Is your tax credit property struggling with unserviceable bond financing, deferred maintenance or occupancy issues?
The National Tax Credit Property Advisors (NTCPA) of Marcus & MIllichap have discovered solutions for troubled assets in every region of the U.S. We have helped a number of our clients protect their interests, prevent foreclosure, and avoid recapture of their tax credits by successfully selling their non-performing assets and still maintaining affordability after the sale.
We have successful sold properties that were either in jeopardy of having or already had their loans defaulted on. Details include:
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An aggressive Buyer who was able to recapitalize by putting equity into the deal and guaranteeing credit delivery and operating deficits
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A Seller avoided recapture of tax credits; Buyer provided guarantee of surety bond
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One asset alone yielded significantly higher price (over $2 million higher) for Seller
To learn more about exit options as your workout strategy for troubled tax credit assets, give us a call at (206) 826-5700.
