The affordable housing industry is at a crossroads. Over the past decade, thousands of affordable apartments financed with or insured under federal programs have been converted to market-rate housing. As a result, the agencies that regulate these programs have created barriers to the efficient completion of sales in an effort to preserve the country’s affordable housing inventory. Today it takes an affordable housing specialist familiar with these complexities and well versed in the nuances of the industry to successfully complete these transactions.
First Atlantic Capital’s senior management team has combined experience that spans three decades with projects nationwide. The team has experience working with public, institutional and private investors and has been involved in investment ownership or management of over 120,000 multifamily units. Having successfully navigated the procedural maze of federally instituted preservation options differentiates First Atlantic Capital from other organizations seeking to acquire and reposition these targeted assets.
Institutional and private owners can trust First Atlantic Capital, LLC to successfully handle the acquisition of affordable housing assets, including the refinancing and sale of Section 8 and Section 236 developments and the assembly of various financing mechanisms including:
Low Income Housing Tax Credits
Taxable and Tax-exempt Bonds
State Housing Finance Authority Financing
HUD Mortgage Insurance
Fannie Mae Credit Enhancement.
