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Peter J. Berrie



Peter Berrie is a partner in the Faegre Drinker real estate group. He focuses on tax credit projects, particularly new markets tax credits and historic tax credits, as well as tax-increment financing, real estate finance and common interest community law. In NMTC deals, Peter primarily represents QALICBs (i.e. the borrowers) throughout the country but has also represented leverage lenders. His NMTC projects include representing the borrower in a $35 million NMTC financing of a Chicago big-box retail store and a lender that funded the leverage loan for a tribal governmental center. He also used the “targeted populations” qualification to allow the NMTCs to be used for the renovation of a downtown Minneapolis dance and music performance center. Peter’s clients include many non-profit as well as for-profit entities.

Prior to re-joining what was then Faegre & Benson in 1999, Peter worked with the Minnesota Attorney General’s office where he represented the Minnesota Housing Finance Agency and the Iron Range Resources and Rehabilitation Board, among others. He is a frequent lecturer at seminars on new markets tax credits, historic tax credits, affordable housing and other real estate topics.

Related Industries


Bar Admissions



University of Iowa College of Law
J.D. with high distinction, Order of the Coif (1992)

University of Iowa
B.A. Phi Beta Kappa, with high distinction (1989)

Insights & Events

Other Perspectives


  • Real Estate Law—Key Deal Points and Potential Traps
    Urban Land Institute: Building a Foundation Program, 2013-20
  • Tax Credits and Other Governmental Assistance for Real-Estate Developments
    Minnesota CLE - Real Estate Institute, 2018 and 2019
  • Historic Tax Credits: New IRS Safe Harbor Rules After Historic Boardwalk Hall
    Strafford Webinar, 2014
  • Dating for Real Estate Lawyers – 7 Dating Traps That Can Cause Problems for Your Clients (and for You!)
    Co-presenter with Sachin Darji, U.S. Bank National Association, Minnesota CLE - Real Estate Institute, 2013
  • Tax Credits After Historic Boardwalk Hall
    Strafford Webinar, 2013
  • New Markets Tax Credits and Other Tax Incentives for Real Estate Development
    Stafford Webinar, 2012
  • Practical Aspects of New Markets Tax Credits, Renewable Energy Tax Credits and Historic Tax Credits
    Minnesota CLE - Real Estate Institute, 2009
  • Basics of New Markets Tax Credits
    Hennepin County Bar Association, Real Property Section, 2008
  • Urban Redevelopment: Mixed-Use Projects
    Lorman Education Services, 2008
  • Condominium and Planned Community Practice: Disclosure Statements, Assessments and Reserves, and Mixed-Use Projects
    Lorman Education Services, 2006
  • Tax Increment Finance: The Basics
    Co-presenter with Stephanie Galey, Sponsored Seminar with LISC, 2005
  • Urban Development in Minnesota, Creative Financing Tools: Tax Exempt Bonds
    Lorman Education Services, 2005
  • Affordable Housing in Minnesota
    Lorman Education Services, 2005
  • Common Interest Communities, Representing Developers and Builders
    Minnesota CLE, 2004
  • Practical Aspects of Low-Income Housing Tax Credits, Historic Tax Credits and New Markets Tax Credits
    Co-presenter with Jim Dinerstein, Minnesota Assistant Attorney General, Minnesota CLE - Real Estate Institute, 2004
  • New Economic Development Tools: New Markets Tax Credits and Minnesota Job Opportunity Building Zones
    Minnesota Institute of Legal Education, 2003
  • The New Markets Tax Credit
    Hennepin County Bar Association Affordable Housing Committee, 2002
  • Ways to Preserve Long-Term Affordability
    Minnesota Institute of Legal Education, 2002
  • Governmental Goals, Policies and Incentives For New Urbanism Development - The Local Perspective
    Minnesota Institute of Legal Education, 2001
  • TIF, Tax Abatement and Other Governmental Assistance — Can New Urbanism Work Without Them?
    Minnesota Institute of Legal Education, 2001


  • Historic Tax Credits—IRS issues “safe harbor” for tax-credit investors
    Journal of Taxation and Regulation of Financial Institutions, November/December 2014
  • The Right Time to Go Green? (Renewable Energy Tax Credits)
    Minnesota Shopping Center Association, February 2010
  • Teen Retail—A Recent Bright Spot
    Minnesota Shopping Center Association, November 2009
  • Alternatives to Traditional Financing
    Minnesota Shopping Center Association, February 2009
  • Small firms, too, can benefit from federal tax credits
    Upsize Mag.com (originally published in 2008 in Upsize Magazine)
  • Metro Area’s Fiscal Disparities Act in the Spotlight
    Minnesota Shopping Center Association, April 2008
  • Mixed-Use Projects: How Do They Work?
    Minnesota Shopping Center Association, July 2006

Leadership & Community

Professional Associations

  • American College of Real Estate Lawyers
  • Hennepin County Bar Association Affordable Housing Forum   Past Co-chair
  • Minnesota Shopping Center Association Past President

Civic Activities

  • Hearth Connection — Past Board Chair
  • Washburn Center for Children — Past Board Director


  • Chambers USA — Minnesota, Real Estate, 2011-24
  • Best Lawyers® — Real Estate Law, 2011-24 (Lawyer of the Year, 2022, 2024)
  • Minnesota Law & Politics — Rising Star and Super Lawyer
  • Minnesota Super Lawyers — Real Estate, 2010-20
  • Minnesota Super Lawyers — Rising Star, 2001-02
Awards Methodology
No aspect of these recognitions has been approved by the highest court of any state.
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