1. Portfolio transactions – Case study
Greystone Affordable Development

2. Greystone Affordable Development
Portfolio Preservation Transactions
AL, GA, FL, KY, NC, NJ, OK, SC, TN, VA
12,500+ units
318 properties

3. Milestones Initial Analysis Architectural Plans & Specs
Third Party Report Analysis
Financing Applications
Financing Commitments
Closing Documents/Initial Closing
Post Closing

4. Initial Analysis Initial portfolio sizing QAP Abstract
Financial, Architectural, Construction waivers
Agency Concept meetings
Determining Bond Issuer
Relocation
Final portfolio sizing

5. Architectural Plans & Specs
General Contractor Selection
Architect Selection
Site Visits
Written SOW
Accessibility Consultant
Construction Costs
Plan Approval
Preconstruction Walks

6. Third Party Report Analysis
Appraisals
Hazardous Materials Testing
As Is Capital Needs Assessments
Post Rehab Capital Needs Assessments
Phase I Environmental Reports
Market Study
Zoning Letters
Survey

7. Financing Applications
538 NOSA Response
Financial Waivers Submission
Soft Funds-HOME, NHTF, AHP, etc.
Transfer Application
MPR Full Application
State Allocating Agency Submissions (4% LIHTC Application)
Housing Assistance Payment Contract Assignment & Renewal, if applicable

8. Financing Commitments
Equity Investor
RD- Schedule A (Concurrence)
RD Letter of Conditions
Lender Commitments
TEFRA Approval
Bond Resolution
Application for Volume Cap

9. Initial Closing Execute Documents RD Documents Bond Documents
Amended & Restated Operating Agreement (admit Investor)
538 Loan Documents

10. Post Closing Construction Cost Certification/8609 Stabilization
Permanent Debt Conversion/Commencement

11. Hallmark Georgia Preservation Portfolio
26 Properties (23 Post closing)
1,310 units

12. Hallmark Georgia Preservation Portfolio Cont’d

13. Hallmark Georgia Preservation Portfolio Cont’d

14. Hallmark Georgia Preservation Portfolio Cont’d

15. Contact Information
Greystone Affordable Development 4025 Lake Boone Trail, Suite 209 Raleigh, NC (919)