HUD plan to end public housing aid for undocumented immigrants could lead to evictions of 55,000 children

Department of Housing and Urban Development | May 10, 2019

HUD plan to end public housing aid for undocumented immigrants could lead to evictions of 55,000 children
Approximately 55,000 children could be evicted from public housing if the Department of Housing and Urban Development goes through with a proposed plan to end public housing aid for undocumented immigrants, HUD revealed in a report on the rule change’s potential impact. Last month, HUD proposed a rule that would make undocumented immigrants ineligible for public housing aid and force them to relocate within 18 months.

Spotlight

DECK 7 is committed to protecting our customers' data and safeguarding their privacy.

Related News

Dealpath Selected as Real Estate Deal Management Solution for Manulife Investment Management

Dealpath | June 16, 2020

Dealpath, the leading software solution for real estate investment and portfolio management, announced today that Manulife Investment Management has chosen Dealpath as its real estate deal management solution. Dealpath will provide its industry-leading software solution to manage the investment pipeline and streamline the acquisition and disposition process. Manulife Investment Management’s Real Estate team will leverage Dealpath as their command center for smart pipeline tracking, powerful deal analytics and collaborative workflows empowering smart acquisition decisions, driving operational leverage and mitigating enterprise risk.

Read More

REAL ESTATE INVESTMENT

Lincoln Avenue Capital Acquires Majority Stake in HPET as part of a Landmark National Partnership to Create Affordable Housing

Lincoln Avenue Capital | November 02, 2021

Lincoln Avenue Capital, a leading, mission-driven investor in and developer of affordable housing, has signed an agreement to acquire the majority stake in a social purpose real estate investment fund, the Housing Partnership Equity Trust (HPET), which invests in affordable housing across the United States. The transition is expected to be complete by the end of this year, after which Lincoln Avenue Capital will serve as one of the largest, single private investors in affordable housing. HPET was originally founded nine years ago by major Wall Street banks, prominent foundations, and nonprofit housing organizations that came together to pioneer an innovative approach to affordable housing investment and preservation. Until now, HPET has been principally owned by some of the nation's largest and most respected not-for-profit developers and operators of affordable and workforce housing for low- and moderate-income individuals and families. In partnership with HPET nonprofits, Lincoln Avenue Capital plans to purchase at least $150 million annually in workforce and affordable housing to expand HPET's investments. The company will continue HPET's traditional focus on largely unsubsidized affordable housing (what is also referred to as "naturally occurring affordable housing" or "NOAH"). Their rents are lower than those of the area's housing market. "Building and preserving affordable housing is one of the most important social causes of our time, HPET has pioneered and proven a powerful model for bringing together private and nonprofit partners to develop and sustain affordable and workforce housing that strengthens communities. Lincoln Avenue Capital is well equipped to build on this success. We are delighted to be partnering with leading nonprofit and philanthropic organizations that share our mission to increase HPET's impact across the country." - Jeremy Bronfman, CEO and founder of Lincoln Avenue Capital. Established in 2012, HPET was built on an idea first proposed by the Housing Partnership Network (HPN), a collaborative of 100 leading affordable housing and community development nonprofits, and other housing advocates. The group advanced the idea that more private capital would be attracted into affordable housing if a real estate investment trust (REIT) could be formed with some of the nation's largest and most respected nonprofit developers and operators of affordable multifamily housing. To put the concept into action, HPN and its members worked with the John D. and Catherine T. MacArthur Foundation and other major investors including Citibank, Charles Schwab Bank, the Ford Foundation, Prudential, and Morgan Stanley Bank. Today, HPET serves nearly 3,000 households in seven U.S. states. "Expanding access to safe, affordable homes is key to our country's fight against inequality and racial injustice, We are proud to have supported HPET's groundbreaking work since inception and excited that Lincoln Avenue's partnership with HPET's leading nonprofit housing organizations promises even greater scale and impact in the years ahead." - Debra Schwartz, MacArthur's Managing Director for Impact Investments. Lincoln Avenue Capital is expected to close on the purchase by the end of 2021. It will acquire a majority interest in HPET, which it will own alongside the other institutional investors, including the MacArthur Foundation. HPET's nonprofit partners will retain ownership of 7.5 percent of the company. Other investment partners include Prudential Impact Investments Private Equity LLC, Citibank, N.A., Morgan Stanley Bank, N.A., and Charles Schwab Bank, SSB. Under Lincoln Avenue Capital's leadership, HPET will continue to aggressively seek out new housing investment opportunities and additional private capital. Beekman Advisors acted as investment banker for HPET in the transaction. About LAC: Lincoln Avenue Capital is one of the nation's fastest-growing developers and investors of affordable housing, providing high-quality, sustainable homes for low-income individuals, seniors, and families nationwide. LAC is a mission-driven organization with a portfolio that includes 88+ properties, comprising 15,000+ units and serving more than 43,000 residents across 14 states. About HPET: Housing Partnership Equity Trust (HPET) is a national, social-purpose real estate investment fund created by nonprofits to raise capital for affordable housing. HPET collaborates with its partners to acquire and preserve affordable rental housing in opportunity neighborhoods with the components critical to household success. HPET's nonprofit members are AHC Inc., Aeon, BRIDGE Housing Corporation, Chicanos Por La Causa, Inc., Eden Housing, Inc., Enterprise Community Development, Inc., Hispanic Housing Development Corporation, Homes for America, Housing Partnership Network, LINC Housing Corporation, Mercy Housing, Nevada HAND, Inc., NHP Foundation, NHT Communities, and POAH.

