Capital Sourcing & Transaction Support
Growth through Sourcing and Support
As former administrators of the HUD/FHA Office of Multifamily Housing Programs, the Collingwood team has in depth experience in complex mixed finance transactions.
The firm’s advisory services are designed to help clients not only get deals closed, but also resolve issues during the application and review process. Our real estate professionals offer insight into the various financial products available to address clients’ multifamily housing investment and development objectives.
Our institutional knowledge of FHA programs, Low Income Housing Tax Credits, Tax-Exempt Bond financing, and other public financing mechanisms enhances clients’ ability to successfully utilize these multifamily products. Collingwood will research various multifamily financial products, assist with application submission, and negotiate through firm commitment to closing. We will work with you to resolve issues, and expedite the approval process.
We provide support to evaluate the diverse capital sources available for the financing of new multifamily construction projects, or to successfully recapitalize existing rental housing assets. Having served as funders/regulators and as representatives of the developer, investor, and lender industries, the Collingwood team’s institutional and practical knowledge of multifamily financial products and the related comprehensive application processes provides great benefit to our clients.
- Research and identify capital sources to best address developer/owner interests, goals and objectives – Low Income Housing Tax Credits, Tax-Exempt Bond financing, FHA programs, Fannie Mae and Freddie Mac products, and other federal, state, and municipal finance options.
- Perform research and assist with application preparation to obtain additional sources of subordinate debt, equity and/or grant financing to achieve project feasibility.
- Provide analysis of state Qualified Allocation Plans (QAPs) and multifamily tax-exempt bond rules to determine optimal financing structure.
- Demonstrate economic benefits of affordable housing to secure subsidy in the form of tax abatement, tax increment financing, and payment in lieu of taxes (PILOT).
Our vast experience negotiating multifamily new construction and refinancing projects enables us to navigate through the wide range of associated program requirements and regulations. We provide comprehensive and objective project analysis and support to resolve problems and increase the likelihood of transactional success.
- Evaluate subsidy-specific processes associated with securing financing and develop corresponding timeliness – pre-application submission, concept meeting, application submission, conditional approval, firm commitment, closing, etc.
- Review, assess, and provide guidance on site selection, market analysis (local absorption rates, rent fluctuations, and occupancy rates), and overall project feasibility.
- Advise on subsidy layering and related overlapping regulatory restrictions.
- Assist with application preparation – review, collection and organization of required documentation for application purposes (e.g. development cost schedules, rent schedules, pro forma, environmental assessment, market study).
- Research federal, state, and local policies, regulations, and barriers to entry, and provide guidance on course of action.
- Work to resolve issues relating to HUD-2530/Previous Participation Certification approval being conditional, withheld or disapproved. If disapproved, advise on requesting reconsideration by the Multifamily Participation Review.
- Illustrate the economic benefits of multifamily housing development, such as job creation, local economic boost, and tax generation.
- Demonstrate economic benefits, (such as job creation, affordable housing) to secure subsidy in the form of tax abatement, tax increment financing, and payment in lieu of taxes (PILOT).