Evergreen Partners is a Portland, Maine based real estate investment company focused on the acquisition of federally assisted multifamily rental properties throughout the United States. Evergreen Partners’ focus is to physically stabilize and preserve the affordability of housing for low and moderate income residents using a full range of public and private resources. Typical transactions involve both the retention of existing property subsidies (e.g. Section 236 Interest Reduction Payments, project-based Section 8) and reinvestment of new tax credit equity. Certain properties are better served through a more conventional debt and equity approach. We have the capacity and financial wherewithal to structure and implement the optimal transaction plan for a given property.

In addition to our expertise with programs and finance, we have a record of reaching out to residents, local officials and other community constituents. This dialogue ensures that we fully understand the needs of our residents, the role that a property plays in the community, and the opportunities to optimize the revitalization and operations of a property. The result is that we create very strong properties and have earned the confidence of financing partners, HUD staff and allocating agencies across the country. This set of attributes and accomplishments makes us a good partner to sellers and to existing residents. We leverage resources to pay fair value for properties, and we support the properties through comprehensive rehabilitation and sufficient operating budgets.

Evergreen Partners is formed by four principals, each with substantial background in the redevelopment and ongoing management of affordable housing. Over the past seven years, the partners have participated in the acquisition and recapitalization of more than sixty properties around the country. Many of these were completed under banner of the Wishcamper Group. All four of the Evergreen principals were also a part of the Wishcamper Group and continue to be involved in the ownership of the properties developed by that group. We created this new partnership in January of 2006 when Joe Wishcamper, our friend and colleague and one of the founders of the Wishcamper Group, decided to move on to new ventures.

Our affiliated property management company, Preservation Management, Inc (PMI) shares office space with Evergreen in South Portland, ME and manages over 6,000 apartments in 8 states. The management portfolio includes virtually all types of regulated properties – Project Based Section 8, Section 236, Section 515, and Low Income Housing Tax Credit. The company is proud of its ability to administer these complex programs and of its excellent regulatory compliance record. PMI has an unwavering commitment to serving its residents by providing high quality housing and ensuring that residents’ individual needs are met through supportive services. You can learn more about Preservation Management at www.presmgmt.com.

Evergreen’s goal is to continue the work we have been focused on for the past seven years – acquiring, stabilizing and preserving older regulated properties. We have established excellent relationships with debt and equity partners, agencies and HUD staff by consistently performing and by doing what we say we will do. We have a strong capital base, and the development and management infrastructure to take on a broad array of challenges. The operating performance of our portfolio properties demonstrates our ability to make the right decisions regarding financial structure, renovation scope and marketing strategy. We look forward to building on our successes and to creating great results for our partners, residents and communities.