BOSTON, MA – The City of San José Housing Department (“CSJ”) has engaged TCAM to help manage CSJ’s subordinate loan portfolio. The subordinate loan portfolio is a critical tool in fulfilling the CSJ’s mission of strengthening and revitalizing the San José community through housing and neighborhood investment. TCAM is working with CSJ to evaluate the performance of the subordinate loan portfolio, refine asset and portfolio models for projecting future residual receipts, and strengthen asset management practices, policies and procedures.
The engagement with the City of San José adds to TCAM’s growing business with state and local housing agencies and subordinate lenders in California and other parts of the country. TCAM is currently providing asset management and advisory services for several state and local housing agencies and housing authorities as well as banks, insurance companies, corporations and foundations. “Subordinate loans are an important resource for affordable housing,” said TCAM CEO Jenny Netzer. “TCAM is excited to be working with San José and others to maximize the impact of this resource in producing and preserving affordable housing.”
TCAM provides services to clients for 869 properties comprising 112,150 apartment units in 43 states, Washington, D.C., and Puerto Rico, representing in excess of $3 billion of client capital. TCAM is owned by QuietStream Financial (http://quietstreamfinancial.com). QuietStream Financial’s companies provide alternative asset management services and structured finance products for real estate borrowers, financial institutions and investors.
San José, Capital of Silicon Valley, is the largest city in Northern California and the 10th largest city in the nation. The San José Housing Department (www.sjhousing.org) strengthens and revitalizes our community through housing and neighborhood investment. Follow us on Twitter: @sjcityhousing