Blank Rome successfully represented Telesis CDE Corporation in the six million dollar new markets tax credit (“NMTC”) financing of a new facility for Cristo Rey High School, an independent Catholic college preparatory high school for students of all faiths who cannot otherwise afford a private education.
The school is a member of the Cristo Rey network, which includes 32 schools serving more than 10,000 low-income students across the country.
Cristo Rey purchased two parcels of land located at 1729 and 1711 West Allegheny Avenue in Philadelphia, one of which is listed in the National Historic Register. The project includes new construction on a vacant parcel comprised of 30,000 square feet of land, and a new school building renovation of an existing 40,000-square-foot historic building located on an adjacent parcel.
Blank Rome Represents Telesis CDE Corporation with a team including Michael I. Sanders (Picture), Steven A. Shoumer, David M. Kuchinos, Michael D. DeBaecke, Dustin Lauermann and Ross E. Coe.
Involved fees earner: Steven Shoumer – Blank Rome LLP; Michael Sanders – Blank Rome LLP; David Kuchinos – Blank Rome LLP; Dustin Lauermann – Blank Rome LLP; Ross Coe – Blank Rome LLP; Michael DeBaecke – Blank Rome LLP;
Law Firms: Blank Rome LLP;
Clients: Telesis CDE Corporation;