Kyle Shoemaker, Author at Affordable Housing Investment Brokerage

Eastpoint-LIHTC-Property-Northwood-Ohio-1

200-Unit LIHTC Sale in Ohio: Eastpoint Apartments

Affordable Housing Investment Brokerages, Inc. (AHIB) is pleased to announce the closingof Eastpoint Apartments, a LIHTC offering in Northwood, Ohio outside the city of Toledo.Eastpoint Apartments is a 200-unit community with 60% LIHTC units designed as elegant family townhomes. AHIB represented the seller in the 200-Unit LIHTC sale, with multiple offers procured above target price. The deal ultimately closed in January 2025, above the asking price at a number that resulted in sub-5% capitalization rate on trailing net operating [...]

January 14, 2025 By Kyle Shoemaker LIHTC, News LIHTC, Ohio 0 Comments

Watch-Hill-Tower-HAP-Property-Rock-Island-IL

Illinois Senior HAP (M2M) Sale: Watch Hill Tower

Watch Hill Tower is a 140 unit, elderly designated, elevator building operating with a full HAP contract. The property is also encumbered by a M2M Use Agreement. AHIB marketed the property along with a portfolio of family properties in early 2024. After the campaign, it became apparent that separating the deals into two transactions. The Senior HAP M2M sale of Watch Hill closed on January 7th, after being escrow for only three months. Both seller and buyer were repeat clients [...]

January 9, 2025 By Kyle Shoemaker Uncategorized HAP, M2M 0 Comments

Wisconsin 166-Unit Portfolio Sale: Heartland Housing

MADISON, WI/ MILWAUKEE, WI (June 3, 2024) – Affordable Housing Investment Brokerage Inc. (AHIB) was retained by a court-appointed receiver to identify and secure new owners for portions of Heartland Housing’s Wisconsin portfolio, which included 166 affordable housing units across five properties in Madison and Milwaukee, Wisconsin. AHIB’s Managing Director Kyle Shoemaker also represented all of the buyers in the transaction. “When Heartland Housing could not continue operations, it was paramount to the Wisconsin Housing and Economic Development Authority (WHEDA), [...]

June 5, 2024 By Kyle Shoemaker Receivership Sale, Receivership Sale Affordable, Wisconsin Comments Off

Maple Park Apartments: Senior HAP Sale in Iowa

Affordable Housing Investment Brokerages, Inc. (AHIB) is pleased to announce the closing of the Maple Park Apartments, a HAP offering in Algona, Iowa. Maple Park is an Independent Senior community with full HAP coverage. Algona is a city of over five thousand residents in northern Iowa, between Des Moines and Minneapolis. The city is the county seat and home to a regional medical center. The property is a quiet community with a landscaped garden courtyard, laundry facilities on each floor, [...]

August 17, 2023 By Kyle Shoemaker Sell HAP Contract Property Algona, HAP, Iowa Comments Off

Our Lady of the Lake-Senior PRAC and 202 HAP-Baton Rouge-LA-262units

262-Unit Senior PRAC and 202 HAP Sale: $17.82 Portfolio in Baton Rouge

Affordable Housing Investment Brokerages, Inc. (AHIB) is pleased to announce the closing of the Lady of the Lake senior HUD housing portfolio, comprised of four properties, Chateau Louise, Villa St. Francis, Assisi Village, and Calais House in Baton Rouge, Louisiana. The campus is comprised of five adjacent buildings, three properties operating under PRAC contracts, one operating with a HAP contract under the HUD 202 program, and the fifth that serves as an office and community center. AHIB procured multiple offers [...]

April 21, 2023 By Kyle Shoemaker Sell HAP Contract Property, Sell PRAC Property 202 HAP, HAP, Louisianna, PRAC, RAD, Senior Comments Off

Burlington-LIHTC-Vermont Portfolio-Burlington-Saint Albans-Vermont

Burlington Senior Housing: LIHTC Portfolio Sale in Vermont

Affordable Housing Investment Brokerages, Inc. (AHIB) represented the seller of the 191-unit portfolio made up of three properties, Hawk’s Nest, Falcon Manor and Eagle Crest near Burlington, Vermont. Each of the properties serves independent senior tenants and were developed under the Section 42 Low Income Housing Tax Credit program (LIHTC). The offering provided a unique opportunity to enter the Burlington market with economies of scale across three well-maintained properties with sustained excellent operations. AHIB was able to procure multiple offers [...]

February 17, 2023 By Kyle Shoemaker LIHTC, Sell LIHTC Property, Sell Section 42 Property Burlington, Senior, Vermont Comments Off

Valkommen Plaza: Independent Senior Apartments Sale in Illinois

Affordable Housing Investment Brokerage, Inc. (AHIB) represented the seller of the 171-unit Valkommen Plaza, an independent senior apartment building operating with a HAP contract. Valkommen Plaza is a nine-story, elevator building with commercial spaces on the first floor, providing excellent amenities including a beauty salon, police sub-station and grocery for the local community of downtown Rockford, Illinois. Rockford, Ill., boasts a population of 150,000 just 70 miles northwest of Chicago on Interstate 90. Officials just announced a $200M planned [...]

February 6, 2023 By Kyle Shoemaker Sell HAP Contract Property HAP, Illinois, LIHTC, Rockford, Sale, Senior, Valkommen Plaza Comments Off

Creekside Village-Senior LIHTC-Monroe-Michigan

Creekside Village: Independent Senior Property Sale in Michigan

In December 2022, AHIB closed on 77 LIHTC Independent Senior Units in Monroe, Michigan. The fenced in garden community known as Creekside Village was developed with the Low Income Housing Tax Credit (LIHTC) and placed in service in 2004. Creekside Village units provide personal front yards and backyards in a calm neighborhood near medical centers and pharmacies ideally suited for independent senior living. All common areas, units and hallways are senior-friendly, with ample space to accommodate mechanical aids (wheelchairs, walkers, [...]

January 13, 2023 By Kyle Shoemaker LIHTC, Sell LIHTC Property, Sell Section 42 Property Creekside, LIHTC, Michigan, Monroe, Sale, Section 42, Senior Comments Off

LIHTC SAIL Sale in Palatka, Florida

Affordable Housing Investment Brokerage, Inc recently represented the seller of the Kay Larkin and Grand Pines Apartments in Palatka, Florida. Kay Larkin and Grand Pines were both developed using both Low Income Housing Tax Credit (LIHTC) and State Apartment Incentive Loans (SAIL) from the Florida Housing Financing Corporation (FHFC) and are subject to regulatory agreements for 50 years from their placed-in-service date. Kay Larkin is a 60-unit garden style LIHTC property that was placed in service in 2000. Grand [...]

April 26, 2022 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Tax Credit Property Comments Off

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 Kyle Shoemaker Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Subsidized Property Comments Off