Debt to Equity Investor Services

The government seeks a firm to provide investor services and financing support for restoring a neglected senior housing high-rise in Pennsylvania through debt to equity conversion.

Submit proposals no later than 3:00 PM on April 10th, 2026
Provide a Financing Team Profile detailing organization, assigned personnel, and relevant project experience (up to 10 examples for investor equity in housing authority projects and up to 10 examples for lender debt in housing authority projects)
Identify the lead attorney and their relevant experience
Include due diligence and closing checklists from the Investor, construction lender, and permanent lender
Complete the Schedule of Debt & Equity Terms (Exhibit D)
Provide Draft Commitment Letters or Letters of Intent from the Investor, construction lender, and permanent lender
Commitment letters must include a schedule of equity and developer fee payments (price per credit, timing, and conditions for each installment)
Commitment letters must detail all required guaranties and Development reserves, including release dates
Commitment letters must specify any covenants, representations, and warranties of the General Partner and/or PHA
Commitment letters must list any legal, third party, or other fees to be paid by the Partnership at closing
Commitment letters must include any ongoing asset management fees and other Investor expenses/fees payable by the Partnership
Commitment letters must provide an estimate of year 15 exit tax for the limited partner's withdrawal from the Partnership
Commitment letters must include a proposed sale price for the limited partner's interest by the second anniversary from the end of the initial 15-year LIHTC compliance period
Commitment letters must specify any negative or positive equity payment adjusters
Commitment letters must detail the distribution of net cash flow
Commitment letters must outline any requirements or limitations on fees earned by the Partnership, property manager, and/or the General Partner
Commitment letters must address anticipated requirements for GP tax election and structuring to resolve minimum gain issues
Commitment letters must include any legal opinions required from the Partnership to the Investor
Commitment letters must include a copy of the proposed limited partnership agreement
Commitment letters must detail the structure and amount of construction and/or bridge financing, including loan terms, interest rate, and financing fees
Commitment letters must detail the structure and amount of permanent financing, including loan terms, interest rate, and financing fees
Commitment letters must include a copy of the respondent's due diligence checklist

RFP Issued: March 11th, 2026

Questions Due: April 3rd, 2026

Proposals Due: April 10th, 2026

Architectural Documents (Schematics): Completed

General Contractor/CM Identified: Completed

Debt and Equity Investor Solicitation: Spring 2026

LIHTC Application to PHFA: Spring 2026

HUD Approval and Closing on Financing: Fall 2026

Construction Start: Spring 2027

Construction Completion: Spring 2029

Lease-Up Completion: Summer 2029

Philadelphia Housing Authority

Organization overview and procurement intelligence available on paid plans.

A government authority in Pennsylvania is seeking a vendor to provide debt to equity investor services for the rehabilitation of an 11-story high rise, formerly known as Sholom. This project aims to restore 336 units of rental housing dedicated to seniors, revitalizing a property that has become uninhabitable due to prolonged neglect and serious building issues such as mold, pests, plumbing failures, utility shutoffs, and structural safety concerns.

The selected vendor will support the development’s financing needs, including construction or bridge loans and securing permanent financing. The scope also includes submitting a 2026 4% Low-Income Housing Tax Credit application, ensuring that the redevelopment delivers safe, affordable housing for seniors on fixed incomes. Vendors should be prepared to address all submission questions by April 3, 2026.

Debt to Equity Investor Services

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