NLHA 2025 Mid-Year Meeting with John Doyle's Presentation on Limited Partner Interests
John Doyle, MAI and David Davenport presented at the Mid-Year Meeting on valuing limited partner interests and the valuation and litigation solutions available to stakeholders.
The presentation covered the historical goals and expecations of investors and developers, as well as the emergence of aggregators in recent years.
This recent trend is a result of an emergence of "affordable housing asset management" firms that view the partnership agreements as pure financial instruments--rather than projects intended to promote low-income housing.
Both John Doyle and David Davenport have extensive experience in consulting and litigating limited party interests.
“Aggregators”, as they are referred to in the LIHTC industry, are private firms that have collected limited partner interests in LIHTC entities that own affordable housing. These organizations employ vulture strategies meant to extract unintended cash windfalls out of affordable housing projects.
Nonprofit and profit-based organizations are being deprived of the hard-earned exchanges that first incentivized them to develop the affordable housing and participate in the LIHTC program.