People
Scott M. Gerard

Scott M. Gerard

Partner

Scott Gerard is co-chair of Shipman's Finance Department, where he leads the Commercial Finance Practice. Scott represents national, regional and local lenders on commercial finance transactions of various types, including those involving complicated New York lien laws on construction loans as well as loan restructurings and workouts. In addition, he represents clients in a broad spectrum of corporate and real estate transactions. Drawing on his 40 years of experience in private legal practice, he also serves as outside general counsel and trusted advisor to businesses with operations and interests in a range of industries, including financial services, health care, construction and real estate.

Scott regularly represents commercial financial institutions and other primary lenders in structuring and closing a wide range of sophisticated loans, including permanent and construction loans, tax credit financings, and asset-based and commercial real estate mortgages. He has worked on projects involving hotels, multifamily residential developments, health care and senior care facilities, manufacturing and industrial facilities, and retail properties. In addition to his work on behalf of lenders, Scott has represented major developers in all phases of real estate development and has advised on public-private partnerships.

Recently, and in conjunction with the Connecticut Bankers Association, Scott was a panelist for a webinar on workout strategies and risk analysis, during which he focused on the specific concerns of banks and other lenders. Scott has extensive experience advising lenders on loan-related issues arising out of restructures and workouts, with particular respect to loans secured by various types of collateral.

Scott believes that developing a strong relationship with his clients and gaining a deep understanding of their businesses, transactions and objectives are key to effective representation. In addition to providing outcome-focused representation on specific matters, Scott serves as outside general counsel to a variety of companies, providing guidance on matters such as business formation, structuring of new business entities, negotiation of mergers, acquisitions and joint ventures, and the disposition of privately held entities.

Credentials

Education

American University Washington College of Law, J.D., 1980
Boston University, B.S., Accounting, 1976, summa cum laude

Bar Admissions

Connecticut
New York

Court Admissions

U.S. District Court, District of CT
U.S. Tax Court

Distinctions

AV Preeminent® Rated, Martindale-Hubbell
Listed in Chambers USA, Real Estate (2017-2019, 2024)
Listed in The Best Lawyers in America®: Real Estate Law (2018-2025)

Professional Affiliations

New York Bar Association
Connecticut Bar Association: Real Estate, Tax and Business Law Sections
Connecticut Community Bankers Association
Real Estate Finance Association
Real Estate Lenders Association
Association for Corporate Growth (ACG)

Community Involvement

Center for Children's Advocacy: Board of Directors (2024-present)
Housing Development Fund (nonprofit): Board Member (2016-present)
Connecticut Venture Group: Member
Jewish Senior Services: Board Member (2011-2014)
Town of Fairfield: Board of Tax Review (2001-2005)
Arena Football League: Board of Directors (1996-1998)

Experience

General

$64MM Financing of Skilled Nursing Facility in New York

Successfully closed a $64,000,000 financing including term loan and line of credit on behalf of our banking client on a skilled nursing facility located in New York. This transaction required our team to develop a complicated loan structure involving fee and leasehold collateral due to New York Department of Health regulations. In addition to drafting a large number of complex loan documents, we assisted with due diligence, handled all associated liens, and reviewed all of the approvals from the New York Department of Health.

$17.5M Financing for the Rehabilitation of Existing Buildings into an Inn, Spa and Restaurant in Peekskill, New York

$17.5M Financing for the Rehabilitation of Existing Buildings into an Inn, Spa and Restaurant in Peekskill, New York.

$9M Financing for the Construction of Mixed-Use Apartment Building with Affordable Housing Units in Westport, Connecticut

$9M financing for the construction of mixed-use apartment building with affordable housing units in Westport, Connecticut.

$22.5M Construction Loan and Complex Fund Structure for New Jersey Assisted Living Facility

$22.5 million New Jersey construction loan for 124-bed assisted living facility with borrower with multiple facilities around the country. The transaction included review of a complex fund structure for equity ownership involving multiple levels of limited partnerships in joint venture ownership structure.

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August 21, 2020