A clearer path from development risk to stabilized multifamily income.
DES packages multifamily projects — rent-restricted or market-rate — with disciplined underwriting, tenant demand strategy, rent protection where available, resident risk controls, reserves, and monthly reporting.
A consistent process, deal after deal.
DES is structured for capital partners who want a repeatable way to evaluate and support multifamily — rent-restricted or market-rate — with the same diligence, controls, and reporting on every project.
We work with private lenders, family offices, capital partners, brokers, nonprofit partners, and mission-aligned housing groups.
Discuss a partnership
The DES capital package.
Covenant-aware underwriting
Underwriting that reflects AMI, rent restrictions, and covenant terms where they apply — tested against NOI, cap rates, and independent appraisals.
Fundable term sheets & pro formas
Term sheets and pro formas built so every capital source can underwrite the same transaction — DSCR, reserves, and takeout tested together.
Recapitalization & replacement equity
JV recapitalization structures with existing equity replaced by new third-party equity — without seller carryback.
Tenant demand strategy
Pre-screened, AMI-qualified pipeline with reusable application packages.
Rent protection where available
Confidential third-party rent-default protection and resident coverage continuity layered into operations.
Resident risk controls
Bright Lights security approach, inspections, documentation, and legal-readiness workflow.
Reserves & monthly reporting
Funded reserves and lender-grade monthly reporting through stabilization.
Clear exit path
Refinance, sale, bond-financed exit review, or disciplined long-term hold.