Sell Subsidized Property Archives - Page 5 of 5 - Affordable Housing Investment Brokerage

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

Woodland-East-Section-8-Partial-HAP-Contract-Michigan-City-Indiana

Family Business Selling HAP and Mark to Market in Northwest Indiana

This spring, AHIB worked with a family business selling HAP properties to successfully close on the sale of a portfolio of project-based Section 8 properties totaling nearly 500 units. The portfolio included a senior, mark to market deal with full Section 8 coverage in Hammond, and two family properties that formerly operated with HUD 236 loans and currently had partial Section 8 coverage in Michigan City. The properties were sold to two different buyers after a twenty two day [...]

June 28, 2015 By Kyle Shoemaker Sell Section 8 Property, Sell Subsidized Property Comments Off

Partial Project-Based Section 8 (HAP Contract) Sale in Kentucky

AHIB recently closed on the sale of a Partial Project-Based Section 8 (HAP Contract) Sale in Kentucky. Mayfeild Gardens is a 72 units family project in the city of Mayfield, Kentucky. Fourteen of the property’s units were covered by project-based Section 8 HAP contract.

May 24, 2015 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized 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

Meadows-at-Grand-Lake-Section-42-LIHTC-Celina-Ohio

Year 15 LIHTC Property Sells for Sub 4% Cap Rate

After a few short weeks of marketing, a year 15 LIHTC property sells by the team of AHIB and DTZ’s Cincinnati multifamily group procured seven offers on a Section 42 Low Income Housing Tax Credit property in Celina, Ohio, for Miller Valentine. The property, named the Meadows at Grand Lake, had recently exited its initial 15 year LIHTC compliance period and the developer client successfully bought their limited partner’s interest. After pricing the asset appropriately, the marketing team produced several [...]

June 20, 2014 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property Comments Off

Fairview-Park-Section-42-LIHTC-Anderson-Indiana

Sale of Section 42 Low Income Housing Tax Credit (LIHTC) Property and Remaining Low Income Housing Tax Credits (LIHTCs)

In July of 2013, AHIB completed the Sale of Section 42 Low Income Housing Tax Credit (LIHTC) Property and Remaining Low Income Housing Tax Credits (LIHTCs) at the Fairview Park Apartments in Anderson, Indiana. The eighty unit project was sold for the first mortgage holder and included $840,325 in remaining tax credits. AHIB produced multiple offers within two weeks of marketing. A deal was negotiated with one who closed the transaction after a sixty-six day escrow period. The buyer was [...]

July 24, 2013 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property Comments Off

Subsidized Housing Property Sales