Sell LIHTC Property Archives - Page 3 of 4 - Affordable Housing Investment Brokerage

Senior LIHTC -Lincoln-Villas-Section-42-LIHTC-Racine-Wisconsin

Senior LIHTC and Project-Based Section 8 (HAP Contract) Sale in Wisconsin

On December 15th, AHIB completed a Senior LIHTC (Low Income Housing Tax Credit) and Project-Based Section 8 (HAP Contract) Sale in Wisconsin. AHIB was hired to market Lincoln Villas by a court-appointed receiver after the property’s parent company entered bankruptcy. A full HAP contract was in place in addition to LIHTC restrictions from a 2009 renovation financed by the Tax Credit Exchange Program. Furthermore, the deal was originally built under the HUD 202 program, but was refinanced in a [...]

December 16, 2016 By Kyle Shoemaker Sell HAP Contract Property, Sell LIHTC Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

AHF LIVE: Trump’s Impact on Project-based Section 8 (HAP) and Low Income Housing Tax Credit (LIHTC) Sales

With the 2016 Presidential Election in the rearview mirror, it is time to look forward to how the Trump Administration will affect the Section 8 (HAP) and Low Income Housing Tax Credit (LIHTC) programs. This was the primary focus of the AFH Live 2016 conference in Chicago with many industry leaders sharing their insights and perspectives on the topic. We know with certainty that Donald J. Trump will be our next President. There is uncertainty to his agenda and views [...]

December 1, 2016 By Kyle Shoemaker News, Sell HAP Contract Property, Sell LIHTC Property Comments Off

Family Project-Based Section 8-Hillcrest-Section 8-HAP Contract-McHenry-Illinois

$100K a Unit For a Family Project-Based Section 8 (HAP Contract) Sale to a LIHTC Developer

On October 26th, AHIB completed a deal that produced a price of over $100K a unit for a family project-based Section 8 (HAP Contract) sale to a LIHTC developer. AHIB was introduced to the potential seller in late 2015 by an outside party who knew the needed price would be very difficult to support. The owner had highly leveraged the property several years prior with an FHA-Insured mortgage, an selling the property for much more than the debt appeared [...]

October 26, 2016 By Kyle Shoemaker Sell HAP Contract Property, Sell LIHTC Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

AHIB Sells Senior Project-Based Section 8 -Jarvis-Farwell-Section-8-HAP-Contract-Chicago-Illinois

AHIB Sells Senior Project-Based Section 8 (HAP Contract) for Non-Profit in Chicago

In early June, 2016, AHIB sells senior project-based section 8 (HAP Contract) for non-profit in Chicago. The completed sale was of the Jarvis Farwell apartments in Chicago’s East Rogers Park neighborhood. The property consisted of two separate vintage buildings operating under one Project-Based Section 8 (HAP) contract, with a total of 85 units. After several unsuccessful attempts to sell the property directly, the Council for Jewish Elderly enlisted AHIB to market the deal in 2015 for a price higher [...]

June 9, 2016 By Kyle Shoemaker Sell HAP Contract Property, Sell LIHTC Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Partial HAP Contract Sale -Watterson-Lakeview-Section-8-HUD-236-Property-Louisville-Kentucky

Partial HAP Contract Sale with HUD 236 in Louisville, Kentucky

In April, 2016, AHIB closed on the partial HAP Contract sale of the Watterson Lakeview Apartments. The partial HAP Contract sale was 20% covered by the project-based Section 8 program. The deal also had a HUD 236 loan and is located in Louisville, Kentucky. The deal was completed as a co-listing with Cushman Wakefield of Cincinnati, who invited AHIB as a partner due to our affordable housing marketing expertise. After a short marketing period, eight offers were procured, including [...]

April 21, 2016 By Kyle Shoemaker Sell HAP Contract Property, Sell LIHTC Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Woodbridge-Section-8-HAP-Contract-Section-42-LIHTC-Kansas-City-Missouri

Kansas City HAP LIHTC

On November 19th 2015, AHIB closed on the sale of Kansas City HAP LIHTC apartments. The Woodbridge Apartments, a 118 unit property, with 67% project-based Section 8 coverage and all units still under LIHTC compliance from a renovation fifteen years prior. The purchaser of the Kansas City HAP LIHTC was a Maryland-based LIHTC developer with extensive experience in Missouri, who closed the deal in x months with bridge debt form a bank relationship. The buyer has submitted applications for a new [...]

November 20, 2015 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Indian-Trails-Rent-Supp-RAD-LIHTC-Conversion-Malone-New-York

New York RAD Portfolio

The second piece of a two property New York RAD Portfolio, with rent supplement contract and HUD 236 mortgage was successfully closed last week. The two properties, Cedars of Chili and Indian Trails, were successfully sold to Winn Companies, from Boston, Massachusetts, who are completing tax credit renovations of each. The Cedars of Chili deal was financed with tax exempt bonds and 4% low income housing tax credits (LIHTCs), and Indian Trails was financed with 9% LIHTCs. The buyer [...]

October 29, 2015 By Kyle Shoemaker Sell LIHTC Property, Sell RAD Property, Sell Section 42 Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Warehouse-Section-42-LIHTC-Hanover-Pennsylvania

LIHTC Sale in Hanover, Pennsylvania

In September, AHIB closed on a LIHTC sale of a thirty three unit development in Hanover, Pennsylvania. The project was an adaptive reuse renovation of a warehouse, hence the name, Warehouse Apartments. Completing the sale required obtaining soft debt forgiveness form the county. Obtaining this agreement was contingent on procuring a buyer qualified to take on the project’s remaining LIHTC compliance, keeping the property affordable housing, while also making physical improvements desired to improve the quality of tenant life. AHIB [...]

October 12, 2015 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property Comments Off

Lewis-and-Clark-Section-42-LIHTC-St. Louis-Missouri

AHIB Sells Low Income Housing Tax Credit (LITHC) Apartments in St Louis, MO

In March, working jointly with the St. Louis investment sales team of DTZ (formerly Cassidy Turley), AHIB sells Low Income Housing Tax Credit (LIHTC) Apartments in St Louis, MO at the Lewis and Clark Apartments. The sale included both the real estate and over $1M in remaining LIHTC. The complex was in default with US Bank after the developer who executed the original rehab could not meet high debt service obligations. DTZ was in position to earn the assignment [...]

April 28, 2015 By Kyle Shoemaker Sell LIHTC Property, Sell Subsidized Property Comments Off

The-Meridian-Section-42-LIHTC-Indianapolis-Indiana

Indianapolis Section 42 Low Income Housing Tax Credit (LIHTC) Sale

In December of 2014, AHIB completed an Indianapolis Section 42 Low Income Housing Tax Credit (LIHTC) Sale. The Meridian is a 50 unit, senior-designated property that had been renovated under the Section 42 Low Income Housing Tax Credit (LIHTC) program over fifteen years prior. The buyer in the deal utilized tax exempt bonds and low income housing tax credits as well as historic preservation credits.

December 24, 2014 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property Comments Off

LIHTC Property Sales