Mary Forbes Lovett
Partner
Cleveland Office
p 216.583.7074
f 216.583.7075
mlovett@ulmer.com
At a Glance
Mary focuses her practice on real estate and business law and has significant experience handling the acquisition, financing (including tax credit financing), development, leasing, zoning and environmental matters related to real property. She specializes in the development and financing of urban properties and was recognized by CREW in 2003 for her work related to the largest HUD-financed project in Ohio. Mary is a frequent speaker on business and real estate topics including alternative financing techniques, historic tax credits (state and federal), new markets tax credits, renewable energy credits, low income housing tax credits, urban development, negotiating acquisitions and leases, strategies for like-kind exchanges, environmental indemnification, preservation easements, urban sprawl and eminent domain.
Education
The Ohio State University (B.S., summa cum laude, 1974)

Cleveland-Marshall College of Law (J.D., magna cum laude, 1985) Editor, The  Cleveland State Law Review, Managing Editor, Journal of Law and Health
Practices/Industries
Areas of Concentration
  • Urban Development
  • Tax Credit Financing
  • Real Estate
  • Land Use
  • Commercial Leasing
  • HUD Financing
  • Multifamily Housing
Representative Experience
  • Represents developers in the development of urban properties utilizing historic tax credits, conservation easements, new market tax credits, renewable energy credits and low income housing tax credits.
  • Counsels and represents developer and corporate clients on the acquisition, financing, divestiture and development of real estate projects.
  • Extensive experience handling leasing and financing transactions, land development, zoning and environmental issues.
  • Represents entrepreneurial developers of office buildings, hotels, shopping centers, condos, apartments, historic restorations, adaptive reuse, new development and multi family housing.
  • Counsels real estate lenders on construction, permanent financing matters and tax credit financing.
  • Counsels clients on all aspects of the purchase, construction, sale, lease or sublease of property, offices, buildings and retail spaces.
  • Advises clients and provides services for entity formation and structure and other corporate matters.
  • Counsels investors in connection with tax credit investments.
  • Knowledgeable in HUD and Fannie Mae Guidelines and requirements for multifamily property lending, including representation of Fannie Mae DUS lenders in the documentation and closing of Fannie Mae Multifamily loans.
Certifications
Certified Specialist in Business, Commercial and Industrial Real Property Law, Ohio State Bar Association
Honors/Distinctions

Named to The Best Lawyers in America®, Real Estate Law, Woodward/White (2009-2012)

AV Rated - Martindale-Hubbell

Named an "Ohio Super Lawyer" in a survey of Ohio lawyers by Law & Politics
magazine (2008-2012)

Recipient, CREW (Commercial Real Estate Women) National Deal of the Year Award (2003)

Recipient, CREW Klausner Leadership Award

Recipient, Cleveland Restoration Society Award

YWCA Women of Professional Excellence (Recipient, 2009)

Publications/Presentations

Presentations

Frequent lecturer on business and real estate topics for the Cleveland Bar Association Real Estate Institute; Urban Land Institute; CREW; Maxine Goodman Levin College of Urban Affairs and numerous business, real estate organizations.

“A Comprehensive Overview of the Alphabet Programs: TARP, ARRA, PPIP and More,” Bailout/Stimulus Forum (July 2009)

“Formula for Success:  HTC + the NMTC + State Tax Credits,” The Novogradac Conference (April 2008)

“State Historic Tax Credits,” the Ohio Housing Council Summer Symposium (July 2007)

“Redevelopment of the Detroit Shoreway Project and the Development of the Arts District,” CREW Cleveland Annual Professional Development Seminar (May 2007)

“Eminent Domain,” CREW Midwest Regional Conference Detroit, Michigan (May 2007)

“Legal Issues:  Syndication,” The Ohio Historic Tax Credit Training Seminar (May 2007)

“Urban Development Tools – Overcoming Eminent Domain, Bureaucracy and Other Impediments to Urban Development,” CREW Midwest Regional Conference (May 2007)

“Alternative Financing,” Cohen & Company (March 2007)

Professional Affiliations

American Bar Association

Cleveland Metropolitan Bar Association (Real Estate Section; Former Chair; Environmental Law Section)

Greater Cleveland Real Estate Organization (Former President)

CREW (Member; former President and national delegate)

Urban Land Institute 

Cuyahoga County Improvement Corporation (Board Member)

Neighborhood Housing CDC (Board Member)

Cuyahoga County Economic Development Loan Review Committee
 

OSBA Certified Specialist in Business, Commercial and Industrial Real Property Law 

Arthritis Foundation (Board Member)

Admissions
State of Ohio