giving everyone the chance to succeed

Giving everyone the chance to succeed™

Full Service Affordable Housing Developers

2 A C R U V A C O M M U N I T Y D E V E L O P E R SA C R U V A C A P I TA L P A R T N E R S

The latest data shows that nearly 38 million households nationwide — 31.5% of all households — are paying more than 30% of their incomes on HOUSING. ...

The largest share of these households includes 9.5 million renters earning less than $30,000 per year and 5.4 million homeowners earning less than $30,000.

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CONTENTSACRUVA 4

Why We Develop 8

Our Team 6

What We Create 11

In Conversation 12

How We Work 10THE ACRUVA MISSION

Develop, preserve, and maintain sustainable, efficient, safe, and healthy communities that give everyone the chance to succeed.

THE ACRUVA VALUES

RESPECT

COMMUNITY SERVICE

INTEGRITY

COMPASSION

GROWTH

A C R U V A C A P I TA L P A R T N E R S4 A C R U V A C O M M U N I T Y D E V E L O P E R S

The firm’s tagline “Giving everyone the chance to succeed” points not only toward its focus on success for all partners and owners involved in project development, but more importantly to the success of all community residents as well. ACRUVA believes that successful social mobility requires several key components including high quality and equitable education, reliable social safety nets, job opportunities, safe working conditions, inclusive institutions, and of course, high quality affordable housing.

The firm operates with an eye toward all elements of social mobility, to provide families and individuals across the U.S. and Puerto Rico a path to their own version of successful social mobility by providing affordable housing solutions.

ACRUVA Capital Partners was launched by a team of seasoned real estate professionals with over 100 years of collective exerience.W

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ACRUVA, a full-service real estate development company specializing in building and preserving affordable housing communities throughout the United States and the Commonwealth of Puerto Rico, launched with a fast-paced start thanks to years of experience by the company’s founding leaders.

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A SEASONED ORGANIZATIONAL FOUNDATION

$8B+EQUIT Y INVESTED IN AFFORDABLE MULTIFAMILY HOUSING

1,000+MULTIFAMILY AFFORDABLE HOUSING PROPERTIES

400,000+FAMILIES SERVED

ACRUVA Capital Partners II, LLC., is a carefully structured Joint Venture between ACRUVA Holdings, LLC., (a minority-owned enterprise) and ADC Communities II, LLC., an Alliant Capital wholly owned subsidiary. This structure allows the team to bring each deal a complete array of public and private investment dollars necessary for affordable housing development.

ACRUVA is headquartered in Deerfield Beach, FL, with offices in Miami, FL, and San Juan, Puerto Rico. As a key player in the ACRUVA offering, ADC Communities provides financial guarantees and backing for all developments. Alliant Capital is a leading tax credit syndicator focused on providing Low Income Housing Tax Credits (LIHTC) equity for the development and financing of affordable housing. Alliant also offers appropriate mechanisms for the preservation of affordable housing communities throughout the U.S. and Puerto Rico.

Ownership

Alliant StrategicInvestments

(Private Equity Fund)

ADC Communities(Development JV’s)

The AlliantCompany, LLC

ACRUVA

ADC-SHAG Ventures

ADC-NewGate

AVS Communities

Invictus Communities

KGC Companies

Radiant Ventures

Preservation Funds

Opportunity Zone Fund

Workforce Housing Fund

Shawn Horwitz PalmDrive Associates, LLC

Alliant Capital, Ltd.(Tax Credit Syndication)

Alliant FundAsset Holdings, LLC

“(AFAH)”*

Alliant AssetManagementCompany, LLC

Alliant Tax Credit Funds

Lower-tier Partnerships

*AFAH included in ownership structure forcertain of Alliant Tax Credit Funds 11-89 and 91


100+ YEARS

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of Experience in Affordable Housing

ACRUVA Leadership Combines

ACRUVA DEVELOPS HIGH QUALITY AFFORDABLE HOUSING TO SERVE INDIVIDUALS AND FAMILIES WITHIN THE FOLLOWING DEMOGRAPHICS:

• Families• Elderly • Formerly Homeless• Persons with Disabling

Conditions• Persons with

Developmental Disabilities

• Workforce Housing / Essential Workers

• Other special needs

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DANIEL F. ACOSTAMANAGING PARTNER / PRESIDENT

Daniel Acosta provides leadership and oversees the firm’s development, preservation, consulting and advisory services. His primary responsibilities include major corporate decisions, managing the overall operations and resources of the company, and acting as the main point of communication between partners, investors, and stakeholders. Daniel Acosta has spent over 26 years in commercial real estate developing strong practical experience in the affordable and market-rate multifamily industry.

