HUD 202 Sale in Pennsylvania

In early March of 2022, AHIB, Inc. completed the sale of the Kime Apartments, a 50 unit, HUD 202, HAP contract property in Great Bend, Pennsylvania.  While the property’s original HUD 202 was refinanced several years ago, the HUD 202 Use Agreement was still in place, restricting future ownership based on substantial non-profit participation.  The HUD 202 apartments are located on the northern boarder of Pennsylvania, between Scranton, PA and Binghampton, New York.  Marketing produced multiple offers from regional and [...]

March 15, 2022 By Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Subsidized Property Comments Off
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Tennessee LIHTC Sale

Affordable Housing Investment Brokerage, Inc. represented the seller of the 72-unit Overlook at Elk Hill Apartments in Knoxville, Tennessee. The Low Income Housing Tax Credit (LIHTC) property was placed in service in 2008 and is still operating inside of its initial compliance period with restrictions continuing through 2038. The tax credit property is in a Qualified Census Tract but not inside an opportunity zone. The Overlook at Elk Hill offers one- and two-bedroom units with private entrances. The tax credit [...]

March 9, 2022 By Uncategorized Comments Off
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