Doug Banghart represents major institutional investors, developers, local governments, community development entities (CDEs), and nonprofit organizations, primarily in real estate redevelopment projects using historic rehabilitation tax credits (HTCs) and new markets tax credits (NMTCs).
He has extensive experience in closing new markets tax credit leverage fund transactions, including acting as lead attorney on the largest single qualified equity investment ever closed, and twinned historic and new markets tax credit transactions. Doug also has represented taxpayers in tax controversy matters involving tax credits, developers purchasing and selling tax credit properties during their compliance periods, and conventional lenders financing tax credit projects.
He has represented the investors, CDEs, borrowers, and developers in hundreds of tax credit transactions including a significant number of state and federal combined historic and new markets tax credit transactions.
Doug speaks frequently on issues related to partnership taxation and the legal and tax implications of various incentive programs. He is a member of the Massachusetts bar and is on associate ...
- Representative Transactions
- Represented the foreign developer of a 2.1+ million sq. ft., $180 million rehabilitation of a mixed-use development in Atlanta, Georgia.
- Advised a publicly traded financial institution in its investment in the rehabilitation of a historic building in Cortland, New York using state and federal historic tax credits.
- Successfully represented a confidential taxpayer in the audit of a transaction involving state and federal historic tax credits and federal new markets rehabilitation tax credits.
- Represented a publicly traded bank in connection with the financing of a newly constructed sports and health facility containing approx. 120,000 square feet of enclosed athletic courts, medical space, and six outdoor multipurpose fields using federal new markets tax credits.
- Represented a $12B+ foreign investor in its acquisition and refinance of multiple historic tax credit projects midstream through the compliance periods.
- Represented a publicly traded bank in four rounds of new markets tax financing with respect to a large, integrated health care system.
- Represented a tax credit syndicator in connection with its first-ever conventional private equity investment.
- Presentations & Teaching
- American Bar Association – Real Property, Trust and Estate Webinar: IRS Issues Historic Tax Credit Safe Harbor Guidance, March 26, 2014
- The Tax Exempt Use Property Rules: 50 Ways to Lose Your HTCs, panelist, Novogradac Company LLP, Historic Tax Credit Conference, April 6, 2011
- Government Funds and NMTCs, panelist, Novogradac & Company New Markets Tax Credit Conference, June 10, 2010
- Finding Multifamily Housing and Commercial Real Estate Financing Opportunities, panelist, New Approaches to Using New markets Tax Credits and Historic Credits to Bridge the Gap, Finding Multifamily Housing Financing Opportunities During (and After) the Credit Crunch, November 10, 2009
- Leveraged Loans and Uncle Sam, panelist, New Markets Tax Credit Investors Conference, October 22, 2009
- Finding Multifamily Housing Financing Opportunities During (and After) the Credit Crunch – New Approaches to Using New Markets Tax Credits and Historic Credits to Bridge the Gap, September 21, 2009
- 8th Annual New Markets Tax Credit Conference, Exit Strategies: Steps to a Successful Conclusion, June 11, 2009
- Community Impact – What It Looks Like and How It Can Be Measured, Novogradac Company LLP, panelist, 2009 New Markets Tax Credit Investors Conference, January 29, 2009
- Uncovering Funds, Novogradac Company LLP, panelist, New Markets Tax Credit Conference, October 23, 2008
- Novogradac Company LLP, panelist, New Markets Tax Credit Conference, January 24, 2008
- Fifth Annual New Markets Tax Credit Spring Conference, panelist, Novogradac Company LLP, June 7, 2006
- American Bar Association’s 15th Annual Conference and Annual Meeting on Affordable Housing and Community Development Law, panelist, May 24, 2006
- Novogradac Company LLP, panelist, New Markets Tax Credit Conference, January 25, 2006
- The Climate Report – First Quarter 2021 (February 2021 Newsletters)
- JONES DAY TALKS®: Tax Credits: The Original ESG Investment? (September 2020 Podcasts)
- Renewable Energy Projects Left Unassisted by Recent Legislation May Face Critical Timing Constraints in Qualifying for Production Tax and Investment Tax Credits (May 2020 Newsletters)
- Treasury Issues Guidance Clarifying Aspects of Opportunity Zone Program (October 2018 Alerts)
- Incentives for Qualified Opportunity Zone Investments: Check Your Locations (August 2018 Commentaries)
- Historic Tax Credit Transactions in the Wake of Revenue Procedure 2014-12, Real Estate Issues (June 2014)
- Why Prepaid Rent (Unfortunately) Isn’t Nonqualified Financial Property – Part Two, Novogradac Journal of Tax Credits (July 2010)
- Why Prepaid Rent (Unfortunately) Isn’t Nonqualified Financial Property – Part One, Novogradac Journal of Tax Credits (June 2010)
- How Reasonable are Reasonable Expectations Opinions? Novogradac Journal of Tax Credits (March 2010)
University of Florida, LL.M in Taxation, 2007
Washington & Lee School of Law, J.D., 2000
College of Wooster, B.A., 1997
Prior Law Firm Experience
Holland & Knight, LLP