For Developers
The Community Investments Group of AURA places equity investments with knowledgeable developers in quality affordable housing communities nationwide. The Community Investments Group invests in low-income housing and historic tax credit partnerships, with both for-profit and non-profit sponsors. We look for development partners who have histories of success and are dedicated to building long-term, high-quality affordable housing. Each development goes through only one Investment Committee review and one underwriting, and we work with well-informed and experienced counsel to affect a timely closing. We have the ability to customize our equity funding schedules to meet the needs of each project.
Benefits of AURA's Community Investments Group:
- Professional staff with backgrounds in community development, finance, property management, and tax issues
- Streamlined closings with one Investment Committee review and one dedicated team
- Experienced Asset Managers that are a resource rather than a roadblock
- Creative solutions to complex problems
- Ability to buy tax credits in virtually all U.S. Markets
- Consistently honored commitments through down real estate market cycles
- Nearly $3 billion in committed equity
Initial Developer Information Request:
- Financial Statements (3 previous years)
- Tax Returns
- Real Estate Owned schedule
- Resumes for the Development team
- Summary of previous related experience
- Organization Chart
Initial Project Information Requirements:
- Project Description
- Strengths of the market, real estate, and the Development team
- Detailed Sources & Uses
- Pro-forma Operating Statement
- Anticipated Basis, Anticipated Allocation
- QCT or DDA
- Dates
- Construction Start and Completion
- Lease-up Start and Completion
- Stabilization
- Conversion
- Receipt of 8609
- Projected Funding Schedule
- Tax Credit Application, Reservation, or Allocation (as available)
- Market Study/Appraisal (as available)
- Developer Intake Form (external link)
(Please complete and email to a team member found in Contacts, or contact a team member for .xls format)
The amount of time spent in each stage varies based on the complexity of the transaction and the cooperation of all parties.
For Investors
The Garnet Community Investments Group of AURA offers institutional investors guaranteed affordable housing investment products. Garnet Community Investments leverages the expertise and resources of AURA's Community Investments Group to source and underwrite affordable housing investments for its business.