic Housing Development in Los Angeles

Los Angeles, Calif. (August 30, 2022) - A Lewis Brisbois cross-office and cross-practice team led by Los Angeles Partners Alexis Crump and Brant Dveirin – with Temecula Partner Edward Corwin, Tampa Partner Steven Holtzman, Fort Lauderdale Associate Samantha Vidal, and New Orleans Associate Jessica Hidalgo – recently closed a public-private partnership transaction on behalf of the Housing Authority of the City of Los Angeles.

The transaction involved the financing of the acquisition by an Avanath Capital Management company and the Housing Authority’s La Cienega LOMOD, Inc. of a 669-unit apartment complex in the Baldwin Hills area of Los Angeles. The Housing Authority’s participation in the project provides certain tax exemptions for the project and includes a low-income rent restriction for 400+ units for the next 55 years to protect low-income housing in a city that has fast-increasing rental rates. This was a seminal project for the Housing Authority that sets new standards for housing development in Los Angeles.

Ms. Crump serves as a co-chair of Lewis Brisbois’ Commercial Lending Practice and as a vice-chair of its Corporate and Italy Practices. Mr. Holtzman and Ms. Vidal are also members of the firm’s Corporate Practice. Mr. Dveirin and Mr. Corwin are members of Lewis Brisbois’ Real Estate & Land Use Practice, with Mr. Dveirin also serving as a member of the firm’s Public Agency & Municipal Law Practice. Ms. Hidalgo is a member of the Complex Business & Commercial Litigation, Insurance Coverage, and Bad Faith Litigation Practices.