 OverviewPhill is a real estate and development attorney focusing on public-private partnerships and real estate finance, particularly redevelopment projects, corporate relocations and expansions, complex master-planned developments, and hospitality projects. Phill has vast experience structuring complex real estate and finance transactions for public and private owners, non profits, and Fortune 500 companies as well as financial institutions, family offices, and other investors. He also is the leading expert in PACE financing in the State of Texas, having successful closed over $100 MM in PACE loans since 2017. Phill regularly presents at state and national conferences on PACE and how it can be effectively utilized to build a successful capital stack for Projects. In leading Munsch Hardt’s Public-Private Partnership Practice, Phill has represented developers in executing more than $2 B in design-build oriented P3 projects in multiple states, more than $1 B in redevelopment projects, and advised numerous companies expanding or relocating to North Texas in developing partnerships with state and local governments. Phill is also well-known for partnering with developers and owners of hospitality projects, having closed more than $1 B in hospitality development projects; he continues to advise such owners on the unique challenges they are facing during the COVID-19 pandemic. Taking a team-oriented approach to tackling projects, Phill aims to help clients facilitate lasting relationships with counterparties. In working with Phill, clients appreciate his sophisticated skillset, as well as his creativity and level-headedness when working on complex transactions. Prior to practicing law, Phill was a Teach for America corps member in Philadelphia, PA, where he taught middle school math for two years. Phill was also awarded a prestigious Gates Cambridge Scholarship in 2005 to the University of Cambridge where he studied social capital in socially excluded communities at St. John’s College. Phill’s commitment to education and poverty issues is evidence in his representation of non-profits, having helped close New Markets Tax Credit transactions totaling more than $150 MM for community and educational facilities across North Texas. He continues to advise these non-profit boards regarding real estate and other strategic issues. Phill is an active contributor to DFWREimagined and has also spearheaded Munsch Hardt’s COVID Conversations, a series of interviews with thought leaders regarding on responding to the long-term effectives of the COVID-19 pandemic. Memberships
- American Bar Association (2009-Present)
- Dallas Bar Association (2013-Present)
- Illinois Bar Association (2010-Present)
- Missouri Bar Association (2009-Present)
- The Real Estate Council (Former President; Leader of Education Subcommittee’s Fellows Program, 2013-Present)
- Urban Land Institute
- Young Leader's Partnership Forum (2013-2014)
- U.S. Green Building Council, Gateway District (2010-2012)
OverviewPhill is a real estate and development attorney focusing on public-private partnerships and real estate finance, particularly redevelopment projects, corporate relocations and expansions, complex master-planned developments, and hospitality projects. Phill has vast experience structuring complex real estate and finance transactions for public and private owners, non profits, and Fortune 500 companies as well as financial institutions, family offices, and other investors. He also is the leading expert in PACE financing in the State of Texas, having successful closed over $100 MM in PACE loans since 2017. Phill regularly presents at state and national conferences on PACE and how it can be effectively utilized to build a successful capital stack for Projects. In leading Munsch Hardt’s Public-Private Partnership Practice, Phill has represented developers in executing more than $2 B in design-build oriented P3 projects in multiple states, more than $1 B in redevelopment projects, and advised numerous companies expanding or relocating to North Texas in developing partnerships with state and local governments. Phill is also well-known for partnering with developers and owners of hospitality projects, having closed more than $1 B in hospitality development projects; he continues to advise such owners on the unique challenges they are facing during the COVID-19 pandemic. Taking a team-oriented approach to tackling projects, Phill aims to help clients facilitate lasting relationships with counterparties. In working with Phill, clients appreciate his sophisticated skillset, as well as his creativity and level-headedness when working on complex transactions. Prior to practicing law, Phill was a Teach for America corps member in Philadelphia, PA, where he taught middle school math for two years. Phill was also awarded a prestigious Gates Cambridge Scholarship in 2005 to the University of Cambridge where he studied social capital in socially excluded communities at St. John’s College. Phill’s commitment to education and poverty issues is evidence in his representation of non-profits, having helped close New Markets Tax Credit transactions totaling more than $150 MM for community and educational facilities across North Texas. He continues to advise these non-profit boards regarding real estate and other strategic issues. Phill is an active contributor to DFWREimagined and has also spearheaded Munsch Hardt’s COVID Conversations, a series of interviews with thought leaders regarding on responding to the long-term effectives of the COVID-19 pandemic. ExperienceHistoric Tax Credits Represented a European investment group in its construction and tax credit equity financing for the $100 MM rehabilitation of the historic Butler Brothers building in [more]Represented a European investment group in its construction and tax credit equity financing for the $100 MM rehabilitation of the historic Butler Brothers building in downtown Dallas, Texas. The building was converted into 238 apartments and a 270-room, dual branded hotel (Fairfield Inn/Town Home Suites by Marriott). The construction financing was through an EB-5 lender and it included a separate closing for the mezzanine financing, which required specific knowledge of how the tax credit closing would work with the mezzanine loan. [less]Historic Tax Credits Represented a European investment group in the $14 MM redevelopment of an 18-story tower at 211 N. Ervay in downtown Dallas, Texas. The building, which was vacant [more]Represented a European