CONCOURSE SUPPORTS $200M HOUSING PORTFOLIO TRANSFER
April 14, 2016
Annapolis, MD, April 13, 2016 - The Concourse Group, LLC (Concourse) recently assisted the U.S. Department of the Navy with due diligence and negotiation support to pave the way for the transfer of Forest City Enterprises’ U.S. Department of the Navy housing portfolio to Hunt Companies Inc.
The total acquisition consisted of 14,500 military housing units at bases in Hawaii, Tennessee, Illinois, Indiana, Washington, South Carolina, Mississippi, and Colorado. The acquisition value is approximately $200M.
Under a long-term contract, Concourse provides asset management and real estate advisory services for the U.S. Department of the Navy’s Public Private Venture (PPV) program. Concourse provided due diligence and negotiation support that allowed the U.S. Department of the Navy to provide consent for the transaction, while at the same time protecting the U.S. Department of the Navy’s interests.
To date, the U.S. Department of the Navy has privatized a total of 35 projects for an end-state of 61,604 family homes and 3,108 Bachelor housing units. The PPV program has allowed the U.S. Department of the Navy to eliminate inadequate homes from its housing inventory by leveraging $1 Billion in investment to obtain over $10 billion in development (10: 1 leverage).
About The Concourse Group
The Concourse Group, headquartered in Annapolis, Maryland, and with offices in Washington, DC, Colorado, and California, was founded in 2001 and provides consulting support in affordable/workforce housing, real estate privatization, finance, development, planning, and economic analysis. The firm provides end-to-end real property consulting throughout the entire property lifecycle to optimize its client’s portfolio.
Concourse won the MIT 2016 Small Business of the Year Award for its work developing a plan to recapitalize MIT’s research laboratory campus.
For More Information Contact:
Laurie Roberts
CEO, Owner
(410) 267-6064