Historic, New Markets Credit Equity Markets Improve
By Caitlin Jones
1 min read
Tax Credit Advisor, February 2011: The historic rehabilitation tax credit equity market is a bit improved from last fall in terms of the availability of equity and credit pricing to developers, say sources. The new markets tax credit (NMTC) market, because of the recent reauthorization of the program through 2011, should see increased flow of investor equity in the near future.
“We haven’t seen a lot of large [stand-alone historic credit] deals closing. But I’ve seen more on the table than we’ve had before. We continue to see a lot of smaller deals,” said Eric Darling, of Boston-based Carlisle Tax Credit Advisors LLC, which syndicates historic credit investments for investors including Chevron, the largest.
He added, “At the end of [2010], we started to see a number of larger deals that were in active discussions with lenders à they were getting back on the table. Some of those are moving forward, some of them aren’t.”
