100% Project-Based Section 8 (HAP Contract) Property in Tampa, Florida

On December 22nd, AHIB completed the sale of a 36 unit HAP Contract property in Tampa, Florida.  The deal, consisting of 100% project-based Section 8 units, was completed start to finish in just under seven months for over $56K a unit. A local owner enlisted AHIB after marketing the property himself.  While he had procured at least one decent offer, he saw value in a broader effort to bring competition to his engaged buyer and see other options.  AHIB’s efforts strengthened [...]

900 Units in Gary Indiana - Concord-Commons-Section-8-HAP-Contract-Gary-Indiana

900 Units in Gary, Indiana

In November, 2015, AHIB closed on the sale of two properties totaling nearly 900 units in Gary, Indiana. The properties each had partial project-based Section 8 contracts (about 20% of the units were covered) and had been previously been financed with HUD 236 loans, which had recently matured. Concord Commons and Woodlake were sold to Merchants Affordable Housing Corporation, a non-profit started by the owner of Indianapolis’ PR Mortgage, with acquisition and rehab funding coming from tax exempt bonds [...]