Katten Advises The Pacific Companies on $169 Million Affordable Housing Development in Los Angeles

A Katten team led by Los Angeles-based Affordable Housing and Community Development Partners David Cohen and Michelle Poncetta represented The Pacific Companies in the closing of a $169 million financing for the new construction of Twin Park Landing, a 275‑unit affordable housing community in the Reseda neighborhood of Los Angeles. The Katten team advised on a complex capital structure that included a long-term ground lease, senior tax-exempt bonds, subordinate bonds and Low-Income Housing Tax Credit equity. Upon completion, Twin Park Landing will provide affordable homes for households earning between 30 percent and 70 percent of area median income, advancing critical housing goals in North Los Angeles.