Development Expertise
 
Shelter Corporation has served as both the sole private developer and the lead in public-private partnerships for a variety of projects, including rental, for sale, family, senior, high-rises, town homes and land developments. Over the years, Shelter has earned a reputation grounded in two key strengths:

Complex Financing
Success in today's housing market, especially the affordable market, requires the ability to assemble complex financing from diverse public and private sources. Company principals have experience with a variety of financing tools, including institutional joint venture, private and public equity, tax-exempt revenue bonds, tax increment financing, tax credits, Community Reinvestment Act funds and federal housing funds.

Exceptional Design and Construction Management
Through long-term relationships, Shelter has significant expertise working with contractors, architects and engineers to create beautiful and functional building designs as well as negotiating and overseeing all aspects of the construction process. Other areas of expertise include land development, soil correction, environmental issues, prevailing wages, and city zoning requirements. Shelter Corporation has a perfect record for on-time, on-budget construction and has never failed to retire a construction loan on the originally scheduled date.

 

Acquisition Expertise
 
Shelter Corporation has effectively acquired and repositioned numerous properties across the United States. Proficient in research, strategic improvements, price adjustments and marketing, company principals have proven they can effectively revitalize and manage a variety of residential real estate. Shelter delivers value to investors and communities through comprehensive market knowledge and intuitive financing.

Market Research
Market research is integral to our operations. The company performs extensive research so that it fully grasps the nuances of each housing market. Shelter specializes in analyzing demographics, economics, the political climate, building trends, pricing patterns and many other factors to maximize performance. While we have broad knowledge of our existing markets, including the Twin Cities, San Antonio and the east coast of Florida, our process allows Shelter to thoroughly analyze new markets just as effectively.

Financing
Our ability to creatively assemble intricate financing from diverse public and private sources is drawn from our vast experience in housing finance. Shelter Corporation has financed its acquisition activities using both debt and equity. Debt financing has included tax-exempt revenue bonds, institutional joint ventures, government (public) financing, participating mortgages and commercial loans.

General Partnership Interests
Shelter Corporation, an industry leader in real estate development and acquisition, is seeking to acquire general partnership interests in multi-family affordable housing properties.

Our focus is to acquire the General Partnership interests in real estate projects that were financed in part by the sale of low income housing tax credits (LIHTC) under Section 42 of the Internal Revenue Code. These projects are not common transactions and many General Partners may not fully realize the hidden value of their interests. General Partners looking to sell their interests will benefit from our experience in these transactions and can potentially generate some cash for use in other projects or operations. Shelter Corporation's benefit in these transactions is primarily through the management of the asset as the general partner and/or the potential re-syndication of the project several years in the future.

An example of Shelter Corporations Experience in these types of transactions was a seven asset deal involving 1,460 units in Florida. This transaction included the assumption of over $98 million in existing tax-exempt bonds issued by the Florida Housing Finance Corporation. In order to complete this transaction, Shelter Corporation earned the approval of the existing limited partners which included Wachovia Bank, MMA Financial, Key Bank and Capmark Financial Group.

Shelter Corporation is a national organization and open to opportunities in major metropolitan areas, with an emphasis on the major MSAs of Florida, Minnesota and Texas. The company is headquartered in Minneapolis with offices in San Antonio and West Palm Beach.