The Real Estate Capital Cycle

Insights and guidance at every step

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Insights and guidance at every step

Launched in summer 2025, this series explores six key stages of the investment lifecycle, offering practical takeaways and actionable guidance throughout. Together, these articles form a comprehensive checklist designed to help stakeholders navigate the process.

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RHT Strategic

Priorities

Make Rural America Healthy Again

Advance rural health through prevention, innovation, and evidence-based care.

Sustainable Access

Strengthen access to coordinated, efficient, and sustainable rural care.

Workforce Development

Build and retain a skilled rural healthcare workforce.

Innovative Care

Advance flexible care and payment models that improve quality and outcomes.

Tech Innovation

Expand secure technology and digital health capabilities in rural communities.

Program

Deadlines

The Rural Health Transformation Program provides $50 billion in federal funding to approved states from FY2026 through FY2030, allocated at $10 billion per year.

First-Year Awards (FY2026)

August 31, 2026

Deadline for states to submit first of five annual reports.

October 30, 2026

Deadline for states to obligate funding.

November 29, 2026

Deadline for states to submit first of thirteen quarterly reports.

September 30, 2027

Deadline for states to spend first-year awards. CMS will redistribute unused funds in fiscal year 2028.

Second-Year Awards (FY2027)

October 31, 2026

CMS will announce fiscal year awards by this date.

September 30, 2028

Deadline for states to spend awards. CMS will redistribute unused funds in the following fiscal year.

Other Deadlines TBD

State-Level Facts

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Year 1 awards ranged from $147M in NJ to $281M in TX.

Year 2 awards TBD

Free Webinar

Navigating What’s Next: Strategies for the Evolving M&D Landscape

When
December 8, 2026 9:30 AM
Where
Zoom Webinar

The manufacturing and distribution landscape is evolving rapidly, bringing new opportunities and challenges for middle-market companies.

register online

How Elliott Davis Can Help

At every stage of an Rural Health Transformation award, Elliott Davis helps you align initiatives with your state's priorities and build the structure to deliver on them.

Our advisors design governance frameworks, strengthen internal controls, and set up reporting and compliance processes that meet federal requirements, including Single Audit and time-and-effort documentation.

The result is better protection for your funding, clear evidence of results, and stronger readiness for future funding rounds.

THE TEAM

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The Real Estate Capital Cycle

insights

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Are your waterfall terms built to attract the right investors?Are your waterfall terms built to attract the right investors?

Are your waterfall terms built to attract the right investors?

Design real estate waterfall terms that attract the right investors. Learn how profit splits, preferences, and fees shape alignment and capital raising success.

Article
June 29, 2026
Capital Raise Pre-Launch
Are your reporting and accounting systems ready?Are your reporting and accounting systems ready?

Are your reporting and accounting systems ready?

January 29, 2026
Organizational Readiness
Are you compensating key employees to drive loyalty and results?Are you compensating key employees to drive loyalty and results?

Are you compensating key employees to drive loyalty and results?

Discover effective compensation strategies for key employees during the disposition phase of the capital cycle. Learn how transaction bonuses, carried interest, and profit-sharing plans can align incentives, manage tax implications, and drive retention for real estate firms.

Article
January 7, 2026
Disposition
Have you accounted for state tax obligations in your growth strategy?Have you accounted for state tax obligations in your growth strategy?

Have you accounted for state tax obligations in your growth strategy?

Expanding across states? Hidden SALT risks can derail growth. Learn how real estate firms can stay compliant and avoid costly penalties.

December 10, 2025
Capital Deployment
Are you ready to protect your investment with rigorous compliance?Are you ready to protect your investment with rigorous compliance?

Are you ready to protect your investment with rigorous compliance?

Discover how real estate firms, REITs, and QOFs stay compliant through specialized requirements and periodic testing. Learn operational best practices when managing fixed assets, planning for estimated tax payments, and preparing for audit.

November 19, 2025
Operational Support
Is private capital right for your real estate strategy?Is private capital right for your real estate strategy?

Is private capital right for your real estate strategy?

Discover whether private capital is the right fit for your real estate strategy. Learn how middle-market firms can leverage high-net-worth investors and family offices to gain agility, control, and faster access to funding.

October 29, 2025
Capital Raise Go To Market
Is your year-end close timeline investor-ready?Is your year-end close timeline investor-ready?

Is your year-end close timeline investor-ready?

Discover how real estate CFOs can prepare for a successful year-end close with strategies for tax planning, audit readiness, and investor reporting. Learn best practices and timelines tailored to the complexities of multi-entity real estate operations.

October 8, 2025
Operational Support
Is your firm vulnerable to cyber threats?Is your firm vulnerable to cyber threats?

Is your firm vulnerable to cyber threats?

As real estate firms navigate capital raises, cybersecurity is emerging as a critical factor for investor trust. Learn why protecting financial and investor data is a growth imperative and how to build a strong cyber foundation to safeguard your firm.

September 17, 2025
Organizational Readiness
Have you modeled after-tax cash flows?Have you modeled after-tax cash flows?

Have you modeled after-tax cash flows?

Learn why modeling after-tax cash flows is essential during the disposition phase of real estate investments. Discover key tax considerations, gain allocation strategies, and how to avoid surprises that impact investor returns and reinvestment planning.

August 27, 2025
Disposition
Are you considering institutional capital?Are you considering institutional capital?

Are you considering institutional capital?

Discover how institutional capital affects the size and deal structure of real estate transactions. Explore the pros and cons and how to get your firm ready for a capital raise.

August 6, 2025
Capital Raise Go To Market
How will you approach purchase price allocation?How will you approach purchase price allocation?

How will you approach purchase price allocation?

Discover how purchase price allocation affects tax treatment, financial reporting, and deal structure in real estate transactions.

Article
July 16, 2025
Capital Deployment
Are you using the right investment strategy?Are you using the right investment strategy?

Are you using the right investment strategy?

Compare real estate funds vs. syndications, explore tax-efficient investment vehicles, and learn how to structure single-member LLCs, REITs, and 1031 exchanges to align with investor goals.

Article
June 25, 2025
Capital Raise Pre-Launch
Are your people and controls ready?Are your people and controls ready?

Are your people and controls ready?

Raising capital is only the first step. Learn what it takes for real estate firms to be truly capital-ready, from controls and reporting to operational structure.

Article
June 11, 2025
Organizational Readiness

Frequently Asked Questions

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