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Capital RIC acquires investment properties using conventional or investor financing. We maximize the return on our investments, in the case of raw land, by transforming the permitted uses on the property through rezoning and/or site plan approval. In the case of office buildings in the governmental leasing niche, we structure and implement exit strategies using tax exempt or in some cases, taxable bonds. These bond transactions can be highly complex. Several years ago, Capital RIC developed a protocol for issuance of "AAA" tax exempt bonds using an operating lease, which normally cannot be done because of the building owner's continuing obligations to the building tenant under an operating lease. This resulted in a successful $18.2 million tax exempt bond financing through an industrial development authority. We have participated in a number of successful housing bond financings for multifamily housing. Virginia among other states has a statutory framework which allows for creative financing of all kinds of government infrastructure. The challenge is to understand the possibilities and to work through the necessary political approvals which often create barriers for completion of these types of bond transactions. Capital RIC is experienced in developing strategies to get a deal to closing whether through the office of a governor, a state legislature, a city council, board of supervisors, other governing body, housing authority or industrial development authority. Capital RIC combines its knowledge and expertise in real estate and politics to get the deal done.
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