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Jerome (Jay) Shuman Jr.
Partner
Suite 900
Washington, D.C., 20001
Suite 1600
Baltimore, MD 21201
Jay counsels non-profit and for-profit clients in the buying, selling, financing, development, management, and leasing of affordable and market-rate housing, mixed-use developments, and other commercial projects.
He maintains an active pro bono practice and is a gubernatorial appointee to the Maryland Housing Finance Review Committee, responsible for reviewing loan requests and the investment and...
Jay counsels non-profit and for-profit clients in the buying, selling, financing, development, management, and leasing of affordable and market-rate housing, mixed-use developments, and other commercial projects.
He maintains an active pro bono practice and is a gubernatorial appointee to the Maryland Housing Finance Review Committee, responsible for reviewing loan requests and the investment and project financing policies of the Department of Housing and Community Development.
As a former associate county attorney for Prince George’s County, Maryland, Jay represented the county in its major real estate development and finance transactions. He also has extensive corporate experience from his time in private practice in New York.
A born-and-bred Washingtonian, when not working, Jay enjoys spending time with his wife and two daughters and is a car enthusiast.
project financing policies of the Department of Housing and Community Development.
As a former associate county attorney for Prince George’s County, Maryland, Jay represented the county in its major real estate development and finance transactions. He also has extensive corporate experience from his time in private practice in New York.
A born-and-bred Washingtonian, when not working, Jay enjoys spending time with his wife and two daughters and is a car enthusiast.
Experience
- Represented a non-profit impact developer in joint ventures with other mission-oriented developers, and in their acquisitions of apartment complexes in high-opportunity DC-area communities. These developments implemented a unique financing structure to preserve affordability and involved complex financing through GSE senior mortgages and impact pool mezzanine loans, as well as local subordinated debt and tax-exemption agreements.
- Represented a Government-Sponsored Enterprise in lending through pooled credit facilities and providing immediate and forward commitments for credit enhancement of permanent financing through tax-exempt bonds for numerous multifamily affordable housing projects nationwide.
- Represented a market-rate developer in an $8.65M acquisition of the 49.6-acre land site in Northern Orlando and its related $69M construction financing. The final project included 437-units across 7, 4-story residential buildings, surface-parking, and Class-A amenities.
Previous Work Experience
- Real Estate Associate, D.C. based law firm
- Associate County Attorney, Prince George’s County, Maryland
- Attorney, two New York City-based law firms
Education
- New York University School of Law, JD
- Howard University, BBA, Finance, cum laude
Admissions
- District of Columbia
- Maryland
- New York
- Supreme Court of the United States
Practice Areas
Industries
- Represented a non-profit impact developer in joint ventures with other mission-oriented developers, and in their acquisitions of apartment complexes in high-opportunity DC-area communities. These developments implemented a unique financing structure to preserve affordability and involved complex financing through GSE senior mortgages and impact pool mezzanine loans, as well as local subordinated debt and tax-exemption agreements.
- Represented a Government-Sponsored Enterprise in lending through pooled credit facilities and providing immediate and forward commitments for credit enhancement of permanent financing through tax-exempt bonds for numerous multifamily affordable housing projects nationwide.
- Represented a market-rate developer in an $8.65M acquisition of the 49.6-acre land site in Northern Orlando and its related $69M construction financing. The final project included 437-units across 7, 4-story residential buildings, surface-parking, and Class-A amenities.
Previous Work Experience
- Real Estate Associate, D.C. based law firm
- Associate County Attorney, Prince George’s County, Maryland
- Attorney, two New York City-based law firms
Media
Insights
| To File a BOI or Not File a BOI, That is the Question, Tax Credit Advisor, Author (Jan. 10, 2025) |
| Sheltering the Body and Spirit: The Role of Faith-Based Organizations in Affordable Housing Initiatives, Affordable Housing Conference of Montgomery County’s 2024 Winter Journal, Author (Winter 2024) |
Events / Speaking Engagements
| Success in Commercial Real Estate Development, Young Real Estate Council, Moderator (Feb. 28, 2025) |
| Bisnow Future of Prince George’s County, Moderator (Oct. 2022) |
News
| Nelson Mullins Names 2025 Partnership Class (Dec. 18, 2024) |
| Nelson Mullins Attorneys Celebrate Milestone Community Development Project, Herald-Dispatch (Feb. 21, 2024) |
Alerts
Professional Activities
- Washington Housing Conservancy Stakeholder Council, Member
- Maryland Housing Finance Review Committee, Member
Jay counsels non-profit and for-profit clients in the buying, selling, financing, development, management, and leasing of affordable and market-rate housing, mixed-use developments, and other commercial projects.
He maintains an active pro bono practice and is a gubernatorial appointee to the Maryland Housing Finance Review Committee, responsible for reviewing loan requests and the investment and...
project financing policies of the Department of Housing and Community Development.
As a former associate county attorney for Prince George’s County, Maryland, Jay represented the county in its major real estate development and finance transactions. He also has extensive corporate experience from his time in private practice in New York.
A born-and-bred Washingtonian, when not working, Jay enjoys spending time with his wife and two daughters and is a car enthusiast.
Experience
The following is a selected sampling of matters and is provided for informational purposes only. Past success does not indicate the likelihood of success in any future matter.- Represented a non-profit impact developer in joint ventures with other mission-oriented developers, and in their acquisitions of apartment complexes in high-opportunity DC-area communities. These developments implemented a unique financing structure to preserve affordability and involved complex financing through GSE senior mortgages and impact pool mezzanine loans, as well as local subordinated debt and tax-exemption agreements.
- Represented a Government-Sponsored Enterprise in lending through pooled credit facilities and providing immediate and forward commitments for credit enhancement of permanent financing through tax-exempt bonds for numerous multifamily affordable housing projects nationwide.
- Represented a market-rate developer in an $8.65M acquisition of the 49.6-acre land site in Northern Orlando and its related $69M construction financing. The final project included 437-units across 7, 4-story residential buildings, surface-parking, and Class-A amenities.
Previous Work Experience
- Real Estate Associate, D.C. based law firm
- Associate County Attorney, Prince George’s County, Maryland
- Attorney, two New York City-based law firms
Education
- New York University School of Law, JD
- Howard University, BBA, Finance, cum laude
Admissions
- District of Columbia
- Maryland
- New York
- Supreme Court of the United States
Practice Areas
Industries
Insights
| To File a BOI or Not File a BOI, That is the Question, Tax Credit Advisor, Author (Jan. 10, 2025) |
| Sheltering the Body and Spirit: The Role of Faith-Based Organizations in Affordable Housing Initiatives, Affordable Housing Conference of Montgomery County’s 2024 Winter Journal, Author (Winter 2024) |
Events /
Speaking Engagements
Speaking Engagements
| Success in Commercial Real Estate Development, Young Real Estate Council, Moderator (Feb. 28, 2025) |
| Bisnow Future of Prince George’s County, Moderator (Oct. 2022) |
News
Alerts
- Washington Housing Conservancy Stakeholder Council, Member
- Maryland Housing Finance Review Committee, Member
Highlights from the Firm’s Insights