Daniel Acosta was formally a Senior Vice President and Director of Development for one of the nation’s largest for-profit affordable housing developers. In this capacity, Daniel’s duties included new business development in the Commonwealth of Puerto Rico, managing finance, design, and construction as well as collaborating with external partners and community stakeholders to leverage public, private, and philanthropic resources to develop comprehensive, large-scale, mixed-income and mixed-finance community redevelopment projects. From late 2014 through 2019, Daniel was responsible for the revitalization and redevelopment of three public housing communities in the Commonwealth of Puerto Rico producing 752 mixed-income units in San Juan and Caguas.

TIMOTHY M. BABCOCKPARTNER / CHIEF OPERATING OFFICER

Tim Babcock brings more than 35 years of experience as a real estate practitioner, with a focus in multifamily and commercial real estate across the country. He is a member of the ACRUVA Site Selection Committee, overseeing all new construction and preservation project activities. He is an award-winning site staff team builder, utilizing advanced personnel development skills resulting in exceptional work cultures at each and every community site. This role is critically important given ACRUVA’s approach to long term ownership and sustainable management of its projects.

Tim applies strong investment, financial planning, and analytical skills to keep owners and investors informed of performance and key trends affecting each residential community’s success. His significant experience in risk management, a history of remarkable recovery from extraordinary operating events, and a strong sense of urgency in fast-paced environments has allowed Tim to be a trusted and reliable partner for countless clients around the country. Tim also provides a market advantage in South Florida through a vast network of private sector partners and local government agencies.

R ANDALL W. RHOADSPARTNER / DIRECTOR OF DESIGN & CONSTRUCTION

Randy Rhoads has more than 30 years of experience in the design of residential, commercial, educational, public sector, and institutional projects. As ACRUVA’s Executive Vice President and Director of Design & Construction, Randy’s main responsibility includes overseeing the physical plan from initial master plan conception, through the engagement, and into construction.

Randy manages, coordinates, and evaluates the work of outside architects and planners, civil and structural engineers, and environmental consultants, with a careful eye toward hiring partners with a similar value system and passion for the community as our own. He has been the project leader on more than 32 tax credit, multifamily housing developments, overseeing a total construction value of over $1 billion in development costs across 14 cities around the country. He also supervised the first multifamily, mixed-income building in the United States to incorporate universal design features into every unit; one of the first affordable housing developments to be certified under the Enterprise Green Communities Criteria; and one of the first developments to achieved LEED for Homes Certification in 2009 and LEED for Neighborhood Development certification in 2010.


Real estate markets are driven by demographic and economic trends, changes in population, life cycles, social perception, and technological changes. However, the demand for Affordable Housing is driven by a disproportionate number of cost burdened households in many urban areas where housing costs far exceed the standard affordability threshold of 30% of household income. The ACRUVA team analyzes these factors, and various other critical characteristics

that are not easily reflected in a financial analysis. Because household income, populations, and economic vibrance are always changing, so too is the number of affordable residential units required within each city. As those numbers change, we help create new properties to fill this new demand.

The ACRUVA team focuses on creating the most successful residential properties to fit the communities they serve.

Working with locally based design and construction partners, community engagement leaders, and other consultants familiar with the nuances of these markets, the team builds new affordable and workforce housing projects that focus on the residents they will ultimately serve. ACRUVA leadership never takes their eye off of the ultimate social mobility goal and manages each project through a smart, and efficient development process.

New Affordable Housing Construction is One Path to Meet a Community’s Need

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In addition to adding new housing capacity through new construction, ACRUVA also identifies properties in low-income census tracts, or supply-constrained residential markets, where new construction costs exceed redevelopment costs and gap financing is available.

Through acquiring and significantly rehabilitating a property, our team enhances its livability and preserves its affordability, value, marketability, image and most importantly, improves the resident’s well-being. This means that properties can remain livable for the families that need them most, and their social dignity and mobility can be elevated in the process.

