For Investors
Consortium began as the exclusive full-service originator for a New York-based Fortune 500 investment banking firm’s proprietary tax credit fund. Additionally, Consortium’s Managing Member has over thirty years of previous experience with publicly held and Fortune 500 companies. He served as a Managing Director of the Tax Credit Group for the fourth largest bank in the US. As such, Consortium has extensive experience originating and managing proprietary high-yield tax credit equity funds for corporate investors. We also have a high level of appreciation for what real estate, investment, tax, and finance areas of investor corporations require. A sampling of Consortium’s typical services for investor clients include:
Origination
- Establish relationships with key principles for prospective investment opportunities
- Conduct preliminary underwriting and review of new deals
- Issue and negotiate term sheets outlining the investment parameters
Third Party Coordination
- Engage third party attorneys, underwriters, accountants and consultants on a “as needed” basis
- Review, comment upon and negotiate all legal documents
- Direct and manage underwriting process with third party underwriter
- Conduct site visits
- Review project projections from third party accountant
- Coordinate with other third party consultants as necessary (i.e. insurance, environmental)
Closing Coordination
- Maintain status as primary deal team contact on all financial, legal, and tax issues
- Maintain due diligence website
- Prepare and maintain due diligence checklist
- Manage the order, receipt and approval of due diligence
- Coordinate and facilitate closing/due diligence conference calls with deal team
- Identify, communicate and resolve issues that arise during tax credit due diligence
- Coordinate, facilitate and communicate the resolution of legal, tax and other issues with third party accountants, attorneys and developers
- Coordinate the funding process with the investor, attorneys and developer
- Oversee the completion of all post-closing items
Asset Management
- Maintain status as primary contact for the developer through the compliance period
- Coordinate, review and approve all installment funding requests
- Calculate any upward, downward or timing adjusters
- Calculate and oversee the collection of any penalties imposed on the developer as called for in accordance with the closing documentation
- Coordinate receipt of all post-closing diligence, operating reports, consent requests, cost certifications, audits, tax returns, and any other project documentation
- Coordinate, oversee, and approval of all annual reporting requirements, including an annual audit and tax return preparation by an independent accounting firm
- Issue asset management reports and conduct scheduled reviews on each asset
- Prepare all investor reporting on either scheduled or ad hoc basis
- Coordinate exit strategy at the expiration of the tax credit compliance period