Posted by | March 27, 2017

Realizing the Dream

Veloce Partners provides a broad range of consulting and advisory services designed to help for-profit and non-profit developers streamline planning, financing and project management activities. Veloce Partners also provides asset advisory services designed to help institutional investors maximize the value of existing loan portfolios. In all cases, clients benefit from Veloce Partners’ insights and extensive experience guiding projects to a successful completion.

FINANCIAL ADVISORY SERVICES

Veloce Partners provides expert financial advice throughout the development process, including:

    • Review of development objectives
    • Recommendations for financing strategies
    • Preparation of budgets
    • Identification of debt and equity financing sources
    • Assistance with closing loans
    • Expert witness analysis and testimony for litigation

      • Veloce Partners can also identify opportunities to utilize low income housing tax credits, historic tax credits, tax increment finance, HOME & CDBG finance, conventional lending, and tax-exempt bonds
      available for both for-profit and non-profit developers.

    PROJECT MANAGEMENT SERVICES

    Veloce Partners provides seasoned project management services including:

    • Assistance with negotiations and planning activities with public agencies
    • Coordination of services with project contractors, architects and consultants
    • Serving as the owner representative throughout construction

      • Veloce Partners works to ensure projects are completed on time and budget, helping minimize risk developers might otherwise face with extended project schedules and carrying costs.

    ASSET ADVISORY SERVICES

    Veloce Partners provides asset advisory services for institutional clients, including:

    • Development of restructuring strategies for under-performing investments
    • Identification of new affordable housing investments and loans

Financial Advisory Case Study

  • VELOCE PARTNERS’ ENAGEMENT WORKED TO SAVE AND REHABILITATE MORE THAN 300 UNITS IN LONG BEACH, CA.

    BACKGROUND

    An established property owner wanted financing to redevelop its existing rental housing and ensure continued control of the properties. The owner also sought to streamline accounting and oversight through consolidation of ownership and financing, while providing funds for property rehabilitation.

    SPECIFIC CHALLENGES

    The properties included various sizes and locations and none of them were viable on a stand-alone basis for new financing or use of the lowincome housing tax credit program. To complicate matters, the prior loans covered a broad range of terms, maturity dates, regulatory covenants and prepayment restrictions.

    STRATEGY & SOLUTION

    Veloce Partners developed a new financial plan that was successful in meeting all the client’s needs. The plan used a combination of cityissued tax-exempt financing, restructuring of existing loans, consolidation of regulatory agreements, and consolidation of scattered sites as collateral for a single, new loan and ownership structure. This new structure enabled the client to retain management oversight of the property, receive a developer fee, and fund all
    necessary renovations.

Project Management Case Study

  • AGENCIES CAN LEVERAGE LIMITED STAFF BY ENGAGING VELOCE PARTNERS TO MANAGE PROJECTS TO COMPLETION.

    BACKGROUND

    A city in Southern California selected a non-profit to redevelop one of their sites. The developer needed help coordinating the architectural and consultant teams, and preparing construction bid documents. The developer also needed assistance presenting designs to the city council for approval and with negotiation and closing of construction financing and equity investments.

    SPECIFIC CHALLENGES

    The non-profit was understaffed, over-committed to other projects,
    and unable to handle the extensive pre-development planning
    requirements imposed by the city.

    STRATEGY & SOLUTION

    Veloce Partners acted as an extension of the developer’s in-house staff and effectively represented them throughout the development process. This allowed the developer to focus on completing their existing projects, then
    gradually assume independent responsibility for the new project as staff
    became available. Veloce Partners’ direct experience as a developer and
    consultant allowed for a seamless and successful transition during the
    pre-development process.

Asset Advisory Case Study

  • VELOCE PARTNERS PROVIDES HIGH QUALITY INVESTMENT OPPORTUNITIES TO HELP LENDERS MAINTAIN COMPLIANCE WITH CRA LEGISLATION.

    BACKGROUND

    An institutional investor wanted to purchase a portfolio of affordable, multi-family project loans but lacked the capacity for proper underwriting. The investor needed help performing a due diligence review of each potential loan file, including inspection of loan documentation, underwriting criteria and historical financial performance. These factors were to be used to support its loan purchase negotiations and pricing decision.

    SPECIFIC CHALLENGES

    The loan portfolio included a broad range of loan amounts, borrowers, property types, locations and underlying financial strengths. The diversified scope of the portfolio made reliance on statistical criteria an inappropriate method to analyze the information. Instead, each loan had to be individually evaluated in a short due diligence period.

    STRATEGY & SOLUTION

    Veloce Partners performed a due diligence review of each file, then prepared a summary of historical and projected operating performance with recommendations regarding the strengths and weaknesses of each loan. Now, years after the transaction was completed, the loan portfolio continues to perform successfully and in-line with investor expectations.