WNC Community Preservation Partners
Developing affordable housing is becoming increasingly difficult in many markets. At WNC CPP, we have established innovative and proven ways to achieve success in this difficult environment. We relish challenges and have built a reputation in the industry for being problem solvers who tackle the complex–and make it look easy in the process.
WNC CPP has successfully acquired, developed, and rehabilitated over 42 multifamily developments totaling over 2,015 units. The majority of these developments have involved the preservation of at-risk affordable housing. WNC CPP structures and finances the developments with the assistance of federal Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing, federal, state and city loans, privately placed debt and various rental subsidy programs.
Our team members have developed a thorough knowledge of the intricate regulations and requirements of local, state and federal agencies, which allows us to serve as a resource to owners that brings a high probability of closing. In particular, we have become industry innovators in the LIHTC, HUD, and USDA arenas.
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For those owners who simply want an exit strategy for their investment, WNC CPP can serve as buyer and purchase the property and interest from the existing owner. Drawing on the collective experience of its team and parent company, WNC CPP is able to pay top dollar to owners and ensure a smooth and easy closing.
Recapitalizing and re-syndicating properties can be a timely and costly measure, and owners may not want to risk the financial capital and working capital in structuring and closing these transactions. WNC CPP takes on the financial risk for the owner, and navigates through the various regulations and state agencies, ensuring a successful transaction, giving a renovated and recapitalized asset to the owner.
Regulations and laws change frequently, and a transaction completed 15 years ago would not be able to go through the same process again. As consultant, WNC CPP advises nationally on both 9% (conventionally financed) and 4% (tax-exempt bonds) low-income housing tax credit developments. Providing detailed cost analysis, financial pro formas, debt and equity structuring and other services, WNC CPP helps clients successfully develop and own multifamily affordable housing properties.
For further information, please contact Anand Kannan.