Goulston & StorrsThink Results
Search Site
Search People


Goulston & Storrs is known as an authority in multifamily housing and major mixed-use projects. Our Multifamily Industry group combines a wide-range of experience with comprehensive market knowledge to get the deals done. We work collaboratively with clients, helping them establish the relationships they need to be successful.  Together we develop creative and practical strategies to achieve favorable resolutions to disputes quickly.

Our team assists clients in virtually every aspect of acquisition, financing, development and operation of multifamily properties across the nation. We work with owners, developers, managers, investors, lenders and borrowers in all aspects of both privately funded and federal and state-assisted multifamily projects. Our clients own, develop and operate market rate and subsidized apartment rentals, condominiums and cooperative housing, senior housing of all types and mixed-use properties.  We often help owners and managers of multifamily properties locate and make sense of all the incentive programs -- public and private -- for making "green" improvements to increase the value of existing assets. 

For further information about the Goulston & Storrs Multifamily Industry Group, please contact our group Co-Chairs, Lee C. Carter or D. Hara Perkins.

Representative Clients

  • Fairfield Residential
  • AvalonBay
  • Federal Realty Investment Trust
  • Beacon Capital
  • Forest City
  • Bell Partners
  • Greystar
  • Boston Capital
  • Hanover Company
  • Boston Properties
  • JPI
  • Corcoran Jennison
  • Mill Creek Residential (formerly Trammell Crow Residential)
  • CrossHarbor Capital Partners
  • Northland Investment Corporation
  • Druker Company
  • Nuestra Communidad
  • Eaton Vance
  • Samuels & Associates
  • Equity Residential
  • Winn Development




Representative Projects and Transactions

Acquisitions and Dispositions
Development and Permitting
Distressed Debt and Assets
Finance, Joint Ventures and Tax
Green and Environmental
Operational and Management Issues

Acquisitions and Dispositions

  • Represent the developers of Seaport Square, a 6 million square foot mixed-use development in the South Boston Seaport. The project has the goal of becoming the largest development in the US to attain LEED-ND status.
  • National counsel to AvalonBay in all acquisitions and dispositions in over 30 transactions during the last 4 years.
  • Counsel to Boston Properties and other developers in connection with the acquisition and redevelopment of Prudential Center, a 26 acre area in Boston’s Back Bay. The redevelopment includes a 13-story hotel and residential building (The Mandarin Oriental Boston), an 11-story luxury condominium building (The Belvedere), a 36-story office building, an 11-story office building, a supermarket and retail space and a proposed new luxury apartment tower to be constructed by AvalonBay.
  • Represented Archstone in the acquisition of a long-term ground lease from a state agency over a transit (subway) tunnel and the complex development of a multifamily apartment tower over ground floor retail.
  • Represented CrossHarbor Capital Partners LLC on its acquisition of equity interests in the reorganized Yellowstone Club. The acquisition is one of the largest real estate investments in the country in 2009.
  • Represented Northland Investment Corporation in acquisition of a portfolio of 2700 multifamily units throughout the Southeast.

Read More

Development and Permitting

  • The primary 40B and related inclusionary zoning law counsel for leading national real estate developers such as Archstone, AvalonBay, Fairfield Residential, Hanover Company, JPI, Trammell Crow Residential and many others in the creation of tens of thousands of units.
  • Represented Beacon Capital Partners in a development of the Channel Center in the Fort Point district of South Boston for approximately 1.5 million square feet of office, live/work and ground-floor retail uses in a combination of rehabilitation and new construction.
  • Represented Boston Properties in a $200-300M development of prime urban Washington, DC property under a long-term ground lease from George Washington University for multi-use complex to include an office building, luxury apartment building and significant retail stores.
  • Represent William C. Smith in various aspects of the development of multiple projects in the District of Columbia, including Square 737 where we are counseling the developer on issues related to Housing Authority funding and regulations, and District of Columbia funding.
  • Represented the developer of the Phillips School Condominium and Phillips Row Townhouses in Washington, DC.

Read More

Distressed Debt and Assets

  • Represent a national mortgage lender in workout and foreclosures of multifamily and commercial real estate loans.
  • Represented mezzanine lenders in UCC foreclosure of interests in multifamily residential and commercial real estate developments.
  • Represented developer in a $92M refinancing of existing multifamily property in New York City together with the purchase of five additional distressed debt loans in various stages of default located throughout the country.
  • Represented developer in a $97M refinancing of three existing mixed-use multifamily properties in New York City together with the purchase of additional distressed debt loans on properties located throughout the country.
  • Represented Deka Bank in several acquisitions including construction loans on large condominium projects in Florida and Washington DC; a mezzanine loan made with respect to the John Hancock Tower in Boston and a Senior Secured Credit Facility made to a major REIT.