Through Rehabilitation, ACRUVA Helps Keep Existing

Affordable Housing Communities Accessible

SECTION 8COMMUNITIES

100+ UNITS

LIHTC COMMUNITIES

NEARING THE END OF THE LIHTC COMPLIANCE PERIOD

What Makes a Property a Fit for Rehabilitation?

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ACURVA’s Development Process Stands Out for Ease of Understanding

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The approach to successfully completing our developments is based on a multi-faceted process that requires a knowledgeable and experienced team dedicated to ensuring every detail, schedule, and budget is followed with the outmost attention. The approach begins with 1.) Development Concept; 2.) Site Due Diligence and Project Design; 3.) Financing and Regulatory / Development Approvals; 4.) Site Preparation, Demolition, Remediation, and Construction; and 5.), Re-occupancy/Lease-Up and Operations.

ACRUVA will identify adequate development funds, prepare and submit all necessary funding applications through Federal, State, local and private resources including but not limited to tax exempt bonds, low income housing tax credits, HUD PHA Capital Funds, HOME, CDBG-DR and any other available public or private funding collaborations. Furthermore, ACRUVA can also directly fund specific pre-development costs and works closely with local government agency staff for consent and approvals as well as community stakeholders to seek input and consensus on the development as it evolves.

LEGENDS PARKWith the help of a HOPE VI grant, the former Dixie Homes public housing development in Memphis was reenvisioned as a mixed-use, economically-integrated, multi-family, and intergenerational neighborhood. ACRUVA Partner Randy Rhoads played a major leadership role in this undertaking while working with McCormack Baron Salazar.

RENNAISANCE SQUAREFormer Las Gladiolas, in San Juan, Puerto Rico was completely revitalized using 9% LIHTC, Capital Funds and Program Income. Danial Acosta supervised this 140-unit develop;ment as Senior Vice President and Director of Development while working at McCormack Baron Salazar.

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CORNERSTONE VILLAGECornerstone Village, in the city of Pittsburgh, is changing the trajectory of an entire neighborhood. Once an isolated, disinvested, impoverished community, the redeveloped Village is now becoming a sustainable and desirable community of choice for diverse families from all income levels. ACRUVA Partner Randy Rhoads played a major leadership role in this undertaking while working with McCormack Baron Salazar.

When New Construction is the Solution, ACRUVA Leads the Team

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Site Due Diligence and Project Design will focus on knowing all the factors involved in developing the approved concept. Site Due Diligence will include environmental studies, market studies, property appraisals, geotechnical borings, utility location and availability, etc. Understanding these factors based on reports prepared by third-party professionals will allow ACRUVA to maximize opportunities and mitigate limitations of the physical site and the rental market conditions.

As we finalize these steps and are well informed on all factors; relocation, site conditions and a final design concept for the new development, we initiate funding applications for various funding sources and begin the approval process of the development plan along with the input of local stakeholders.

BAYSHORE VILLAS | SAN JUAN, PUERTO RICO


Let’s start with you, as the Founder Daniel, for just a moment. How did you find your way into this field of affordable housing?

DANIEL ACOSTA: My family relocated to the United States from Colombia, South America, when I was 11 years old and at that time, I did not speak English. We settled in

Southern California where we, as kids, lived in (what felt like) two worlds. We lived in South Orange County, and while we were not in a predominately Latin community, our Latin roots were clearly present in our home. As one of seven children, our parents emphasized the importance of hard work and self-sufficiency. Because of some of the decisions my parents made—including purposefully living in communities that were healthy and in neighborhoods where we had a safe environment—I realized as an adult how important adequate housing and a safe community impacted my future.

As my career in commercial real estate progressed, and I eventually focused on affordable housing nearly 18 years ago, I recognized early on that not everyone has the opportunity to live in safe and healthy communities. As such, it became clear to me that I wanted to spend the pinnacle of my career developing healthy and safe housing options for people across the U.S. and Puerto Rico.

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IN CONVERSATIONThe ACRUVA Leadership Team:

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When you look back on your career as an affordable housing developer, what is the most important measure that will define your own success?

