MAC’s Affordable Housing Practice (MAHP) focuses entirely on investment sales, equity for acquisition and recapitalization, and/or debt placement for properties or partnership interests that are subject to the IRS’s Low-Income Housing Tax Credit (LIHTC) program. The LIHTC sector of the multifamily industry is highly regulated with complicated ownership structures and transactional nuances. The national client base focused in this sophisticated niche requires a MAHP’s industry knowledge, market penetration, capital structuring and placement, and principal experience. These competitive advantages ensure that the firm outperforms the traditional brokerage model in the affordable housing area.
HEADQUARTERD IN WASHINGTON, DC
Complimenting MAHP’s experience in the LIHTC space, and the two decades of successful multifamily investment and advisory services of its leaders, are the firm’s close working relationships with the key constituent groups that collectively shape the LIHTC industry. MAHP benefits from being headquartered in Washington, DC and having immediate access to the accounting firms, law firms, consultants, congressional staffers, and agency workers that drive the regulatory and legislative initiatives in the LIHTC arena. These relationships are valuable to MAHP maintaining industry contacts and up-to-date knowledge of current and future industry trends.
BROAD RANGE OF BUYERS
The MAHP platform has a competitive advantage by combining its specialized knowledge of LIHTC transactions with a broad network of buyers, lenders, public entities, non-profits and equity sources. The distribution channels for transactions span from the largest operators and capital sources to the smaller, entrepreneurial platforms. MAHP has tremendous regional presence and far-reaching relationships that have been cultivated over two decades of transactions.
EXPERTISE IN DEBT & EQUITY CAPITALIZATION
Additionally, MAHP’s specialized expertise in multifamily finance enables it to bring a comprehensive approach to the marketing of each transaction to maximize the value to clients. MAHP does more than a traditional brokerage company and strives to exceed clients’ needs by consummating transactions efficiently, effectively, and at the greatest value. The team has extensive “real world” experience in the origination and structuring of these transactions that it utilizes during the disposition process.
MAHP’s experience on the principal and brokerage sides of the business helps achieve the best possible terms for clients. When developing pricing models and offering packages for LIHTC deals, the firm analyzes every aspect and assumption as if it was the owner. This approach builds market buy-in to the proposed pricing or financing request. Thus, buyers and capital sources can be anchored at financial terms that support a transaction. For more nuanced transactions, MAHP leverages its knowledge by assisting clients in exploring alternative financial scenarios including partial sales (GP or LP), equity recapitalizations, debt refinancings, and joint ventures.