Drawing upon our years of experience and broad industry relationships, Rockport is uniquely positioned to further enhance the value we create for our affordable housing clients, lending our deep expertise to provide strategic consulting services. Rockport has successfully advised clients nationwide on the development, implementation and closing of all aspects of HUD-assisted preservation transactions, affording our clients a competitive advantage in navigating the complexities of recapitalizing older HUD-assisted and insured multifamily properties. Through our comprehensive approach to recapitalization, we assure our clients will carry on their mission to provide vital resources to the affordable and low-income housing market.

Rockport has worked with many profit and nonprofit mortgagors to help recapitalize their projects originally financed through Section 236, 221 (d)(3) BMIR and Market Rate programs, Section 221 (d)(4), and State-Agency programs. Using our affordable housing expertise we develop transaction strategies using the multitude of preservation tools made available by HUD. Examples of such programs and tools include:

  • HUD’s Section 8 HAP Contract Renewals/Long-Term Contracts
  • Mark-Up-To-Market
  • Mark-Up-To-Budget
  • Section 8 Enhanced Vouchers
  • Section 8 Project Based Vouchers
  • Section 236 IRP Decoupling
  • ELIHPA (Emergency Low Income Housing Preservation Act) Recapitalizations
  • LIHPRHA (Low Income Housing Preservation and Low Income Housing Act) Recapitalizations
  • Flexible Subsidy Use Agreement Renegotiation.

“Rockport’s significant experience with affordable housing clients may be best exemplified by our successful completion of approximately 90 refinance transactions of Section 202 properties, totaling in excess of $300 million in mortgage loans closed (primarily) under HUD’s 223(f) program.”

Rockport has closed MAP loans as part of more complex transactions involving such programs as:

  • Low Income Housing Tax Credits (LIHTC)
  • Short-Term Tax Exempt Cash-Collateralized Bonds
  • Build-America Bonds
  • Tax Credit Assistance Program (TCAP)
  • Tax Credit Exchange Program (TCEP)