DANIEL ACOSTA: The most important measure for me is the long-term impact our developments have on the people and communities we serve. Economic inequality

in America is a continuously growing concern and socio-economic mobility is hindered by, among many factors, inadequate affordable housing.

As affordable housing developers, our goal is not to seek awards and recognition for the high quality, well-designed communities we build. Those who seek such accolades are missing the point. The amazing and career defining rewards come in the form of the success stories of the people, from all walks of life, that live in our communities.

RANDY RHOADS: For me, it’s the physical transformation of disconnected, unsafe, underinvested neighborhoods into connected, vibrant, pedestrian

friendly, sustainable, and beautiful mixed-income neighborhoods. If I see beautiful, diverse neighborhoods adjacent to jobs, food, and education; where physical and mental health indicators are on the rise; and residents have the opportunity to move up the socioeconomic and education ladder, then I will know my work has been successful.

What does a world look like where we have actually corrected the affordable housing crisis that we see so clearly in front of us today?

TIM BABCOCK: Providing one of the basic building blocks of a successful life, we will have leveled the playing field of life and significantly improved upward mobility.

No one going to bed hungry will then be the next step.

A home for everyone is a well-known basic need on Maslow’s hierarchy, and this reality absolutely must be achieved for all. Everyone deserves a safe place to heal, sleep, and dream.

Working in many different cities and states, how do you collaborate and connect with the individual communities where each project is located?

RANDY RHOADS: Our planning and design work is launched via multiple public engagement charrettes. These charrettes include residents and neighbors,

government leaders, educators, and community activists. We welcome as many people into these processes as we can to ensure local values, lifestyles, and logistical realities are all interwoven into each unique property.

We then come back often in the planning and design stages, because we like to show our ideas and make sure we are on the same page with the community. There are no surprises this way, and we are able to refine the plans toward a result that will be exciting and anticipated by all.


What do you mean when you say you “rehab” properties? Is this simply referencing physical improvements to older communities?

TIM BABCOCK: Our acquisition and rehabilitation work is mostly about preserving access to existing affordable housing. At the end of an affordable housing

development’s tax-credit compliance period, typically 15 years after initial construction, a property has the potential of being converted to market-rate housing. This often means low-income residents are no-longer qualified to live at the community and within 2-3 years have to relocate out of the property as a market-rate renter moves in. This can really hurt a city with an existing affordable housing gap by suddenly making the problem even worse.

By acquiring LIHTC and Section 8 communities, and re-syndicating them with affordable housing tax credits, we are able to keep these existing properties in the hands of the residents that need them the most. The existing owner is often looking to get a fair market value at that moment of acquisition, and we are able to make that happen.

This transition includes major physical improvements and modernizations as well.

You’ve each had wonderful professional journeys prior to ACRUVA that have not yet included running your own business. Why was it time to make that change and why were these the right partners to do it with?

TIM BABCOCK: We launched ACRUVA because we were ready to build a company with heart; a company that keeps people and community relationships at the center.

We simply hadn’t been able to find that anywhere else. I knew both Daniel and Randy from prior stops along my journey and when we all spent some good time together, it was clear we were all on exactly the same page.

The ACRUVA way is to lead with integrity and compassion and that will always come through with us. We of course may make personal mistakes along the way, but we have carefully crafted a culture of accountability and values-based decision making which has already proven to work when any one person gets off track. With professional investment and understanding of emotional intelligence, we consistently circle back to each person and ask, “what is their why.” This allows for seamless conflict resolution, and consistent forward momentum without hiccups.

If you wave a magic wand today and fix just one of the challenges our country faces today, what would that be?

DANIEL ACOSTA: Homelessness. It’s simply unacceptable for a country as capable as ours to have anyone forced to experience homelessness. Among the multiple

demographics we serve, ACRUVA targets homelessness with the same passion and effort as other demographics despite the complexity and care of services required to ensure residents will successfully transition into permanent housing.

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“ ”We were ready to build a company with heart

that KEEPS PEOPLE AND COMMUNITY RELATIONSHIPS AT THE CENTER.


Developing communities across all 50 United States and the Commonwealth of Puerto Rico.

Alliant / ACRUVA Offices

JV Developments

Future Developments

www.acruvacp.com Main (305) 501-45211221 Brickell Ave., Suite 900 | Miami, FL 33131

giving everyone the chance to succeed

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