The Bond Buyer
has selected the $500 million inaugural bond issuance under the "No Place Like Home" program as its 2020 Deal of the Year. An Orrick team led by Jenna Magan
and Steve Spitz
advised the California Health Facilities Financing Authority on the bond issuance which will finance permanent supportive housing for the mentally ill. The Bond Buyer
described the winning initiative as a “complex deal that required creative solution making to pull off, and it introduced a new, innovative credit and a replicable financing model, that attracted broad interest domestically and internationally."
Earlier this month, Financial Times
recognized the 833 Bryant Project at its Innovative Lawyers North America Awards. A better solution for financing affordable housing – this project features an innovative capital structure developed by Orrick. An Orrick team led by Justin Cooper
and Steve Spitz advised the California Housing Finance Agency on the multimillion-dollar financing for the development of permanent supportive housing for the homeless in San Francisco.