Hawkins Assists City and County of San Francisco with Financing of 55-Story Residential Building
In December 2016, Hawkins served as disclosure counsel to the City and County of San Francisco in connection with its issuance of $240 million Variable Rate Multifamily Housing Revenue Bonds (Transbay Block 8 Tower) issued on behalf of an affiliate of the developer, Related Companies. The bonds will finance a portion of the cost of a new $600 million 55-story tower and surrounding buildings in downtown San Francisco.
The project will provide affordable rental housing and change the skyline of downtown San Francisco. The bonds were supported by a letter of credit issued by Bank of China. The tower was designed by architect Rem Koolhaas. This transaction is one of the most significant multi-family housing financings in California. Hawkins is proud to have served as disclosure counsel for this exciting transaction. Hawkins is a leader in the areas of disclosure, affordable housing and conduit finance.
Also of Interest
- Municipal Market Regulatory Update
This Hawkins Advisory describes the proposed amendments to Rule 15c2-12 and provides a summary and analysis of SEC municipal enforcement actions over the last year. - MCDC Settlements with Issuers
Today, the Securities and Exchange Commission (“SEC”) entered into cease‐and‐desist settlement orders with 71 municipal issuers and obligated persons, across 45 states, that had self‐reported pursuant to the SEC’s Division of Enforcement’s Municipalities Continuing Disclosure Cooperation (“MCDC”) Initiative. - MSRB Rule G-42
On December 23, 2015, the Securities and Exchange Commission (the “SEC”) issued an order approving the Municipal Securities Rulemaking Board’s (the “MSRB”) new Rule G‐42, on duties of non‐solicitor municipal advisors, and related amendments to its Rule G‐8, on books and records. - Hawkins Served as Special Disclosure Counsel to the Metropolitan Transportation Authority Green Bonds
Hawkins served as special disclosure counsel to the Metropolitan Transportation Authority in its issuance of over $1.3 billion of green bonds in 2016.