Read More

Finance, Joint Ventures and Tax

  • Represented a private “green” developer using Low Income Housing Tax Credits and federal and state Historic Credits to redevelop a vacant mill into a mixed-use condominium, including rental housing, school, office, and retail components. The mixed-income housing component of this project was also financed with a United States Department of Energy Grant and traditional loans.
  • Represented client in $100M private offering with primarily tax-exempt and foreign institutional investors to be used to acquire apartment properties, primarily on an unleveraged basis.
  • Formation of a private REIT and related limited partnerships with capitalization of approximately $150M, provided primarily by corporate and governmental pension plans, for the acquisition of multifamily properties and other asset classes throughout the United States.
  • Represented AvalonBay Communities, Inc. on tax-exempt and taxable bond financing for numerous apartment communities.
  • Formation of a fund for banks desiring a Community Reinvestment Act ("CRA") qualified investment. The fund will acquire existing federal government subsidized affordable housing properties and will rehabilitate and recapitalize properties.
  • Represented one of the country's top syndicators in its lower tier investments in projects in multiple states. Also represented the syndicator in developing its predevelopment loan program and closed all of their predevelopment loans, whether or not we closed the ultimate syndication. Working on these transactions, we developed relationships and became very knowledgeable about the requirements of developers, lenders and state agencies across the country over the course of several years.

Read More

Green and Environmental

  • Represent the developer of "Station Park Green," a LEED Gold-ND project in San Mateo, CA, with 599 residential units and 60,000 square feet of retail, located next to a commuter rail stop. Counsel includes all land use, environmental and development design and agreements.
  • Counsel national multifamily developers in connection with environmental issues associated with the acquisition, development, financing and sale of apartment and condominium projects, including projects around the country, including Arizona, California, the District of Columbia, Florida, Georgia, Massachusetts, New York North Carolina, Texas, Virginia and Washington.
  • Represent the Council for Energy Friendly Affordable Housing, an association of affordable housing owners which works to retrofit properties to become more energy efficient and sustainable.
  • Represent Bank of America in negotiating secured bridge financing for one of the largest affordable housing developers in the US for the installation of solar panels on affordable housing developments in Connecticut and Massachusetts.
  • Counseling a national multifamily developer on power purchase arrangements with a proposed adjoining wind turbine facility and related permitting and regulatory matters.
  • Represent the developers of Seaport Square, a 6.5 million square foot mixed-use development in the South Boston Seaport. The largest privately initiated development project in Boston’s Innovation District, Seaport Square is slated to contain significant multi-family uses, in addition to hotel, office, retail, entertainment, civic and cultural uses.

Read More


  • In influential case on standing in Massachusetts, defeated abutters’ appeal of Chapter 40B comprehensive permit for the construction of a rental community. (Standerwick v. Zoning Board of Appeals of Andover). The court’s decision limits how neighboring property values can be used as a basis to prevent development, provides guidance for showing that a challenger does not have standing to sue. Recognized by Massachusetts Lawyers Weekly as one of the top ten most significant decisions in 2006, this case continues to be cited in litigation cases throughout the state.
  • Defended condominium developers in connection with a range of defect claims including noise transmission, window condensation, air quality and other building technology and system claims and claims for cost recovery on behalf of owners, developers and general contractors including EIFS panel failures, wood and vinyl siding defects, masonry wall and other building envelope water filtration claims, HVAC and mechanical system failures.
  • Represented the developer in two 40B cases challenging the same project, each of which was recognized by Massachusetts Lawyers Weekly as one of the most significant decisions of 2008. In Taylor v. The Housing Appeals Committee the Supreme Judicial Court resolved a dispute among lower courts over the timing rules governing a municipality’s right to reject a 40B proposal on the grounds that it has reached its ‘minimum affordable housing requirement’. In Taylor v. Lexington the Supreme Judicial Court addressed the problem posed by 40B permitting multiple appeals in different forums, and provided tools for a developer to avoid pitfalls while maximizing the opportunities presented by the litigation process.
  • Won dismissal of challenges to approvals for a mixed-use residential/commercial development of National Development. We sought and obtained an order that appealing parties be required to post a $1.4M appeal bond. When they failed to post the bond, we obtained an order from the trial court that denied their right to appeal.
  • Defense of and consultation on state and federal fair housing investigations and complaints, reasonable accommodation issues, and other civil rights legislation and regulations.

Read More

Operational and Management Issues

  • Advise multifamily owners and developers on a wide range of daily operational needs including federal and state fair housing requirements, tenant selection procedures, affirmative fair marketing, property management, and all types of leasing matters.
  • Advise multifamily owners and developers regarding all aspects of property and general liability insurance matters, including coverage, risk assessment and portfolio analysis, drafting and negotiating appropriate coverage and recovery, claims and litigation management.
  • Represent multifamily owners and developers on a wide range of employment matters including drafting and negotiation of non-compete, non-disclosure and severance agreements, preparation of employee manuals and handbooks and planning and running employment training programs regarding topics such as diversity and harassment.
  • Negotiated and structured a rolling OCIP (owner controlled insurance program) for a multifamily developer to cover its national portfolio of tens of thousands of units.
  • Help owners and managers of multifamily properties locate and make sense of all the incentive programs -- public and private -- for making "green" improvements to increase the value of existing assets. We represent owners use sustainable design features creatively in obtaining entitlements for new construction and in complying with green building mandates.

Read More»
people|practices / industries|clients|about us|news / events|join us|rss sign-up|terms of use|site map

© 2018 Goulston & Storrs PC. All Rights Reserved.

Attorney Advertising. Prior results do not guarantee a similar outcome.