Federal and state tax credit incentives for the preservation and rehabilitation of historic properties provide owners, developers and investors with significant capital opportunities when properly structured.  Our historic credit services help organizations leverage the full value of these incentives while managing risk through comprehensive consulting and equity placement services.


  1. Developers

  2. Investors

  3. Owners and Operators


  1. Identifying investment capital for owners and sourcing potential investments for investors

  2. Structuring ownership and economic participation among parties

  3. Analyzing potential financial/tax benefits and risks and developing solutions

  4. Assessing development and real estate risks

  5. Developing financial pro formas

  6. Assessing economic return and pricing

  7. Negotiating with equity investors and other capital sources

  8. Preparing nominations to secure listing on the National Register of Historic Places and obtaining certification from the National Park Service for the 20% historic credit (in partnership with MacRostie Historic Advisors)

Representative Transactions and Engagements - Syndication

  1. Historic Investment Funds - We are the managing general partner in a series of historic credit investment funds targeting opportunistic transactions made difficult due to investment size or other factors.  Our services include acquisitions, due diligence, and ongoing asset and portfolio management services for our investors.   Recent investments include an office building in Newport, RI, a residential development in Philadelphia, PA, and a mixed use complex in Wilmington, DE.

  2. Commonwealth Equity Investments LLC - We also syndicate Massachusetts historic tax credits through a joint-venture with MacRostie Historic Advisors.

Representative Transactions and Engagements - Advisory

  1. Hotels - We assisted the investor in identifying the investment opportunity in two separate New York City hotel redevelopments and provided transaction structuring and negotiation advisory services.

  2. Office Buildings - We helped a developer in a structuring a transaction in Newark, NJ using historic credits and a second utilizing both historic and new markets tax credits in Jackson, MI

  3. Residential - We assisted a tax equity investor in structuring the recapitalization of a troubled historic investment in Newark, NJ and advised a developer on structuring and negotiations with the investor

  4. Sports Facilities - We assisted owners of sports facilities in Massachusetts and California in determining credit eligibility for the projects

For more information

  1. Eric H. Darling, Partner

  2. Lisa Lyons, Principal

  3. Roshni M. Wood, Principal


  1. MacRostie Historic Advisors

  2. Internal Revenue Service

  3. National Park Service

  4. Higgins Quasebarth & Partners




Tax Credits

Carlisle Tax Credit Advisors
263 Summer Street, 6th Floor, Boston, MA  02210

T: 617-500-8620   F: 617-500-9920


(c) 2006-2014 Carlisle Tax Credits, LLC