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Assessment of 3,000 Unit Portfolio for POP, Catholic Charities
Brooklyn, NY

Situation

The affordable housing development arm, Progress of Peoples (POP), of Catholic Charities of the Brooklyn Diocese had suffered operating losses and was debating potential future structures and directions.

Response

The POP board decided to engage the Counselors of Real Estate (CRE) Consulting Corps to analyze the situation and provide direction. The team, including Jacqueline Buhn of Athenian, reviewed the strategies, operations, and assets of the portfolio and management.

Result

The team quickly surveyed the organization and assets and generated recommendation to POP for steps to improve accounting and reporting, board structure, and proactive planning for the portfolio with an eye toward opportunities in the current economic climate and real estate market.