HomeCorp was founded in 1987 by Herbert Scheuer and Michael Goldner, two former executives of Aronov Realty, one of the Southeast's oldest, largest and most-respected real estate companies. Mr. Scheuer was Senior Vice President of Aronov's Multifamily Housing Division, and Mr. Goldner head of Multifamily Management. Under the leadership of Scheuer and Goldner HomeCorp quickly grew to become one of the Southeast's premier developers of luxury apartments and condominiums. In 1996, HomeCorp sold its management company of over 15,000 units along with its portfolio of apartments to AIMCO, the second-largest REIT in the United States. After serving as Senior Management for a year, Scheuer and Goldner decided to return to the operation of HomeCorp as a separate company.
In the fall of 2005, Stephen Coleman joined the firm to form the HomeCorp Affordable Division, adding his impressive resume to those of Scheuer and Goldner. In January 2006, Jim Curtis came aboard, representing years of expertise in financing and acquisition, and HUD financing specialist Tony Tate was added in July, 2007. In all, HomeCorp principals have a combined, nationwide multifamily experience of some 75 years. Our services range from the sourcing and acquisition of individual properties and investment portfolios, to their disposition. HomeCorp is especially strong in marketing and merchandising, which plays a major role during ownership periods, and which includes the positioning of properties against their competition -- our professional staff demonstrating over and over the ability to successfully plan and implement appropriate marketing strategies for individual properties built on each property's unique features and market position. Our consulting and fee management sectors have provided services to domestic and international investors, institutions, banks and public corporations. With GE Capital alone, we have joint-ventured over $200,000,000 in apartment turnarounds -- over 5,000 units. All told, to date we have managed some 20,000 units. In addition to turnarounds, HomeCorp developes new apartment communities, a process which includes site location, rezoning, market analysis, design and value engineering.
Financing is an integral part of HomeCorp's development process. We have staff which is highly experienced in analyzing a property's financial needs, and who have the necessary connections with the lending community to acquire the proper loan types and the leverage and terms required to meet an owner's investment goals.
Our HomeCorp Affordable division specializes in the acquisition and rehabilitation of older properties and the development of new ones while utilizing Low Income Housing Tax Credits. In addition, this division consults with public housing authorities across the United States.