Austin Herzog began his career in the multi-family industry in 2005 and currently serves as President of Real Estate Development Services (REDS) and Central California Housing Corporation (CCHC). His areas of specialty include affordable and market rate acquisitions, finance, construction oversight and monitoring, portfolio asset management, dispositions, and restructuring. He also oversees strategic planning, partnership negotiations and debt restructuring for approximately 4,900-units in the California multi-family mixed finance portfolio.
Austin’s highly specialized knowledge of multi-family housing finance includes successful executions of FHA, CalHFA, Fannie Mae/Freddie Mac debt, and multiple HUD mixed finance and RAD/public housing conversions. Other financing sources such as CDBG, HOME, tax exempt bonds, AHP and MHP are commonly used as well. He regularly serves as a consultant and speaker advising on year 15 tax credit transitions, portfolio restructuring, and asset management functions. In 2015 Austin oversaw the acquisition of 21 limited partnership interests and restructuring of a 2,200 unit $300,000,000 portfolio. These transactions included buyouts of existing tax credit investor limited partners in conjunction with project debt restructuring to increase cash flow, rehabilitate the physical assets, and maintain ownership for existing clients.
Austin works directly with clients such as affordable housing non-profit and for profit developers, Housing Authorities, and multi-family housing owners on initial concepts, structure, and oversight of transaction execution. Under Austin’s direction, REDS has completed over $300,000,000 million in financing representing over $515,000,000 million in total development costs and over 4,200 units.
Austin’s understanding of all aspects of multi-family housing allows him to provide concrete solutions to almost any problem and achieve the desired outcome for his clients and partners.
You can contact Austin by email at: email@example.com