HUD Financed Property Sales

Affordable Housing Brokerage is your one stop for selling your HUD Financed property. Browse our HUD Financed property sales below to read about our successes in the marketplace.  If you are ready to sell HUD Financed housing, please contact us today and we will be happy to provide you with a no risk, no obligation consultation for your HUD Financed property.

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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249 Unit HAP Sale in Gary, Indiana

AHIB, Inc. is pleased to announce the closing of Gary NSA I/II, also known as the 5th Avenue Apartments, in Gary, Indiana. The property consisted of fourteen separate buildings, primarily along the 5th Avenue corridor in downtown Gary. All units are covered by a Mark to Market HAP contract. Mark to Market, FHA-insured debt was in place, but was fully paid at closing. The property owner engaged Kyle Shoemaker and AHIB to conduct a marketing effort after [...]

June 1, 2020 By Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Tax Credit Property Comments Off
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Kensington-Village-Affordable Housing-Winston-Salem-North-Carolina

142-Unit Affordable Housing property sold in Winston-Salem, North Carolina

We are pleased to announce the sale of Kensington Village Apartments, a 142-unit multifamily apartment property in Winston-Salem, North Carolina.  The well-maintained, stabilized property was originally built in the 1970’s and completely renovated in 2009. The prior renovation was financed by various sources including a HUD Grant. The HUD Grant was accompanied by multiple affordable housing deed restrictions including limits on tenant income and rent maximums. The brokers deployed a targeted marketing effort to identify and engage [...]

May 31, 2019 By News, Sell HUD Financed Property, Sell Subsidized Property , Comments Off
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Civic Plaza-Section 8 Property-Rock Falls-Illinois

Senior Section 8 Sale in Western Illinois

In April of 2019, AHIB closed on the a senior section 8 sale in western Illinois. Civic Plaza is a 63 unit property with a full HAP contract, designated for independent senior living and located in Rock Falls, Illinois. After a marketing effort producing multiple offers, the owner chose to sell to a Chicago-based buyer who was using funds from a 1031 exchange. Furthermore, the buyer has ample experience working with both HUD and AHIB to give confidence [...]

April 22, 2019 By Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property Comments Off
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HUD 202 Restricted Sale - ICARE - Section 8 - HAP Contract - Westmont Illinois

HUD 202 Restricted Sale of a HAP Property in Suburban Chicago

On October 1st, AHIB completed the HUD 202 Restricted Sale of a HAP Property in Suburban Chicago.  The building, known as ICARE (Illinois Chinese American Residence for the Elderly), is located in Westmont, Illinois, and is comprised of 60 units of which 59 are covered by a project-based Section 8 contract.  Though the property had previously been refinanced, there is still a HUD 202 Use Agreement in place, restricting ownership to a non-profit organization and limiting allowable distributions. The property’s non-profit [...]

October 2, 2018 By Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Subsidized Property, Uncategorized Comments Off
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Low Income Housing Tax Credit Sale - Sun Valley-Section 42-LIHTC-Anderson-Indiana

Low Income Housing Tax Credit (LIHTC) Sale in Anderson, Indiana

On June 15th, Affordable Housing Investment Brokerage, Inc. (AHIB) completed a Low Income Housing Tax Credit (LIHTC) Sale in Anderson, Indiana.  Sun Valley was developed under the LIHTC program in 2004, then sold by AHIB in 2013 after the original developer defaulted on their first mortgage.  The property and it’s remaining tax credits were sold to a regional developer, who successfully restructured the deal’s income limits and stabilized occupancy. After closing on a permanent HUD-insured 223(f) mortgage, they hired [...]

June 16, 2017 By Sell HUD Financed Property, Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property Comments Off
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HUD-Financed-Hillside Manor-HUD Financed-New Ulm-Minnesota

Sale of Former HUD-Financed Apartments in New Ulm, Minnesota

On June 6th, AHIB completed the Sale of former HUD-financed apartments in New Ulm, Minnesota known as Hillside Manor. The property was originally developed under the HUD 236 program and had units subsidized by the local housing authority. Both buyer and seller are repeat clients of the firm, and the deal was structured off-market after the successful sale of the Western Manor apartments in Austin, Minnesota in 2016. The deal closed at an unusually low cap rate due to the [...]

June 6, 2017 By Sell HUD Financed Property, Sell Subsidized Property Comments Off
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