Developer perspectives
Hageman Capital was an integral partner of Buckingham for our Carmel Midtown AT&T project. They actively engaged in the process and identified potential pitfalls. Their contribution extended to generating creative solutions within the team and legal framework. Beyond their professional involvement, Xiao's relationship-focused approach fostered a collaborative atmosphere. As we look to the future, Hageman Capital has earned a top position on our list, being among the first to explore and assess our upcoming projects.
Christopher W. Myrvold, CFO & Head of Real Estate, Buckingham — 2023 · Multifamily
Working with Hageman Capital to finance TIF bonds was a great experience, they made the process simple and transparent. We appreciate their partnership and willingness to solve complicated issues fairly and quickly.
Fede Boscaini, Director of Development & Finance, Gershman Partners — 2023 · Multifamily
Hageman Capital has found a niche in the real estate capital market by providing developers liquidity in the TIF bond market. The Hageman team is a fantastic partner because they not only understand real estate development but also have expertise in solving unique challenges. It is comforting to know the Hageman Capital team is there to provide capital, but just as important, assist in strategic decision making that helps make our communities a better place to live.
Justin Moffett, Founder, Old Town Companies — 2020 · Multifamily
The Hageman team's expertise in commercial real estate, TIF, and public-private partnerships has been an extremely valuable resource for our team. Having Hageman Capital as a financing partner also provides us a great deal of credibility with our investors, construction lenders, and municipal partners. They are a great group of people who care about how their involvement in a project can help achieve extraordinary outcomes for Rebar, our stakeholders, and the communities we serve.
Shelby Bowen, President & Partner, Rebar Development — 2020 · Multifamily
Expertise
TIF expertise creates additional bond proceeds
Maximizing the value of a TIF bond requires municipal regulatory knowledge, deep real estate understanding, and the ability to bridge these concepts into a bond structure. Very few development companies carry that capability in-house — Hageman Capital brings expertise with every bond purchase.
- Outright purchase of TIF and incentive bonds at competitive valuations
- Flexible structuring across the capital stack, from senior to gap funding
- Decisive diligence — most valuations returned within days, funded in weeks
- Discretion and continuity from first call through closing
Monetization Options
How developers monetize TIF produces vastly different proceeds
Loans secured against a TIF bond will limit the capital a developer can draw from the incentive. Lenders sizing to loan-to-cost ratios and debt service coverage will require additional equity, which compresses real estate returns. An outright sale converts the incentive to upfront capital without adding additional debt that burdens the project.
- Outright purchase of TIF and incentive bonds at competitive valuations
- Flexible structuring across the capital stack, from senior to gap funding
- Decisive diligence — most valuations returned within days, funded in weeks
- Discretion and continuity from first call through closing
Bond Value
An indicative valuation, at no cost.
Hageman Capital’s calculator returns an indicative value range at no cost, based on the incentive’s terms and current rates.
Projects