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Oceancrest provided due diligence services on a pool of twleve loans, backed by elderly Section-8 Housing of the Northeast US, for which the client was a joint venture equity partner. The assignment included a full review of all legal files, loan documents, servicing files, and third party reports.
Onsite inspections of the assets and their respective markets were also provided. During this process, it was required that Oceancrest conduct extensive interaction with the Department of Housing and Urban Development. Research regarding disposition of the assets and the disposition of their respective reserves were also completed.
From the findings, Oceancrest concluded a value and formulated an exit strategy for the client.