investment group in the $14 MM redevelopment of an 18-story tower at 211 N. Ervay in downtown Dallas, Texas. The building, which was vacant for nearly two decades, was converted into a hotel. Thirty-three (33) percent of its renovations costs were from state and federal credit equity, combined with a permanent loan. Munsch Hardt represented the investment group in the property acquisition and financing, as well as with structuring the state and historic tax credits. [less]Historic Tax Credits Represented real estate development and management company in acquiring and redeveloping two large office buildings and a surface parking lot into (i) the first dual [more]Represented real estate development and management company in acquiring and redeveloping two large office buildings and a surface parking lot into (i) the first dual branded AC/Residence Inn by Marriott in Texas, (ii) a Hampton Inn & Suites, and (iii) a 12-story parking garage with an approximate cost of $100 MM. Munsch Hardt represented the client in all facets of the development – closed acquisitions from two different sellers, obtained economic development incentives, negotiated franchise agreements with Marriott and Hilton, negotiated construction contracts, provided tax advice for utilizing historic rehabilitation tax credits, and negotiated project financing. [less]Historic Tax Credits Represented a specialty provider of financing in its loan to a real estate investment and development company for historic rehabilitation of a building in [more]Represented a specialty provider of financing in its loan to a real estate investment and development company for historic rehabilitation of a building in downtown Cincinnati, Ohio. Munsch Hardt prepared and negotiated the loan documents and provided counselling regarding (i) potential environmental contamination of building and review of environmental insurance coverage; (ii) structure of construction contracts and risk-management during the construction period; (iii) insurance coverage issues; and (iv) hospitality industry standards for construction loans. [less]Historic Tax Credits Represented a full-service private real-estate development company in negotiating the financing for the redevelopment of a former high school building in downtown Dallas, [more]Represented a full-service private real-estate development company in negotiating the financing for the redevelopment of a former high school building in downtown Dallas, Texas. The project utilized a combination of federal and state historic tax credits, tax increment financing, financing from a real estate investment trust, and a construction loan. Munsch Hardt’s Real Estate team handled all negotiations with the capital providers and other key partners in the transaction in a very complicated master lease structure. [less]Historic Tax Credits Represented a full-service private real-estate development company in structuring the historic tax credit investments for the $73 MM redevelopment of the West End [more]Represented a full-service private real-estate development company in structuring the historic tax credit investments for the $73 MM redevelopment of the West End Marketplace in downtown Dallas, Texas. The project utilized federal and state historic tax credits as well as private financing. [less]New Market Tax Credits Represented the North Texas chapter of a national youth organization, in securing New Market Tax Credit financing for its multi-million-dollar improvement project to [more]Represented the North Texas chapter of a national youth organization, in securing New Market Tax Credit financing for its multi-million-dollar improvement project to camp that was founded in 1924. The funding from the campaign supported a series of renovations to convert the property into a living laboratory for science, technology, engineering and math (STEM). In addition to securing the New Market Tax Credit financing, Munsch cleaned-up up 90 years of title defects and entitlement issues; developed a tax opinion for the transaction, formed a new Texas non-profit as a supporting organization to the camp, secured pre-approval for property tax exemption, lead construction contracts negotiations and reviewed multiple enforceability opinions in connection with the loans for the transaction. [less]New Market Tax Credits Represented a private, independent Catholic high school in securing New Market Tax Credit financing for its new multi-million-dollar academic center. This financing allows [more]Represented a private, independent Catholic high school in securing New Market Tax Credit financing for its new multi-million-dollar academic center. This financing allows the school to borrow the funds at low rates and receive an immediate $2 MM cash infusion to complete its fundraising for the project. [less]New Market Tax Credits Represented a federally qualified healthcare center in securing New Markets Tax Credit financing for the construction of a new facility serving West Dallas. The project had [more]Represented a federally qualified healthcare center in securing New Markets Tax Credit financing for the construction of a new facility serving West Dallas. The project had been in distress with its contractor but Munsch Hardt was able to navigate the transaction through a construction surety and federal grant process to deliver a product that will improve healthcare access in West Dallas. [less]New Market Tax Credits Represented a faith-based non-profit in securing New Markets Tax Credit financing for interior improvements to an significant non-profit collaboration [more]Represented a faith-based non-profit in securing New Markets Tax Credit financing for interior improvements to an significant non-profit collaboration center that provides workforce training, literacy education, computer technician training, and food preparation and delivery services to South Dallas. The project had already received seed funding that was required to stay in place and Phill and his team were able to structure the transaction to satisfy the needs of all capital sources. [less]Low Income Housing Tax Credits Represented a community housing development organization in the development of a $9 MM affordable housing project for supportive family housing utilizing low- [more]Represented a community housing development organization in the development of a $9 MM affordable housing project for supportive family housing utilizing low-income housing tax credits, CDBG grants, Chapter 380 grants, and construction