Allen & Associates Consulting is a real estate consulting firm specializing in affordable housing. Our practice areas include low-income housing tax credits, tax-exempt bond transactions, development consulting, disposition studies, market studies, rent comparability studies, appraisals, capital needs assessments, and utility studies. Since 2000 we have performed over 3000 assignments in 46 states. Major projects include:
Completed market studies for 13 proposed tax credit apartment developments on behalf of the Georgia Department of Community Affairs. The portfolio included 5 family and 8 senior communities. Our analysis identified the 4 best deals for the housing finance agency to consider funding.
Developed a disposition plan for a 30-property portfolio of apartments on behalf of a private owner. The 921-unit portfolio (located in MD, DE, PA and VA) was valued at $23 million. Our client relied on our valuations and advice to maximize sales proceeds for the portfolio.
Capital Needs Assessments
Completed capital needs assessments for an 8-property portfolio of RD-financed apartments on behalf of a private developer. The portfolio (located in FL) included 6 family and 2 senior communities. Our client utilized our assessments to develop a scope of work for the proposed acquisition and renovation of the 214-unit portfolio.
Utility Allowance Studies
Completed utility allowance studies for a portfolio of tax credit apartments on behalf of a large national owner/developer. The portfolio (located in CT, DC, IL, IN, MA, NC, OH, PA and VA) included 31 properties. Our client utilized our research to maximize rents and net operating income for the portfolio.
Conducted a financial review on behalf of a local housing authority for the proposed redevelopment of a vacant historic textile mill into loft apartments. Our client had been asked to issue $4 million in tax-exempt bonds for the $15 million project. Our assistance in underwriting the transaction resulted in the green light for the development.
Disposition Study: Tax Credit Renovation
Assisted in the disposition of a 134-unit subsidized apartment community. Developed a comprehensive renovation plan and arranged the sale to another party willing to rehabilitate the property with low-income housing tax credits. The owner was initially prepared to sell the property for $2 million; our efforts brought them $5 million.
Development Consulting: Historic Tax Credit Adaptive Reuse
Assisted in putting together the redevelopment plan for a historic school building. The property, originally constructed in 1935, was subsequently renovated into 14 apartment units with a combination of historic and low-income housing tax credits. Our efforts helped breathe new life into the historic building.
Disposition Study: Year 15 Portfolio Review
Provided disposition studies for a variety of property types including tax credit developments, rural development properties, and HUD subsidized properties. Recently retained to evaluate a large portfolio of Year 15 LIHTC properties on behalf of a national tax credit syndicator.
“Doing our part to keep affordable housing affordable.”