COHEN-ESREY AFFORDABLE PARTNERS, LLC

Cohen-Esrey Affordable Partners, LLC (CEAP) was formed in 1994 to develop and acquire affordable multi-family housing across the United States. The firm utilizes Section 42 tax credits as well as HUD programs to achieve its mission. In addition to developing new multi-family communities, CEAP is an active purchaser of existing apartment complexes. CEAP completed the first for-profit Section 236 de-coupling in the nation and has structured a number of projects utilizing tax exempt bond financing, Federal Home Loan Bank loans, HOME loans, state and federal affordable housing tax credits, state and federal historic tax credits and a variety of other programs. The company has re-developed an historic hospital and former school properties into seniors housing. It has built single-story senior housing and two-story family apartments. In addition, CEAP has been installed as the replacement general partner in a number of tax credit properties where the investor desired to bring in new ideas and strategies. Over the years CEAP has worked with a number of investors and federal syndicators including:

The current objective of CEAP is to acquire existing tax credit properties of 100-units or more which are nearing or have reached the end of the initial 15-year tax credit period. The firm also desires to acquire other existing properties - either conventional or HUD apartments, or buildings that are convertible to affordable housing. Finally, CEAP continues to seek replacement general partner roles in existing tax credit properties. The firm will pursue opportunities in thirty-one states that have been targeted.