BOSTON, MA - Recap Advisors, LLC, a Boston, MA based financial services firm specializing in multifamily housing, announced today that it has acquired On-Site Insight, Inc. (OSI), a leading provider of capital needs assessments for apartment properties and other commercial real estate. OSI's capital assessment and planning services are used by clients to make fully-informed decisions about the physical needs of their properties and for establishing effective repair and replacement programs.
In the past five years, OSI has performed more than 2,200 capital needs assessments for private clients and another 500 for various local, state, and federal agencies nationwide. Over its history, it has completed 5,500 such assessments, on nearly 500,000 apartments totaling $47 billion in replacement value. OSI distinguishes itself in the industry through the sophistication of its forward-looking capital needs analysis and the thoroughness of its inspections.
"OSI adds another dimension to the services we can provide to our clients," said Todd Trehubenko, President of Recap Advisors. "Capital needs assessment and planning are important components of almost every assignment we undertake. Our clients can now get these services directly from Recap, and we can integrate the assessment conclusions directly into our asset management reporting, asset resolution strategies, and transaction plans."
Recap Advisors is well known in the housing industry as the company of choice for solving complex multifamily housing property problems. The firm's portfolio of real estate assets under management tops $2 billion. Current activities include the sale of Spring Creek Towers/Starrett City in New York City, the nation's largest federally-assisted rental housing development.
"We've known and respected Recap for many years," said Jed Lowry, OSI's Director of Operations. "We have always worked very effectively together. Becoming part of their group is a very natural step for us. Their expertise and the Recap services platform also help us grow OSI's product lines and client base. We're excited to be part of their continuing growth."
Recap will retain the OSI brand name and OSI principals will continue in key roles with Recap. Jed Lowry will become OSI's Director of Operations and David Whiston will be OSI's Director of Sales. John Nicoli will manage OSI's West Coast office.
Source: Business Wire