16 Appdx - for PRA

Lender Qualifications for Multifamily Accelerated Processing (MAP)

16 Appdx - for PRA

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Appendix 16
Organizational Chart for Lease Structure



MF Housing currently requires the MAP Lender to provide a rendering of an organizational structure in the Underwriter Narrative for a loan application. Examples of two structures are below.





Organization Structure/Transaction Chart

(Federal Historic, State Historic, New Markets Tax Credits)



State Historic Tax Credit Investor 0.1%


Managing Member (Building Manager, LLC) 99.99%

Shape1

Managing Member 94%

Shape2





Owner/Landlord Singe Asset Mortgagor Entity (Owner, LLC)

Shape3


Shape4

Member 1%









Shape5

Member 1.6665% Member 1.667% Member 1.6665%







Shape6

HUD Insured Loan



Shape7





Master Lease

Shape8

Master Commercial Sub-Lessor (Operating Company, LLC)

Shape9

Property Management Agreement





Shape10

Managing Member (Building Manager, LLC) 0.01%

Shape11



Apartment Manager






New Markets/Federal Historic Tax Credit Investor Member 99.99%

Shape12


Shape13

Residential Leases with Tenants



Shape14



Managing Member (Building Manager, LLC) 100%

Shape15

Commercial Master Tenant (Commercial Sub-lessor, LLC)








Leases with Commercial Tenants

Shape16








16A Sample Master Lease Ownership Structure

Organization Structure/Transaction Chart

(Federal Historic, State Historic, New Markets Tax Credits)


State Historic Tax Credit Investor 0.1%


Managing Member (Building Manager, LLC) 99.99%

Shape17

Managing Member 94%

Shape18





Owner/Landlord (Owner, LLC)

Shape19


Shape20

Member 1%









Shape21

Member 1.6665% Member 1.667% Member 1.6665%







Shape22

HUD Insured Loan



Shape23





Master Lease

Shape24

MASTER TENANT – Operating Company/Tenant (Operating Company, LLC)

Shape25

Property Management Agreement





Shape26

Managing Member (Building Manager, LLC) 0.01%

Shape27



Apartment Manager






New Markets/Federal Historic Tax Credit Investor Member 99.99%

Shape28


Shape29

Residential Leases with Tenants



Shape30



Managing Member (Building Manager, LLC) 100%

Shape31

Commercial Master Tenant (Commercial Sublessor, LLC)








Leases with Commercial Tenants

Shape32







Appendix 16 OMB Version Page 5 of 5

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AuthorBurleigh, Robert J
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File Created2021-07-29

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