Ofer is a transactional project finance attorney focused on representing developers in the acquisition, disposition, financing, and development of multi-family affordable housing projects, including mixed-income projects, mixed-use projects, transit-oriented developments, and A-B partnerships. Ofer is recognized in California and nationally as a leading attorney in affordable housing finance and development, and has extensive experience in structuring complex financings utilizing tax-exempt bonds, low income housing tax credits, property tax exemptions, and other public subsidies. Developers rely on Ofer's technical legal experience, in-depth knowledge of current debt and equity market terms and participants, and his calm and practical problem-solving approach to meet their business goals.
Recognized Leader In Affordable Housing
Ofer has been involved in the financing and development of hundreds of thousands of units of mixed-income and low-income restricted rental housing throughout the United States, assisting for-profit and non-profit developers in generating and implementing the complex financial engineering necessary to construct and operate these projects. He is considered one of the leading authorities on California's property tax exemption for affordable housing and played a key role in the adoption of regulations clarifying the exemption. He also is a leading attorney on affordable housing issues under California's landmark 2011 redevelopment agency elimination statute (California Assembly Bill ABx1 26). Ofer is sought out nationally for his extensive experience in purchase and sale transactions in which a buyer either seeks to preserve and improve an existing low-income restricted apartment community, or seeks to convert an unrestricted property into a new low-income restricted apartment community.
Broad Residential Rental Real Estate Industry Experience
Ofer's experience spans all aspects of acquisition, disposition, and financing of market rate, mixed-income, and low-income restricted residential rental properties, including structuring, negotiating, and documenting joint venture arrangements on behalf of developers and investors, and representing borrowers in all aspects of real estate-secured debt financings, mezzanine loan financings, and other structured debt transactions.