Kyle Shoemaker on Forbes: Diversify Into Affordable Housing

When running a multifamily investment and management business, there is no shortage of problems and complications. So why would a multifamily owner welcome more complication such as buying a Low-Income Housing Tax Credit (LIHTC) or project-based Section 8 (Housing Assistance Payments Contract, or HAP) deal? There are many reasons and misconceptions that have led to market-rate investors not considering affordable housing deals. But with the stark realities of the COVID-19 crisis, primarily that over 30 million Americans have lost their jobs as [...]

Read more...

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 [...]

Read more...