THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2017 and 2016
NOTE 14 - PROPERTY MANAGEMENT The properties are managed by the management companies as follows:
Property Name
Management Company
Location
Alexander House
Edgewood Management
Hagerstown, MD Washington, DC
Anacostia Gardens Bayview Towers Benning Heights
Winn Properties
HallKeen Property Management
Stamford, CT
Winn Properties
Washington, DC
Bolton North Cleme Manor Clipper Cove
Atlantic Coast Management LLC
Baltimore, MD
Lynd Management
Houston, TX
TPI, Inc.
Boynton Beach, FL
Columbia Heights Village
Winn Properties
Washington, DC
Covent Hotel
Latter & Blum
Chicago, IL
Forest Park
Realty & Mortgage
New Orleans, LA
Foxwood Manor
Winn Properties - Landex Management
Levittown, PA
Harvest Homes
HallKeen Property Management
Chicago, IL
Hollybush Gardens
Heartland Housing Heartland Housing
Glassboro, NJ Charlotte, NC
LaSalle at Lincoln Heights
Mark Twain Hotel
Edgewood Management Hettig Management Shinda Management
Chicago, IL
Parkchester
Washington, DC
Peppertree Manor
Houston, TX
Plaza Borinquen
HallKeen Property Management
Bronx, NY
Ship's Cove
McCormack Baron
Fall River, MA
St. Luke's Plaza
Winn Properties
St. Louis, MO
Takoma Place
CIH Properties
Washington, DC
The Pines at Carolina Place The Roundtree Residences
HallKeen Property Management
Pineville, NC
Latter & Blum
Washington, DC Washington, DC New Orleans, LA
The Strand
Winn Properties - Landex Management
Walnut Square
NDC Real Estate Management, Inc.
Washington Dodd
Winn Properties
Orange, NJ
Winter Hill
Beacon Communities
Falls Church, VA
NOTE 15 - COMMITMENTS AND CONTINGENCIES Guarantees
Forest Park’s acquisition and renovation work was financed with a mortgage note, federal low- income housing tax credits (LIHTC) issued by the State of Louisiana, and an acquisition loan from Forest, the seller of the property. NHPF and/or Preservation Partners provided certain guarantees to facilitate this transaction. The most significant guarantees are:
(1) Operating deficit guarantee - NHPF has guaranteed that the property will operate at a sustainable level during the 15-year tax credit compliance period.
- 41 -
Powered by FlippingBook