Kyle Shoemaker, Author at Affordable Housing Investment Brokerage

Maple Park Apartments: Senior HAP Sale in Iowa

Affordable Housing Investment Brokerages, Inc. (AHIB) is pleased to announce the closing of the Maple Park Apartments, a HAP offering in Algona, Iowa. Maple Park is an Independent Senior community with full HAP coverage. Algona is a city of over five thousand residents in northern Iowa, between Des Moines and Minneapolis. The city is the county seat and home to a regional medical center. The property is a quiet community with a landscaped garden courtyard, laundry facilities on each floor, [...]

Our Lady of the Lake-Senior PRAC and 202 HAP-Baton Rouge-LA-262units

262-Unit Senior PRAC and 202 HAP Sale: $17.82 Portfolio in Baton Rouge

Affordable Housing Investment Brokerages, Inc. (AHIB) is pleased to announce the closing of the Lady of the Lake senior HUD housing portfolio, comprised of four properties, Chateau Louise, Villa St. Francis, Assisi Village, and Calais House in Baton Rouge, Louisiana. The campus is comprised of five adjacent buildings, three properties operating under PRAC contracts, one operating with a HAP contract under the HUD 202 program, and the fifth that serves as an office and community center. AHIB procured multiple offers [...]

April 21, 2023 By Kyle Shoemaker Sell HAP Contract Property, Sell PRAC Property 202 HAP, HAP, Louisianna, PRAC, RAD, Senior Comments Off

Burlington-LIHTC-Vermont Portfolio-Burlington-Saint Albans-Vermont

Burlington Senior Housing: LIHTC Portfolio Sale in Vermont

Affordable Housing Investment Brokerages, Inc. (AHIB) represented the seller of the 191-unit portfolio made up of three properties, Hawk’s Nest, Falcon Manor and Eagle Crest near Burlington, Vermont. Each of the properties serves independent senior tenants and were developed under the Section 42 Low Income Housing Tax Credit program (LIHTC). The offering provided a unique opportunity to enter the Burlington market with economies of scale across three well-maintained properties with sustained excellent operations. AHIB was able to procure multiple offers [...]

February 17, 2023 By Kyle Shoemaker LIHTC, Sell LIHTC Property, Sell Section 42 Property Burlington, Senior, Vermont Comments Off

Valkommen Plaza: Independent Senior Apartments Sale in Illinois

Affordable Housing Investment Brokerage, Inc. (AHIB) represented the seller of the 171-unit Valkommen Plaza, an independent senior apartment building operating with a HAP contract. Valkommen Plaza is a nine-story, elevator building with commercial spaces on the first floor, providing excellent amenities including a beauty salon, police sub-station and grocery for the local community of downtown Rockford, Illinois. Rockford, Ill., boasts a population of 150,000 just 70 miles northwest of Chicago on Interstate 90. Officials just announced a $200M planned [...]

February 6, 2023 By Kyle Shoemaker Sell HAP Contract Property HAP, Illinois, LIHTC, Rockford, Sale, Senior, Valkommen Plaza Comments Off

Creekside Village-Senior LIHTC-Monroe-Michigan

Creekside Village: Independent Senior Property Sale in Michigan

In December 2022, AHIB closed on 77 LIHTC Independent Senior Units in Monroe, Michigan. The fenced in garden community known as Creekside Village was developed with the Low Income Housing Tax Credit (LIHTC) and placed in service in 2004. Creekside Village units provide personal front yards and backyards in a calm neighborhood near medical centers and pharmacies ideally suited for independent senior living. All common areas, units and hallways are senior-friendly, with ample space to accommodate mechanical aids (wheelchairs, walkers, [...]

January 13, 2023 By Kyle Shoemaker LIHTC, Sell LIHTC Property, Sell Section 42 Property Creekside, LIHTC, Michigan, Monroe, Sale, Section 42, Senior Comments Off

LIHTC SAIL Sale in Palatka, Florida

Affordable Housing Investment Brokerage, Inc recently represented the seller of the Kay Larkin and Grand Pines Apartments in Palatka, Florida. Kay Larkin and Grand Pines were both developed using both Low Income Housing Tax Credit (LIHTC) and State Apartment Incentive Loans (SAIL) from the Florida Housing Financing Corporation (FHFC) and are subject to regulatory agreements for 50 years from their placed-in-service date. Kay Larkin is a 60-unit garden style LIHTC property that was placed in service in 2000. Grand [...]

April 26, 2022 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Tax Credit Property Comments Off

HUD 202 Sale in Pennsylvania

In early March of 2022, AHIB, Inc. completed the sale of the Kime Apartments, a 50 unit, HUD 202, HAP contract property in Great Bend, Pennsylvania. While the property’s original HUD 202 was refinanced several years ago, the HUD 202 Use Agreement was still in place, restricting future ownership based on substantial non-profit participation. The HUD 202 apartments are located on the northern boarder of Pennsylvania, between Scranton, PA and Binghampton, New York. Marketing produced multiple offers from regional and [...]

March 15, 2022 By Kyle Shoemaker Sell HAP Contract Property, Sell HUD Financed Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Midwest Multifamily & Affordable Housing Business

The Multifamily & Affordable Housing Business regional magazine covers the full spectrum of news and trends analysis in the multifamily, affordable and workforce housing sector. The November/December edition of Midwest Multifamily & Affordable Housing Business features AHIB Managing Director Kyle Shoemaker in a Broker Roundtable. The discussion focuses on investing in the multifamily space while navigating through the pandemic. You can read more about this story on the digital edition of Midwest Multifamily & Affordable Housing Business [...]

December 17, 2021 By Kyle Shoemaker News Comments Off

Western Michigan LIHTC Portfolio

AHIB recently closed on a LIHTC portfolio comprised of 35 total units in three different cities within the western half of Michigan. The portfolio is comprised of three separate LIHTC developments that were constructed between 2003 and 2006 with funding from the Low Income Tax Credit program. Ashley Square is 12 units in Kalamazoo, Golden Eagle is 12 units in Benton Harbor, and Countryside is an 11 unit senior property in Ravenna (north of Grand Rapids). Each property [...]

December 14, 2021 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Tax Credit Property Comments Off

Mark-to-market hap contract - Laurel Village I and II - Somerset, PA

Mark-to-Market HAP Property Sold in Pennsylvania

Recently, AHIB brokered the sale of a 96-unit, full HAP Contract apartment community for $6.1 million in Somerset, Penn. The community, known as Laurel Village I and Laurel Village II, are two separate properties adjacent to each other and operated as one. Each property has its own HAP contract and set of financials. Laurel Village I was formerly operated under the 515 program, but that debt has been paid off and there are no USDA or 515 restrictions in [...]

November 19, 2021 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized Property Comments Off