Kansas City Missouri MSA HAP Property Sale - AHIB

28 Nov

Kansas City Missouri MSA HAP Property Sale -Little Village-Buckner-MO-Section 8-HAP Contract

Kansas City Missouri MSA HAP Property Sale

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

On November 21^st, 2017 Affordable Housing Investment Brokerage, Inc. (AHIB) completed a Kansas City Missouri MSA HAP property sale. The 42-unit apartment community, Little Village, is located approximately 25 miles from Kansas City, Missouri, just east of Independence. Little Village is covered 100% by a Project-Based Section 8 (HAP Contract) and is located in Buckner, Missouri. The property is made up of one, two and three bedroom floor plans. Of the 42 total units, 34 units are designated for families and 8 units are designated for seniors. The transaction was completed start to finish in just over six months for over $55,000/unit. Freddie Mac debt was secured by the purchaser to acquire the property.

AHIB represented private owners in the sale of the property after it was previously marketed by a nationally recognized multi-family brokerage firm. AHIB created interest amongst a large pool of affordable housing and conventional investors. The seller ultimately accepted an offer from a national affordable housing investor with a presence in the Kansas City MSA.

To be a successful affordable housing real estate broker you have to be knowledgeable in the industry and know the housing programs. Because AHIB speaks our language, they match us up with buyers that meet our sales price expectations and get us to the closing table. AHIB breaks down complicated HUD/LIHTC transactions to their simplest form. Because of their expertise and valuing relationships, we look forward to working with AHIB to serve our future brokerage needs. .

David ProutPresident - Chesapeake Community Advisors, Inc.

When one of our owners needed to sell an existing low income housing tax credit property in a tough market, with existing tax credits as part of the deal, I immediately knew AHIB and Kyle Shoemaker were the right team for the job. AHIB was very sensitive to the concerns we had for our onsite employees while maximizing our owner’s best interest. Multiple offers at our target price were procured within a few weeks, including buyers who paid full value for the remaining LIHTCs.

Timothy ShaferPresident - HI Management

© Copyright 2024, Affordable Housing Investment Brokerage, Inc. All Rights Reserved. This information is taken from sources believed to be reliable. Affordable Housing Investment Brokerage, Inc. makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risks for any inaccuracies. The Affordable Housing Investment Brokerage Logo is a registered trademark of Senior Living Investment Brokerage, Inc.

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