Moran & Company understands that leverage can add value to a property, especially
when that leverage has substantially below market rates. Approximately 25% of the apartment
communities we have sold to date have been financed with tax exempt financing. We have been
awarded this business because of our unique sensibilities to the value created by this type of financing.
Approximately 1/3 of the properties owned by Moran & Company principals are encumbered with
tax-exempt debt. We negotiated this financing with issuers, credit enhancers and bond underwriters.
We have assisted owners in restructuring their debt prior to sale to maximize its value to a prospective
purchaser. We understand and can communicate the challenges and opportunities created by this type
of financing and can capitalize this value for the seller.
