Helping clients create, improve, sustain, and preserve affordable housing through insightful advice, innovative transactions, and comprehensive capital needs assessments.

ADVISORY SERVICES

Recap provides a full range of advisory services to help clients evaluate potential affordable housing opportunities, ensure fair and equitable buyouts, and establish long-term strategic plans. In addition, we provide transparent reporting, operational expertise, viable action plans, and diligent oversight for affordable housing portfolios facing complex challenges including inadequate property management and eroding Net Operating Income (NOI).

Underwriting & Investment Analysis

Recap minimizes risks through our performance models based on credit risks, tenant profile, financing structure, market conditions, and use restrictions. The end result is a more clearly defined, detailed, and precise underwriting process.

  • Review of relevant documents including analysis of property use restrictions, if applicable
  • Analysis of project positioning and local market
  • Creation of financial models
  • Assessment of strengths, weaknesses, and risks
  • Conclusions and recommendations to client

Ownership Interest Valuation & Fairness Opinion

Recap couples its affordable housing expertise with first-hand knowledge of the complexities of government regulation, often outmoded ownership structures and governance, and fluctuating capital markets conditions to produce accurate ownership interest valuations and fairness opinions. We have enabled numerous transactions nationwide that would not have occurred without our trusted input.

  • Fairness opinions of proposed transactions
  • Valuations for use in intra-partner negotiations, estate transfers, and other contexts
  • Internal assessments for decision making and accounting purposes

Strategic Planning

Leading organizations in the multifamily affordable housingindustry rely on Recap for our informed strategic advice. Our strategic plans reflect a deep understanding of the economic and political conditions affecting multifamily properties as well as our extensive portfolio evaluation skills.

  • Complete survey of the business environment
  • Interviews with key executives to establish goals
  • SWOT analysis
  • Portfolio opportunity analysis, focused on both financial and/or mission goals, as applicable
  • Design of potential new business lines
  • Financial modeling of potential new business lines
  • Strategic recommendations
  • Ongoing support and advice 

Asset Repositioning

Recap repositions underperforming portfolios by clarifying the unknown and identifying targeted areas for improvement. We restore assets to optimal performance and position clients to unlock trapped value.

  • Initial assessment of physical, financial and operational issues
  • Delivery of property- and portfolio-level reports and recommendations
  • Identification, interviews and recommendations for replacement property management
  • Review, development and oversight of asset-by-asset capital plans
  • Creation of leasing/marketing plans based on knowledge of local markets
  • Regular site visits to monitor asset performance

Asset Monitoring

Recap provides transparent asset management and financial reporting for debt and equity portfolios. We protect your assets and identify new opportunities, all while providing transparent and consistent financial reporting.

  • Initial assessment of physical, financial and operational issues
  • Collection, analysis and rollup of all property financial statements
  • Production of customized status reports for properties and portfolio
  • Regular site visits, with frequency geared to level of asset performance
  • Long-term budgeting for property maintenance and improvements
  • Oversight of property management, including termination and replacement if necessary
  • Development and implementation of action plans

Investor Services

Recap provides third-party reporting services to keep investors informed about investment performance, potential opportunities, and emerging issues. We provide reporting, quantitative, and communications support that enables our clients to maintain their focus on what they do best — operating their portfolios for maximum value.

  • Regular meetings with General Partners regarding asset performance
  • Periodic site visits
  • Summary reports to investors including financial results and narrative discussion
  • Response to investor inquiries
  • Additional support services, as appropriate (e.g. consent solicitation packages)