CRI

Project Summary

CRI, Inc., is the managing general partner for numerous partnerships, which own and operate apartment properties for low and moderate income tenants. The residents of these communities receive assistance in the form of (i) Section 221 d3 mortgages with below market interest rates; (ii) mortgages under Section 236, (iii) mortgages under Section 221d4; (iv) mortgages from state housing agencies; and or (v) Section 8 subsidies with respect to the apartment units in the complex.

As Vice President of AIMCO, Ms. Bailey led a team that provided asset management services to CRI for approximately 280 multi-family properties nationwide. Working on behalf of both the managing general partner and local owners, she worked collaboratively with regulatory agencies and management agents to address financial and physical issues of the real estate. Ms. Bailey managed the following professional services:

• Analysis of sale or refinancing transactions
• Oversee transfer of interests in a local partnership
• Review major capital improvement projects
• Review and audit property operation and management performance
• Determine appropriate rents and rent increases
• Work with regulatory agencies to develop and implement workout plans for troubled assets
• Review financial performance goals on behalf of partnership owners