Read More

REAL ESTATE INVESTMENT

Archer Announces Revolutionary Data-Powered Underwriting Tool for Multifamily Investors

Archer | August 23, 2021

Archer has unveiled AIM Automated Underwriting, a data-driven underwriting tool that significantly enhances the multifamily underwriting process and reduces the amount of time required to complete a first underwriting from days to minutes. AIM Automated Underwriting solves one of biggest challenges that real estate investors face today – evaluating and underwriting deals efficiently and effectively. With AIM Automated Underwriting, investors can complete a first underwriting of any multifamily property in less than 15 minutes. "Quality underwriting is crucial to the successful execution of an investment strategy, but speed also matters because investors that act quickly have an advantage over their competitors," says Thomas Foley, co-founder and CEO of Archer. "Before AIM Automated Underwriting, investors had to choose between speed and quality. AIM Automated Underwriting gives investors all the information they need to estimate expected returns, mitigate known risks, and take advantage of upside potential." AIM Automated Underwriting supports Archer's mission to make real estate investing easier through better data, technology, and local expertise. The tool is an extension of AIM, Archer's proprietary technology platform, which helps investors source opportunities by converting raw, disjointed data into actionable market intelligence with a click of a button. "Real estate investors today are overwhelmed and stretched," says Fred Canney, co-founder, COO, and CFO of Archer. "Their teams are trying to do more with less and are constantly looking for ways to differentiate their capabilities. AIM Automated Underwriting not only vastly improves the quality of each underwritten model, it also gives back the most valuable commodity of all: time." By leveraging machine learning, AIM Automated Underwriting predicts operating costs, identifies the best comps in the market for revenues or sales, and automatically sorts through thousands of comparable properties to select only the best. It then organizes the information in a useful and intuitive way through a user interface that helps real estate acquisitions teams quickly apply their expertise to adjust the base level assumptions as needed. AIM Automated Underwriting provides: Speed to the first underwrite – 15 minutes or less for a full multifamily evaluation, with or without a rent roll or T-12 Transparency in decision making – see all rent, operating costs, and sales comps; understand why each comp was chosen, and importantly, which comps were not chosen and why Expansion of scope – with an automated underwriting model, investors can look at more deals than before, prioritize deals faster, and choose where to spend their time "I can't imagine going back to the old way of underwriting," says Miles Pratt, managing director of acquisitions for Archer. "Being able to confidently underwrite dozens of properties in several different markets in a fraction of the time is a real game-changer. Though human-level refinement is still necessary for perfecting underwriting, the speed that you can get to the refinement part of the analysis is a huge leap in productivity." AIM Automated Underwriting effectively produces a baseline underwriting complete with comparable analysis and all the information necessary for investors to make smart, informed decisions. "At Archer, we know that data is only the start of the equation – real estate professionals bring a tremendous amount of market knowledge and acquisitions expertise," Canney says. "We believe AIM Automated Underwriting helps prioritize effort, focuses human energy where it can add the most value, and allows investors to pursue more deals with the teams they have today." Q&A: Archer's Canney Explains the Ins & Outs of AIM Automated Underwriting AIM Automated Underwriting is just one of Archer's unique technology tools. The company's talented data science team recently developed a recommendation engine to help investors expand from their local market into "look-alike" markets where they have a less of a presence. The powerful recommendation engine analyzes new markets at scale that would traditionally require an army of analysts. Learn more about Archer's recommendation engine. Since launching the platform in March 2021, Archer has grown its real estate clients to more than a dozen funds and operators who are sourcing off-market opportunities in more than 25 markets. For example, Archer has partnered with a Houston-based private equity firm to expand its market entry to Austin and San Antonio. It's also working with an investor with very specific investment criteria to identify pockets of opportunity within San Diego and Salt Lake City. About Archer Archer is a real estate investment firm that helps investors build their ideal portfolios. By targeting specific cities and properties, Archer is transforming the way investors enter new markets and expand into new property types. The firm has developed a transformative technology tool, Actionable Insights Model (AIM), that merges data from trusted sources and insights from local market experts. Guided by AIM, Archer identifies the most strategic assets, allowing investors to reduce the risk associated with market entry.

Read More

Spotlight

DECK 7 is committed to protecting our customers' data and safeguarding their privacy.