David F. Belkowitz is a commercial real estate attorney, representing both developers and lenders in all facets of real estate transactions. He concentrates on government-assisted financings, low income and historic tax credit financings; securitized loan transactions and tax-exempt bond financings, within and outside of Virginia.
Before entering private practice in 1984, Mr. Belkowitz was chief counsel of the Richmond office of the United States Department of Housing and Urban Development. He has lectured for the National Business Institute and the ABA’s Forum on Affordable Housing and Community Development Law and has published articles in the Practical Real Estate Lawyer and Real Estate Review on government-assisted financings and tax-exempt financings.
Representative experience includes the following:
- Served as bond counsel for numerous apartment and nursing home financings utilizing FHA mortgage insurance and GNMA mortgage-backed securities as credit enhancement.
- Negotiated documentation for a borrower converting a surplus elementary school into a 77-unit elderly residential rental housing project. The financing involved (a) negotiating a joint venture agreement with a New York financial concern, (b) syndicating historic and low income tax credits, (c) utilizing FHA co-insurance, (d) collateralizing debt with GNMA mortgage-backed securities purchased by a state housing finance agency, (e) negotiating with a state department of housing about terms of grant funds, and (f) coordinating nomination of the property for listing by the U.S. Department of Interior on the National Register of Historic Places.
- Drafted documentation for a $39,500,000 loan for a hotel in a downtown mixed-use business center in Richmond.
- Served as Virginia counsel for out-of-state entities purchasing $100,000,000 and $25,000,000 pools of loans from the Resolution Trust Company (RTC).
- Representing clients acquiring properties utilizing tenant-in-common ownership.
- Obtained real estate tax exemption from the Commonwealth of Virginia’s General Assembly for several nonprofit organizations.
- Represented a borrower that is converting a vacant building into apartments using low income housing tax credits and tax exempt financing from the Virginia Housing Development Authority
Mr. Belkowitz received a B.A. from the University of Wisconsin-Madison, an M.P.A. from the Maxwell School of Citizenship and Public Affairs of Syracuse University and a J.D. from the College of William & Mary's Marshall-Wythe School of Law.
He served as president of the Jewish Community Center of Richmond from 1996 to 1998, has extensive volunteer service with other Jewish communal organizations in Richmond. He is a past recipient of the Leroy B. Goldberg Leadership award for his demonstrated leadership skills and of the Bernstein Leadership Award for outstanding service, both from the Jewish Community Center. He also received the 1994 President's Plaque awarded annually by the Jewish Community Federation of Richmond to a male for outstanding service to the Federation's annual fund campaign.
