Peter Berrie's practice focuses on tax credits, particularly low-income housing tax credits, historic tax credits, and new markets tax credits, as well as real estate finance, and common interest community law.
In the housing area, Pete has represented nonprofit and for-profit developers using 4% and 9% tax credits, HUD-insured loans, HOME funds, CDBG, Section 8 contracts, tax-exempt bonds, FHA insurance, GNMA mortgage-backed securities, and tax increment financing.
Representative new markets tax credit deals include representing the borrower in a $35,000,000 new markets tax credit financing of a Chicago big-box retail store; a lender that funded the leverage loan for a tribal governmental center; and using "targeted populations" to allow using the credits for the renovation of a downtown Minneapolis dance and music performance center.
Besides working on development projects that require tax credits or other governmental subsidies, Pete has extensive experience with common interest communities, representing developers and lenders on condominium and planned community developments and loan workouts.
Prior to re-joining the firm in 1999, Pete worked with the Minnesota Attorney General's office where he represented the Minnesota Housing Finance Agency, and the Iron Range Resources and Rehabilitation Board, among others.
Pete is a frequent lecturer at seminars on affordable housing, new market tax credits, historic tax credits, and other real estate topics.