“I have worked with the principals of Chesapeake since the inception of Cinnaire in 1993. They have proven to be the most highly skilled and knowledgeable group of professionals we have ever worked with in this industry. Their creative and entrepreneurial approach to real estate development and finance have made them the number one choice for Cinnaire to assist us in complex and difficult real estate transactions. The use of Chesapeake in our Housing Tax Credit Year 15 disposition strategies has produced results for our investors that were beyond their expectations and has been a model we use in all of our disposition strategies. They are real estate experts extraordinaire with the added benefit of being socially minded. They not only care about the investor and owner benefits but also take into account a positive outcome for the residents.”
“RPS engaged CCA in 2005 to assist in the disposition of RPS’s affordable housing portfolio, which consisted of over eighty properties, located throughout the country. The successful conclusion to our portfolio disposition is in large part attributable to Ben and David and their team at CCA. Though faced with a multitude of problems, including properties with extensive deferred maintenance, difficult regulatory agencies and severely distressed financial markets, CCA brought resolutions to our issues that were consistently satisfactory to all parties concerned. The depth and scope of CCA’s expertise in the many facets of the affordable housing industry proved invaluable. It has been a privilege and a pleasure to work with such a group of professionals.”
Gorman Management Company (GMC) is a legacy Section 8 owner/manager in Oklahoma that was established in 1978. We were introduced to CCA through Ben Etheridge in 2012 and closed our first two 9% LIHTC deals that year. Since then, we have closed an additional nine deals that are a mix of for-profit and non-profit owned properties (and three in process). Most of our deals are complicated and require expertise in all levels of affordable housing (HUD, LIHTC, FNMA, etc.). CCA has brought expertise as our development partner to all of these deals that was essential to their success.
We have worked on numerous types of financing with Chesapeake Community Advisors over the past ten years. They have ranged from FHA mark-to-market loans to Fannie Mae financing with various levels of renovations on developments across the country. What we have found is that there are very few advisors and partners like CCA who have the expertise to guide a deal literally from day one when looking at the feasibility of a deal through to the construction and lease-up of a property. We value working with CCA for their knowledge, ingenuity, dedication and hard work to come up with the best possible outcome for their partners and residents.
We were aspiring to take one of our HUD projects through a LIHTC transaction to receive much needed rehab of a senior building in Detroit. We weren’t equipped to handle the process ourselves and not knowing where to turn, CCA came highly recommended by a colleague. We haven’t looked back since. David Prout and the CCA team guided us and the nonprofit owners through the full development process. They took the worries out of our hands and led us down the path. Their vast knowledge of the LIHTC process; working with he governmental agencies; obtaining LP investors and the smooth construction process during the tenant in place rehabs were over the top. They are true leaders in the industry. We have since taken three other projects through the process and another in the pipline.