MASSACHUSETTS ORDERS FIRST-EVER STATEWIDE INVENTORY OF CHILDCARE FACILITY PHYSICAL CONDITION
December 17, 2014
BOSTON – (December 17, 2009) – Recap Real Estate Advisors, the financial services and asset management group of CAS Partners, announced today that its capital planning subsidiary On-Site Insight (OSI) has been retained by the Children’s Investment Fund (CIF), a statewide non-profit organization, to implement Massachusetts' first-ever comprehensive inventory of facilities used for Early Care and Education and Out-of-School-Time programs for Bay State children.
Today more than 2,600 child care centers and more than 900 out-of-school-time programs serve more than 255,000 children and generate 30,000 jobs. Obviously the quality of these facilities affects the health and safety of both children and staff – yet the facilities' physical condition is largely unknown. Via the CIF study, Recap Real Estate Advisors will learn about the facility conditions for the first time – and CIF and others will use the findings as a baseline for effective capital planning and facility improvement.
“We’re pleased to be working with CIF on this project,” said Jed Lowry, Recap Real Estate Advisors director of capital planning. “Its mission and our skills complement each other nicely. CIF retained us because of our experience, devotion to detail, and commitment to healthy environments."
“We will visit a representative sample of facilities, provide a facility inventory of each one visited, and extrapolate the results into a statewide projection. We’ll provide CIF with a clear picture," added Lowry. "Using this data, CIF and others will then design a comprehensive financial strategy to improve the facilities in the coming years.”
The Recap Real Estate Advisors field inspectors average more than 10 years of experience in the inspection and assessment of multifamily housing. A Recap Real Estate Advisors capital needs assessment encompasses more than 175 distinct building systems, and is regarded as the industry standard in thoroughness and accuracy. The company’s experience includes more than 6,500 such assessments over the past two decades.
The facilities inventory will be complete by August 2010.
About Recap Real Estate Advisors
Recap Real Estate Advisors is a Boston-based financial services company that provides solutions to complex multifamily asset problems. It is the financial services and asset management group of CAS Partners. Over the company’s history, Recap Real Estate Advisors has completed transactions on more than 780 properties nationwide, with aggregate property value of more than $2.7 billion. It currently manages nearly $5 billion in multifamily assets. Through its wholly owned subsidiary On-Site Insight, it has performed more than 6,000 capital needs assessments. Visit www.recapadvisors.com.
Contact
Alex Jablokow
T: 617.338.9484 x5907