Monday, December 5, 2016

Affordable Apartment Development

Cohen-Esrey Affordable Partners, LLC (CEAP) was formed in 1994 to develop and acquire affordable multi-family housing across the United States. To date, 57 properties totaling nearly 4,000 units have been developed or acquired. The firm utilizes Section 42 tax credits as well as HUD programs to achieve its mission.

Cohen-Esrey Affordable Partners (CEAP) is also 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.

Property types redeveloped by the company include historic hospitals, former schools, hotels, mercantile and warehouse buildings. CEAP develops both seniors and workforce 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.

CEAP and its affiliate, Cohen-Esrey Capital Partners, LLC have worked with a number of investors and federal syndicators including Alliant Capital, Apollo Equity Partners, Boston Capital, CharterMac (Related Capital), Edison Capital, ESIC, GE Capital, Heartland Properties, IDACORP, KeyCorp, MMA Financial, Raymond James Financial, Richman Group, Sempra Energy, US Bank and Zurich. Currently, equity for tax credit investments is placed through the Heartland Affordable Housing Funds which are sponsored by Cohen-Esrey Capital Partners.
CEAP Objectives
  • To acquire small historic properties to be converted to seniors and workforce housing in small Midwestern towns.
  • To acquire existing 100-unit + tax credit properties nearing or past the end of the initial 15-year tax credit period.
  • To acquire other existing properties – either conventional or HUD apartments, or buildings that are convertible to affordable housing – and re-develop them as affordable housing.
  • To acquire general partner interests in existing tax credit properties.

Tom Anderson
Managing Director



6800 W. 64th Street
Overland Park, KS 66202


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6800 West 64th Street
Overland Park, KS 66202

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