Enhanced Affordable Housing Finance

Interest-Only Financing

Five-year terms enhance early cash flow

Keep Control

Unlike LIHTC syndication structures

Enhanced Returns

Versus conventional HUD financing

✓ SHIELD Benefits

• ✓ 4.5% interest-only (5 years)
• ✓ PHA retains ownership
• ✓ 1.35 DSCR target
• ✓ Multiple exit strategies
• ✓ Enhanced cash distributions

Traditional HUD 221(d)(4)

• • Current rates with amortization
• • Often diluted through syndication
• • 1.15-1.20 DSCR typical
• • Constrained by regulations
• • Limited by debt service coverage

Access Better Terms

Shared due diligence and enhanced negotiating power

Maintain Ownership

Keep equity and operational control of properties

Risk Diversification

Professional oversight across multiple properties