Our Services
Representative Clients
We’ve peformed transactions on 736 properties in 44 states. Read about a few.
Team
Todd Trehubenko
Shannon Lestan
Philip B. Silva
Contact
Todd Trehubenko
T: 617.338.9484 x214
Sell
Realize optimal residual value when selling residential real estate
Selling multifamily properties and realizing full benefit requires attention to every financial, political, and social detail. Owners considering sale face a number of complex challenges, particularly when it comes to selling affordable housing assets.
Many affordable housing properties' finances were structured with an eye to immediate value, not eventual sale
Usually, the focus of the financial structure was on the initial value to the parties: on the income tax incentives, the syndication and partnership arrangements, and potential government subsidies. In many cases, by the time sale is desired, the benefits have been realized. But their legacy remains, in the form of use agreements, unresolved Section 8 contracts, and clawback provisions, increasing the complexity of realizing property value. Additionally, partner incentives and interests may have diverged over time.
A successful sale that benefits all parties requires careful attention to every step of the process
A typical sale process proceeds through distinct phases
- Detailed financial evaluation of current situation
- Assessment of the financial impact of upcoming events, such as financing balloons, expiration of developer guarantees, or expiration of subsidy agreements or mortgage covenants.
- Preparation of property, owner, and market for maximum value
- Effective presentation of property to the market
- Solicitation of bids and selection of winner
- Negotiation of terms and agreement between all parties
- Transaction management and execution
Recap can structure transactions to maximize realizable value
Recap has long experience in unlocking the potential value of residential real estate. The process can be long and cumbersome if full value is to be extracted, but we achieve results that benefit all participants. The seller receives maximum realizable value, and the buyer acquires a functional and viable asset.
Service elements
- Portfolio evaluation, including option and pricing analysis
- Development of disposition plan
- Solicitation process design and customized offer structuring
- Marketing, including online Virtual Document Room
- Evaluation and negotiation of purchase offers
- Assistance to general partners in fulfilling fiduciary duties of disclosure and fairness