Office of Recapitalization

The Office of Recapitalization (“Recap”) supports the preservation and recapitalization of federally-assisted housing and rental assistance for current and future generations. Recap structures, reviews, and implements transactions to ensure long-term physical and financial viability, often through public-private partnerships and the use of tax-incentivized financing. Recap also implements other affordable housing initiatives which leverage this transactional expertise. Programs or initiatives currently or recently implemented by Recap include the Rental Assistance Demonstration (RAD), Mark-to-Market (M2M), Post Mark-to-Market (PM2M), Post Mark-to-Market Budget Based Rent Adjustments (BBRA), Section 236 Preservation, and Pre-1974 Section 202 Direct Loan Preservation (including SPRAC).