The principals of Hivernan have led transactions that range from off-market single asset purchases to a $1.9 billion 86 property competitively bid portfolio. The skills needed to source, finance, close, and operate these properties have allowed Hivernan to successfully identify, acquire, and operate its portfolio. 

  • Placed over $2.5 billion of debt with Fannie Mae and Freddie Mac including conventional first mortgage debt, structured credit facilities, subordinate loans, and credit enhancement for tax-exempt bonds.

  • Sourced a 424 unit off-market acquisition in Southern Michigan. Without the principal’s relationship with both the seller and the lender, the deal would not have been possible.

  • Negotiated the sale of 20 different properties to multiple purchasers.  

Additional principal experience includes:

  • Established a $250 million equity joint venture with an insurance company to acquire properties in the mid-Atlantic. The joint venture was later expanded to $600 million and acquired 92 properties.

  • Structured a multi-tiered equity and debt capital program for the acquisition of a $400 million 15 property portfolio. The debt structure included assumed loans (both conventional and tax-exempt), new first mortgage financing, and mezzanine debt.

  • Acquisition of an 160 unit property in Ohio which required the assumption of a HUD loan. Because of the principal’s HUD knowledge and contacts, the assumption took only 2.5 months versus the normal 5 to 6 months.

  • Purchased properties in 15 different states and over three times as many local municipalities.

HIVERNAN has closed $89 million of acquisitions since 2013.  All acquisitions are performing ahead of projections.