Sean Leonard

Sean B. Leonard is an industry-leading low-income housing tax credit (LIHTC) attorney who serves as lead transaction counsel to major institutional investors, syndicators and developers financing affordable housing. Based in Boston, he is a member of Holland & Knight's Tax Credit Transactions Practice. He uses his deep experience in the LIHTC market to help clients structure, negotiate and close complex affordable housing investments. He also advises on New Markets Tax Credit (NMTC) transactions and other tax-advantaged community development investments.

LIHTC. Investors, syndicators and developers call on Sean for guidance in the most complex LIHTC transactions. He advises on the full range of LIHTC investments, including single-property direct investments, portfolio investments in proprietary and multi-investor funds, and affordable housing preservation transactions on both the buy and sell side. Clients value his practical mindset and ability to distill complicated technical issues and execute the closing of complex transaction structures.

NMTC. Sean helps investors, community development entities (CDEs), developers and lenders structure, negotiate and close NMTC transactions. These include deals that layer federal and state historic tax credit financing, combine multiple sources of equity and debt, or involve multiple investors and CDEs. His projects include charter schools, community facilities, transit and telecommunication systems, hotels, college and university facilities, solar facilities, supermarkets, and manufacturing and production facilities.

Distressed Tax Credit Investments and Portfolio Asset Management. When LIHTC and other tax credit investments underperform, Sean helps clients protect their positions. He advises clients on dispute resolution, contract interpretation and pre-litigation enforcement, management company and general partner removals, negotiations with lenders and agencies in foreclosures, refinancings and loan workouts and the disposition of aged assets at the end of the compliance period. His perspective comes from his earlier role at a leading tax credit syndicator, where he oversaw underperforming assets and developed workout strategies to preserve investor equity.

A frequent speaker and author on tax credits, Sean pairs transactional know-how with hands-on business experience. He helps clients manage affordable housing and community development investments across their full life cycle. He also brings a background in traditional corporate transactions, including mergers and acquisitions (M&A), venture capital, securities offerings and commercial loan facilities.