Acquisition, Rehab
Everett Housing Authority
Bakerview/Grandview Housing

Financial and Development Consultant to Housing Authority for 2 of their existing owned public housing projects. Scope included acquisition due diligence, financial analysis, value determination, Capital Needs Assessment and inspections, preparation of Owner’s Construction Program for $17million renovation, contractor and architect procurement under a Design-Build method, construction cost estimating, HUD application and financing plan submittal, HUD relationship lead, lender and investor procurement and selection, lender and investor negotiations, lender and investor due diligence, partnership and debt document edit and review, tax credit application, resident relocation planning and implementation, construction loan structuring, and transaction closing lead. Post closing services included relocation and asset management oversight, project cost tracking and construction draw submittals, facilitating investor equity pay-in(s) and the final cost certification. Brawner’s subsidiary, McCullough Allen provided Owner’s Representative services prior to and during construction.

  • GEOGRAPHY TYPE: Urban
  • CLIENT TYPE: Housing Authority
  • FINANCING TYPE: 4% LIHTC
  • PROJECT TYPE: Acquisition, Rehab
  • SUBSIDY TYPE: RAD/Streamlined Conversion, HUD Repositioning
  • NUMBER OF UNITS: 299
  • LENDER: CITI Bank
  • LIHTC INVESTOR: RBC
  • EQUITY INVESTMENT: $21,500,000.00
  • FINANCING SOURCE:
    4% LIHTC, Privately-Placed Tax-Exempt Construction and Permanent Financing, Seller Financing
  • REHAB / NEW CONSTRUCTION VALUE:
    $17,200,000
  • TAX-EXEMPT CONSTRUCTION BOND FINANCING AMOUNT:
    $31,750,000
  • TAX-EXEMPT PERMANENT LOAN AMOUNT:
    $6,250,000
  • DEVELOPMENT / FINANCING BUDGET:
    $61,500,000
3
8
7
6
5
4
2
1

Explore our other projects

Acquisition, Rehab
Peninsula Housing Authority
New Construction
Housing Authority of Clackamas County
Acquisition, Rehab
Housing Authority of Washington County