The Bond Buyer Financing Military Housing Privatization Conference
This year's event will focus on the continuing expansion of the military's housing privatization program. Housing quality is among the leading reasons that military personnel failed to re-enlist and the government launched a major initiative to improve housing quality. Rather than waiting for capital to be allocated through the Federal budget process, the military concluded it would be faster, and possibly cheaper to enlist private support. Legislation authorizing the “privatization” of 160,000 units of on-base housing through 50-year leases was passed. Since then, 75,000 units have been privatized, and the market continues to grow. The Bond Buyer’s 2nd Annual Financing Military Housing Privatization Conference is the place for all deal participants – developers, investment bankers, lawyers, guarantors, and investors – to discuss the latest structural innovations that are cutting costs in the market and improving the delivery of housing to this important constituency.
Mr. Nesbitt serves as co-chair of the firm's Military Installations Redevelopment Team. He has extensive experience in all aspects of Military Housing Privatization Initiative (MHPI) and has been involved with privatizing more than 20,000 housing units. Working with Department of Defense (DoD), Mr. Nesbitt was involved in structuring the MHPI and in closing the first MHPI transactions for the Army (Fort Carson), the Navy/Marines (Camp Pendleton Phase I) and the Air Force (Lackland AFB Phase I).
Mr. Freedman has assisted the Department of Defense (DoD) in its efforts to privatize military family housing since early 1995, when he worked on the legislation that became the Military Housing Privatization Initiative. As one of the Department’s first two housing privatization contractors, he represented both DoD and the U.S. Air Force with respect to the privatization program generally and in individual transactions. He currently represents developers, investment bankers, credit enhancers and other private market participants in U.S. Army, Navy, Air Force and Marine Corps transactions, having closed deals with a value in excess of $3 billion. He has also represented lenders and developers in the financing of housing pursuant to DoD’s section 801 and 802 leasing programs.