Ryan P. Sommers, CPA

Managing Director of Financial Services

Overview

As managing director of financial services, Ryan Sommers identifies, secures and manages private and public financing opportunities for business expansion projects and real estate development.

Ryan is currently managing a team responsible for 40+ projects throughout the country and $4 billion in development value including $650 million in public financing for public-private partnerships. Current projects include:

  • Playhouse Square Lumen Tower, Cleveland
  • E-commerce distribution and fulfillment centers
  • Terminal Tower, Cleveland
  • 750 Huron - AT&T Building, Cleveland
  • Project 29 (Hingetown), Cleveland
  • Mark Twain Tower, Kansas City
  • Statler Apartments, Cleveland
  • 1401 Elm, Dallas
  • nuCLEus, Cleveland
  • Starks Building, Louisville
  • The Bowery, Akron
  • 925 Euclid - Huntington Building, Cleveland
  • Ambassador Lofts, Dallas

Ryan is integrally involved in large corporate and development projects utilizing historic tax credits, tax increment bond financing, EB-5 debt, NMTCs, sale-leasebacks, tax exempt financing, infrastructure grants, mezzanine debt, PACE and private equity placements.

Structured Finance Experience
  • Financial architecture with a focus on public-private partnerships
  • Federal and state historic tax credits structuring and syndication
  • Pro forma development and financial feasibility analysis
  • Intergovernmental funding strategies (local, state, federal)
  • Public sector bond financing
  • Tax increment financing, new markets and job creation tax credit strategies
Project Experience
  • Playhouse Square Lumen Tower – Structuring private and public financing for $140 million construction project
  • Euclid Grand – John Hartness Brown – Managing tax credit structuring and public financing for $80 million historic redevelopment of vacant complex
  • 441 Smithfield – Pittsburgh – Managing tax credit structuring and public financing for $70 million historic redevelopment of vacant complex
  • Adcom HQ relocation – Structuring private and public financing for new headquarters project in northeast Ohio
  • Millennia Housing Management – Structuring public financing for redevelopment of Cleveland apartment project
  • The Bowery – Coordination of tax credits, public financing sources and private debt financing for redevelopment of vacant complex at “main & main” in downtown Akron
  • Equity Trust Campus – Coordination of local and state incentives for corporate campus expansion
  • Confidential distribution center – Securing various incentives for 400,000 sq. ft. e-commerce distribution and fulfilment center in Florida
  • National Interstate - Multi-million dollar public financing and incentive page for headquarter expansion project
  • Fat Head's Brewery - Coordinate public financing and incentives for brewery and production facility project
  • Stark Enterprises – nuCLEus Development Project – Structuring private and public financing for $500 million redevelopment
  • 925 Euclid Avenue Redevelopment – Structuring private debt, tax credits and public financing for $280 million historic redevelopment
  • Geis Companies – Ameritrust Redevelopment – Structured private and public financing for the $180 million redevelopment of the Ameritrust complex and new Cuyahoga County Headquarters
  • 1401 Elm Street, Dallas, Texas – Assisted Drever Capital Management with tax credit structuring and public financing for $240 million historic redevelopment of office tower
  • Hillcrest Food Services – Multi-million dollar public financing and incentive package for headquarter expansion project
  • Midwest Development Partners – Structuring public financing for $200 million development project in University Circle
  • Applied Industrial Technologies – Multi-million dollar public financing and incentive package for headquarter acquisition
  • Statler Garage – Coordinated financing for acquisition of parking garage in Cleveland Central Business District
  • Morgan Management – Structuring and securing $7.5 million in tax credit and bridge financing for renovation of National Terminal Warehouse Apartments
  • Weston, Inc. – Standard Building Redevelopment – Structuring public financing for $65 million redevelopment
  • RMS – Forest City Enterprises – Structuring public financing for $90 million mixed-use project
  • Flats East Bank – Finance Director for $700 million mixed-use redevelopment with 32 different sources of financing over four major asset classes
  • Phillips Edison & Company – Parmatown Mall Redevelopment/Parma, Ohio
  • Cuyahoga County Convention Center Hotel – Project finance and accounting
  • Fairmount Properties – College Town Development Project/Rochester, New York
  • Slyman Group & Dalad Construction – Redevelopment of 1220 Huron Road in Playhouse Square
  • University Circle Incorporated – Various mixed use projects/Cleveland, Ohio
Additional Experience
  • EB-5 Financing - $150MM +
  • Tax Increment Financing - $100MM +
  • New Market Tax Credits - $100MM +
  • State of Ohio Loans and Grants - $50MM +
  • Historic Tax Credit Equity (State and Federal) and Bridge Loans - $200MM +
  • Taxable and Tax Exempt Bond Issuances
  • Industrial Revenue Bonds
  • Procured HUD 108 Loans totaling $58MM
  • Secured over $500 million in bank, institutional, CMBS and life insurance project financing
Distinctions
  • Crain’s Forty Under 40, Class of 2014

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