Sheila E. O’Leary
Ms. O’Leary represents public and private owners and developers of for-profit and nonprofit organizations throughout the country in connection with the purchase, sale, development, and financing of their government-subsidized properties.
She has been involved in the following kinds of transactions:
- Represented for-profit and nonprofit developers and owners in Section 236 prepayments and “decouplings” involving refinancing with multiple sources of private and public funding.
- Represented for profit clients with regard to mixed-finance transactions combining HOPE VI financing, tax credits, public housing funds, tax-exempt bonds, Section 8 tenant and project-based rental subsidies, HOME and CDBG funds.
- Represented private developers and owners in Mark-to-Market and Mark-up-to-Market restructurings, Section 8 renewals and modifications, enhanced voucher and project-based voucher approvals, and budget based rent increase approvals.
- Represented developers and owners in obtaining Transfer of Physical Asset and Form HUD-2530 Previous Participation approvals from HUD.
- Represented lenders and borrowers in financing and refinancing transactions involving mortgages insured by HUD under Sections 202, 221(d)(3) and 221(d)(4) of the National Housing Act.
Represented Transactions include:
- Represented a private for-profit developer in a ongoing five-phased transaction involving conversion of a major portion of a small city’s public housing stock to mixed finance housing.
- Represented a large public agency in assisting owners of 10 financially troubled federally-subsidized properties to refinance under the Section 236 interest reduction payment decoupling program.
- Represented several for-profit and non-profit owners of multifamily properties in New Orleans to refinance and rebuild properties destroyed in Hurricane Katrina.
Ms. O’Leary is a licensed member of the District of Columbia, Maryland and Massachusetts bars. Before joining Hessel and Aluise in 2004, Ms. O’Leary was in the real estate and affordable housing practice groups at Nixon Peabody LLP in both Boston and Washington, D.C. Ms. O’Leary is a graduate of Georgetown University, and received her J.D., cum laude, from the American University/Washington College of Law. Ms. O’Leary is admitted to the Bars of the District of Columbia, Maryland and Massachusetts.
