Foss & Company Q4 2025 Report: Closing the Year with Momentum

As we move further into 2026, Foss & Company reflects on a year defined by execution across the tax equity and transferable credit markets. In the fourth quarter (Q4) of 2025, our teams worked closely together to support more than two dozen closings before year-end across our investments, legal, marketing, real estate, and renewable energy and sustainable technologies teams.  

Foss & Company understands this moment. We have navigated periods of transition before, and we remained focused on what matters most: creating long-term value, strengthening partnerships and executing with clarity. Over the past year, Foss & Company continued to expand our team and deepen relationships across the market, reinforcing our role as a stable and trusted partner amid complexity.  

To learn more about market developments following One Big Beautiful Bill (OB3), register for Foss & Company’s upcoming webinar with Bloomberg. 

 

A snapshot of Q4 closings 

During Q4, Foss & Company supported a diverse set of transactions across renewable energy, adaptive reuse and community-focused development. Highlights include: 

  • Project Alamo Sun (Jones County, TX): Transferable transaction of approximately $331 million in Production Tax Credits (PTCs) generated over a 10-year period (2026-2036) from two solar facilities totaling 400 MWac. 
  • 22 Fulton Street (Newark, NJ): Tax credit purchase of $90 million in NJ Aspire Tax Credits supporting a downtown residential development. 
  • 707 E. Main (Richmond, VA): Historic tax credit investment of $21.9 million in federal historic tax credits and $27.6 million in VA State Historic Tax Credits, plus $33.4 million in historic tax credit bridge loan financing. 
  • Shinola Hotel (Indianapolis, IN): Investment of $33 million in IN Redevelopment Tax Credits supporting an adaptive reuse project. 
  • Antique Apartments (Columbia, SC): Investment of $12.8 million in SC Textile Tax Credits supporting new student housing. 
  • Upper Spotsy 2 (Fredericksburg, VA): Investment of $7.6 million in VA State Historic Tax Credits supporting redevelopment within a mixed-use district. 

 Additional projects this quarter included Jagger Mill (Sanford, ME), Heller Keller-Kohn (Cleveland, OH), Stacks at Easley (Rock Hill, SC), Miller Corset Factory (Canandaigua, NY), Peanut Crossing 2 (Suffolk, VA), Ten20 (Columbus, IN), Salem Bottleworks (Winston-Salem, NC), and more. 

For more Foss & Company projects, visit the Projects page on our website. 

 

Recent News and Coverage 

Foss & Company was featured in several recent announcements and industry stories, including: 

More coverage, announcements, and updates are available on the Foss & Company News page. 

 

Welcome to the Team 

Foss & Company is proud to welcome Sarah Lieber, who joined the firm as general counsel. 

 

Upcoming Events and Webinars 

Foss & Company will be participating in the following events in early 2026: 

To meet with a Foss & Company team member at an upcoming event, contact us through our website. 

 

Looking Ahead 

As markets and guidance continue to develop, Foss & Company remains focused on delivering stable partnership, disciplined execution and long-term value for investors and project sponsors. We look forward to continuing that momentum in 2026. 

 

To explore how Foss & Company can support your investment objectives, contact us.