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Nancy B. Clapp

ClappNancy
Partner
T213.633.6835
F213.633.6899

Nancy Clapp advises real estate investors, commercial banks and other financial institutions in a wide range of real estate transactions, including real estate finance, acquisitions, dispositions and joint venture formations. Nancy represents institutional equity investors in the acquisition, financing, development and sale of all types of commercial real property, including, office buildings, retail centers, residential developments, industrial parks and hotels.

In addition, a significant portion of Nancy’s practice includes the representation of commercial banks and other lenders in providing acquisition, construction and permanent financing for hotels, industrial parks, office buildings and multifamily residential projects. She has extensive experience in representing lenders in providing construction and permanent financing for multifamily residential projects which qualify for low-income housing tax credits and tax-exempt bond financing. Nancy has been representing lenders in affordable housing finance transactions for roughly 10 years and closes approximately 15 new financing transactions each year. A representative list of her clients in this area includes U.S. Bank National Association, Wells Fargo Bank, National Association, Bank of America, N.A. and California Community Reinvestment Corporation.

Representative Experience

Construction loan for multi-family low-income housing project

Represented lender in connection with the $52 million financing of two inter-connected projects involving the construction of one cohesive high-rise multifamily residential development located in San Diego using federal low-income housing tax credits and tax-exempt bond financing. (2015)

Financing for hotel

Represented lender in connection with the $200 million financing of a hotel located in Seattle. (2015)

Sale of hotel

Represented seller in connection with the $170 million sale of a hotel located in Denver. (2015)

Financing for high-rise office building

Represented lender in connection with the $150 million financing of a high-rise office building located in San Francisco. (2014)

Financing for high-rise multifamily residential building

Represented lender in connection with the $154 million financing of a high-rise multifamily residential development located in Bellevue, Wash. (2013)

Sale of hotel real estate*

Represented owner in connection with the sale of the 158-room Mandarin Oriental Hotel, San Francisco. (2011)

Real estate acquisition and development for pension fund*

Represented pension fund in connection with proposed acquisition (by ground lease), development and construction, in joint venture with its developer partner, of a mixed use project in Hollywood, Calif. containing over 1,000 apartments and 175,000 square feet of retail space. (2010)

Sale of hotel real estate*

Represented seller of 487-room Sheraton Hotel in Los Angeles. (2010)

Joint venture for an investment group*

Represented investment group in connection with its formation of a joint venture with a national bank to acquire, manage, service, and dispose of a pool of distressed national commercial mortgage loans, with the bank holding a non-managing joint venture interest in its own pool (and considered to be one of the very first of its kind). (2008)

IPO for real estate developer*

Represented real estate developer in connection with its initial public offering. (2007)

Acquisition and development for hotel developer*

Represented developer in connection with acquisition, development, construction and financing of a five-star resort in Anguilla. (2006)

Acquisition of high-rise condominium for pension fund*

Represented pension fund in connection with its acquisition, with its partner, of a 90-unit luxury boutique condominium project in Walnut Creek, Calif.

Purchase of multifamily housing revenue bonds*

Represented national bank in connection with its purchase of tax-exempt multifamily housing revenue bonds secured by a 255,000 square foot 23-story high-rise affordable housing project in San Diego.

Purchase of office building*

Represented pension fund in connection with its purchase of a 175,000 square foot, 14-story CBD office building in St. Louis.

Sale of hotel real estate*

Represented seller in connection with sale of five-star hotel located on Union Square in San Francisco.

Sale of hotel real estate*

Represented seller in connection with the sale of the 380-room Ritz Carlton Hotel in Pasadena, Calif.
* Denotes experience completed at a prior firm

Additional Qualifications

  • Associate, DLA Piper, Los Angeles, 2005-2012