TCG Reaches Milestone By Closing $1 Billion In Section 42 Low Income Housing Tax Credit Transactions
Date: 7/7/2007
FOR IMMEDIATE RELEASE
Contact:
Will Dann
Tax Credit Group of Marcus & Millichap
(206) 826-5700
wdann@marcusmillichap.com
Tax Credit Group of Marcus & Millichap Reaches Milestone By Closing $1 Billion In Section 42 Low Income Housing Tax Credit Transactions
SEATTLE, WA -- Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced that the firm’s Tax Credit Group (TCG) has closed $1 billion in Section 42 affordable housing transactions across the United States.
“TCG transformed the affordable housing brokerage market by creating opportunity and maximizing value for its clients,” explains Robert Sheppard, senior director of the TCG, which is based in Seattle. The principals possess more than 40 combined years of real estate brokerage, advisory, research and low-income housing tax credit property experience to assist investors in property dispositions and acquisitions.
Since its formation in 2001, NTCPA has closed 165 tax credit real estate transactions in 30 states. Operating under Marcus & Millichap’s National Multi Housing Group, TCG provides analysis, underwriting and disposition services to clients in every region of the United States.
“TCG's long-standing track record of successful closings, combined with its capacity to manage intricate transactions involving a multitude of scenarios differentiates this group from other brokerage teams,” says Yorkshaitis. “TCG's reputation as experts in the LIHTC (low-income housing tax credit) industry is well deserved.”
“The nation’s leading investors and general partners in LIHTC properties across the country constantly commend Robert Sheppard and his team,” explains Linwood Thompson, senior vice president and managing director of Marcus & Millichap’s National Multi Housing Group. “Robert’s expertise and the depth of the firm’s national LIHTC marketing platform, which he created, is a unique and powerful tool for the industry.”
TCG's specialization in a rapidly expanding sector of the multi-family market truly sets it apart, explains Roger Yorkshaitis, chief financial officer of The Gatehouse Cos. of Mansfield, Mass., an industry leader in developing apartment communities throughout the United States.
About the Tax Credit Group of Marcus & Millichap
TCG pioneered the market for Section 42 Low Income Housing Tax Credit assets in 2001, and is the leading real estate brokerage team focused exclusively on LIHTC properties. Its principals have more than 17 years of collective experience in brokering tax credit properties. Leveraging the national platform of Marcus & Millichap Real Estate Investment Brokerage Company, TCG has access to more than 500 multi-family real estate investment specialists and can utilize their local expertise to quickly and efficiently evaluate the desirability, marketability and value of tax credit properties. TCG prides itself on its proven hands-on approach, generating multiple competitive offers from its connection to more than 5,000 qualified investors.
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