financing. [less]Low Income Housing Tax Credits Represented a sponsor in the development of a $24 MM affordable housing project as a part of a $170 MM mixed-use condominium project in the Arts District in Dallas, [more]Represented a sponsor in the development of a $24 MM affordable housing project as a part of a $170 MM mixed-use condominium project in the Arts District in Dallas, Texas utilizing low-income housing tax credits, tax exempt bonds, TIF, grant funds, and private donations. [less]Low Income Housing Tax Credits Represented a commercial real estate financing company as the construction lender to the first affordable housing project constructed in the U.S. Virgin Islands [more]Represented a commercial real estate financing company as the construction lender to the first affordable housing project constructed in the U.S. Virgin Islands utilizing low-income housing tax credits. [less]Low Income Housing Tax Credits Represented a commercial real estate financing company as the bridge lender for a portfolio of affordable housing project based in Texas. TIF / Chapter 380 Represented a commercial real estate financing company as lender and a commercial real estate development company in the acquisition of former [more]Represented a commercial real estate financing company as lender and a commercial real estate development company in the acquisition of former Robertson Park in Rowlett, Texas. The transaction involved a two-step conveyance of former parkland from the City of Dallas to the City of Rowlett, and then to the development company. It also required knowledge of local incentives (tax increment financing (TIFs), public improvement districts (PIDs), tax abatement and intergovernmental land transfers). The joint venture was between two family offices co-investing for the first time, and the Munsch Hardt team successfully closed the transaction from start to finish in 10-days. [less]Convention Center Development Represented a Dallas-based hotel development company in the development of a $20 MM convention center hotel in Midlothian, Texas involving tax- exempt bonds [more]Represented a Dallas-based hotel development company in the development of a $20 MM convention center hotel in Midlothian, Texas involving tax- exempt bonds and private financing. [less]Convention Center Development Represented hotel development company in the development of a $50 MM convention center hotel in Amarillo, Texas involving sales and occupancy tax rebates, tax [more]Represented hotel development company in the development of a $50 MM convention center hotel in Amarillo, Texas involving sales and occupancy tax rebates, tax increment financing, and a municipal ground lease. [less]Hotel Campus Development Represented a hotel development company in the development of a $120 MM hotel campus within the Frisco Station master planned development in Frisco, Texas. Hotel, Mixed-Use Development Represented a Grand Prairie, Texas based developer in the development of a $75 MM boutique hotel, residential condominium, and parking garage in the Magnolia district [more]Represented a Grand Prairie, Texas based developer in the development of a $75 MM boutique hotel, residential condominium, and parking garage in the Magnolia district of Fort Worth, Texas. [less]Lender Representation Represented the proprietary debt and equity banking arm of comprehensive capital provider in financing the development of a senior and assisted living project in New [more]Represented the proprietary debt and equity banking arm of comprehensive capital provider in financing the development of a senior and assisted living project in New Jersey, involving (a) an A/B Note syndication, (b) EB-5 mezzanine loan, and (c) an EB-5 mezzanine bridge loan. [less]Lender Representation Represented a proprietary debt and equity banking arm of comprehensive capital provider in providing mezzanine financing for (i) a new construction multifamily project [more]Represented a proprietary debt and equity banking arm of comprehensive capital provider in providing mezzanine financing for (i) a new construction multifamily project in Allen, Texas, (ii) new construction multifamily project in Austin, Texas, and (iii) an assisted living facility in Land O’Lakes, Florida. [less]Lender Representation Represented a family office debt fund in providing mezzanine financing to a new construction hotel project in Austin, Texas. Municipal Bond Financing Represented a national student housing development company in the development of a $250 MM mixed-use student housing facility on the Norman campus for the University [more]Represented a national student housing development company in the development of a $250 MM mixed-use student housing facility on the Norman campus for the University of Oklahoma utilizing tax-exempt bond financing. [less]Municipal Bond Financing Represented a national student housing development company in the development of three student housing facilities comprising $200 MM for Tarleton State University [more]Represented a national student housing development company in the development of three student housing facilities comprising $200 MM for Tarleton State University utilizing tax-exempt bond financing. [less]Municipal Bond Financing Represented a national student housing development company in the development of $120 MM student housing facility on the College Station campus of Texas A&M [more]Represented a national student housing development company in the development of $120 MM student housing facility on the College Station campus of Texas A&M University utilizing tax-exempt bond financing. [less]
[more]NewsroomPress Release Press Release Press Release Press Release In The News In The News Bisnow Speech Speech Press Release In The News Austin Business Journal Press Release Press Release Press Release In The News Dallas Morning News Speech Novogradac 2017 Historic Tax Credits Conference, Denver, Colorado Speech In The News The Dallas Morning News In The News Dallas Business Journal Press Release In The News Law360 Press Release Speech Novogradac Historic Tax Credits Conference 2016 Press Release Press Release Press Release In The News Bisnow Speech NAREC 2015 Financial Management & Operations Conference In The News Texas Real Estate Business Speech Novogradac Historic Tax Credits Conference 2015 In The News DFW Real Estate Review In The News Dallas News, by The Dallas Morning News Article Texas Real Estate Business Article D Real Estate Daily
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