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Asset Management

Protect your investments
with NNEHIF—please contact:

Jan McCormick,
Director of Asset Management/VP
207.772.8255 x15 :

Effective asset management requires a thorough understanding of real estate performance and its integration with investment returns to ensure delivery of tax credits and other benefits to each of NNEHIF's funds and direct investors. Our asset management is characterized by abundant technical assistance to managers as well as collaboration with capable local professionals.

NNEHIF's asset management begins before there is an asset to manage. Our staff assists in underwriting prospective deals and review of operating budgets, design issues and tenant selection plans from an operator's perspective. We promote management expertise in both fundamental real estate operations and in regulatory compliance. We support sponsors new to running tax credit properties by assessment of staff and procedures, upgrading of management documents, and hands-on assistance with critical steps such as lease-up.

Key Asset Management Functions

• Monitors construction and lease-up progress on a monthly basis, through tax credit delivery, to stabilized operations
  
• Analyzes the operating performance of invested properties and report to investors quarterly, covering occupancy, income, expenses, debt coverage and restricted reserves
  
• Conducts annual property reviews including site inspection and tenant file audit beginning at initial full occupancy

Spectrum Enterprises—Third-Party LIHTC Compliance

• Works closely with NNEHIF Staff ensuring appropriate oversight and providing technical advice
  
• Participates in pre-occupancy meetings arranged by NNEHIF and including project sponsor, property manager, and housing finance agency to familiarize all parties with deal terms
  
• Available throughout our investment holding period, at no cost to sponsors or managers to assist operators in resolving asset management compliance questions

Our Mission

• To avoid compliance problems before they start by making expert guidance readily available to General Partner and Property Manager Staff
  
• To educate managers through early intervention and technical assistance
  
• To provide continuing education to our partners with maximum convenience and minimal cost through collaboration with national compliance trainers
  
• To share our collective experience with partners, managers, consultants, other capital sources and HFA’s to bring “real world” perspective to future decision-making through forums hosted by NNEHIF