Profile

Paul Simoneaux’s practice focuses on commercial real estate sales, development, financing and leasing. Paul’s 30 years of legal and financial experience, including 10 years as a litigator and nine years as a commercial loan officer and private security lender, are an asset to Steeg Law’s clients. He has developed a reputation for handling complex financial closings and understanding how various funding sources can be combined to his clients’ advantage. Paul has extensive experience in tax incentives and programs for real estate development.

“My combined financial education and legal experience is an added bonus for my real estate clients. I am confident that my advice delivers practical and effective results.”

Paul regularly advises developers and property owners on real estate projects and the use of various public real estate incentives, including historic tax credits, low-income housing tax credits and tax-exempt bonds, new markets tax credits, state and local gap financing programs, restoration tax abatements, and payment in lieu of tax arrangements.

Paul also has significant experience drafting and negotiating business organizational documents, including partnership agreements, limited liability agreements, contracts and a variety of related business agreements.

Representative Transactions and Cases

  • Represented a Texas-based bank on a $75,000,000 acquisition loan for a large retail center located in Baton Rouge, Louisiana.
  • Represented a bank providing over $20,000,000 of construction and bridge financing for the construction and rehabilitation of an historic building located in Birmingham, Alabama as well as an equity investment by the bank’s community development subsidiary to take advantage of state and federal historic tax credits.
  • Represented a developer undertaking a $70,000,000 renovation of an historic building in Detroit, Michigan utilizing federal historic tax equity and tax credit bridge financing, state and municipal long term gap financing, and HUD 221(d)(4) permanent financing.
  • Represented a San Antonio, Texas-based food company expanding a food production facility located in Dallas, Texas utilizing new markets tax credits.
  • Extensive experience representing numerous developers renovating historic buildings utilizing state and federal historic tax credits in over ten states.
  • Extensive experience representing developers creating affordable housing utilizing low-income housing tax credits and federal and state gap financing loans.
  • Extensive experience representing developers and property owners negotiating payment in lieu of taxes (PILOT) agreements with multiple Louisiana public trusts.
  • Experience representing developers creating condominium regimes as well as condominium boards and unit owners.
  • Experience negotiating hotel franchise agreements and management agreements.

Professional Activities

  • Member, Louisiana State Bar Association
  • Member, New Orleans Bar Association
  • Member, State Bar of Texas

Recognition

  • Recipient, American Jurisprudence Award, University of Houston Law Center

Civic and Community

  • Board Member (2014-2020) and Board President (2018-2019), Louisiana Children’s Museum