Cabouchon Properties, LLC, headquartered in Sausalito, California, was formed in 1997 to purchase, substantially rehabilitate, and manage market rate and Section 42 tax credit apartment complexes.

Since its founding Cabouchon has acquired, financed, and rehabilitated seventeen apartment complexes totaling 2,117 units, with a valuation in excess of $220 million. The property locations in California include San Francisco, Sacramento, Vallejo, Grass Valley, South Lake Tahoe, and Fremont. There are two properties in Richmond, Virginia, two in Anchorage, Alaska, and two in Columbus, Ohio.

Many of the apartment acquisitions were HUD Section 236 or project-based Section 8 developments. Cabouchon was one of the first developers in the country to purchase and successfully transition a Section 236 project with a project-based Section 8 contract to a Section 42 tax credit project utilizing tax-exempt bonds. In addition, Cabouchon was one of the first apartment developers to preserve an affordable project by combining HUD Interest Reduction Payments (IRP) with tax-exempt bonds and federal tax credits.

Upon the acquisition of each property, Cabouchon performs extensive and thorough interior and exterior rehabilitation designed to modernize the property, improve living conditions for the residents and increase the longevity of the various building components. To date, Cabouchon has managed over $30 million of construction improvements to its properties.

In addition, Cabouchon sponsors programs specifically designed for the needs of the residents at many of its properties. Some of the programs include job training classes, after-school tutoring, ESL classes, citizenship programs, and nutrition classes. The programs vary at each property and evolve to meet the changing needs of residents and their families.

Cabouchon manages the financing, rehabilitation, and operations of each property with long-term objectives. Cabouchon acquired its first property in 1997 and continues to hold each property ever acquired. This long-term perspective allows the interests of the tenants and buildings to always drive operating decisions.

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Portfolio

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