Affordable multifamily housing is a valuable investment class that has many upsides for savvy commercial real estate stakeholders. It is a secure asset over time, and demand for affordable housing is reliable. It can help diversify your portfolio during times of market uncertainty. Sometimes, these investments are even required by REITs or other investment vehicles looking to expand their portfolio to include assets that provide security, tax credits, and/or government funding.
As such, US Department of Housing and Urban Development (HUD) programs, including Transfer of Physical Assets (TPA) and Housing Assistance Payment (HAP) contract renewals are particularly in demand during economic downturns. Affordable housing contract renewals occur on 10- or 20-year cycles, which means many contracts initiated during the last recession are coming due. Other newer stakeholders, who may not have experience with HUD Asset Management programs, may be executing these deals for the first time in preparation for a potential downturn.
Asset Management-related HUD deals are unlike other CRE transactions, as they may include unique reporting requirements and stringent compliance standards. To optimize success in your business goals, these are the most important things you should know before initiating a TPA or HAP deal.
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