Investment

Approach

Vast Experience, Sound Process and Conservative Policies

Our success as a fiduciary to our investors rests on a rock-solid, yet simple, foundation. We rely on our cumulative experience in the LIHTC industry, a disciplined process, conservative underwriting, and a careful approach to property investments.

 

Three Teams, One Goal

Our Investment process is carried out by three teams, each with distinct responsibilities and each acting independently.

Our Originations Team, made up of six members averaging 20 years of LIHTC experience, builds relationships with developers and negotiates investment contracts. It has no underwriting responsibility or oversight.

Our Underwriting Team, consisting of ten members averaging 12 years in LIHTC, performs comprehensive underwriting of investments. Our underwriting maintains an arms-length relationship with developers throughout the process, and presents its findings to the Investment Committee.

The Investor Relations Team works closely with our Investor Partners throughout the closing process of the fund. Its main focus is assisting the Investors with the due diligence requests throughout the closing and ends with the culmination of a successful closing.

Our Investment Committee is comprised of five senior officers of our firm. Together, they have a combined 115 years of LIHTC experience and an average of 16 years with our firm. The committee has the exclusive authority to approve investments, and no deal can go through without the unanimous approval of its members.

 

Guiding Principles

A sound set of principles underlies all of our investment decisions.

We invest in properties that have a clear market advantage.

We take a conservative approach when estimating vacancies, operating expenses, reserves and market trends.

We prefer investing with developers we know and trust. We work with theĀ best in theĀ business time and time again.

We are highly selective when entering new relationships. All new developers must have a high net worth, long experience in their market and product type, and a successful track record in the industry.