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Military Housing Privatization

Military Housing Privatization began in the mid-1990s when Congress recognized that nearly half of the houses on Air Force bases were in dire need of renovations and repairs. According to the Office of the Secretary of Defense, military personnel living in high-quality base housing re-enlist at a higher rate than those who are stationed at bases with low-quality housing. However, the cost of renovating or building new housing did not fit into military budgets and so the push to privatize housing began.

Military housing privatization shifts the renovation, construction, operations and maintenance responsibilities to private sector providers. The development, construction, financing, regulation and tax implications of military housing privatization presents this relatively new industry with the need for experienced, agile legal counsel to respond to the resulting legal issues.

The Goulston & Storrs Military Housing Privatization group, drawing upon the recognized strength of the firm’s real estate, tax and finance attorneys, is positioned to represent public- private ventures, developers, underwriters and credit enhancers in these transactions from start to finish.  Our attorneys have represented developers, underwriters and  credit enhancers in more than $4 billion of real estate joint venture transactions between the United States Government and private developers, including privatization of more than 40,000 housing units.

We provide services in the areas of:

  • Acquisitions & dispositions
  • Construction
  • Development
  • Environmental
  • Finance
  • Joint ventures
  • Land use and zoning
  • Real estate
  • Tax

Representative Projects and Transactions

  • Counsel to a public-private joint-venture in the acquisition, leasing, development, construction, financing and operation of a residential housing portfolio, including the negotiation of two fifty-year ground leases, the issuance of approximately $1 Billion of taxable bonds and the formation of three subsidiaries.
  • Counsel to a public-private joint-venture in the acquisition, leasing, development, construction, financing and operation of a residential housing portfolio, including the issuance of approximately $1.1 Billion of taxable bonds over the course of seven phases of development. 
  • Counsel to a public-private joint-venture in the acquisition, leasing, development, construction, financing and operation of a residential housing portfolio in the Mid-Atlantic region, including the issuance of approximately $500 Million of taxable bonds.
  • Counsel to a public-private joint-venture in the leasing, development, construction and operation of a residential housing portfolio in the Southeast region.

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