LIHTC Property Sales

Affordable Housing Brokerage is your one stop for selling your LIHTC property. Browse our LIHTC sales below to read about our sucesses in the marketplace.  If you are ready to sell LIHTC housing, please contact us today and we will be happy to provide you with a no risk, no obligation consultation for your LIHTC property.

Partial HAP Contract Sale -Watterson-Lakeview-Section-8-HUD-236-Property-Louisville-Kentucky

Partial HAP Contract Sale with HUD 236 in Louisville, Kentucky

In April, 2016, AHIB closed on the partial HAP Contract sale of the Watterson Lakeview Apartments. The partial HAP Contract sale was 20% covered by the project-based Section 8 program. The deal also had a HUD 236 loan and is located in Louisville, Kentucky. The deal was completed as a co-listing with Cushman Wakefield of Cincinnati, who invited AHIB as a partner due to our affordable housing marketing expertise. After a short marketing period, eight offers were procured, including [...]

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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 [...]

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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 [...]

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Warehouse-Section-42-LIHTC-Hanover-Pennsylvania

LIHTC Sale in Hanover, Pennsylvania

In September, AHIB closed on a LIHTC sale of a thirty three unit development in Hanover, Pennsylvania.  The project was an adaptive reuse renovation of a warehouse, hence the name, Warehouse Apartments. Completing the sale required obtaining soft debt forgiveness form the county. Obtaining this agreement was contingent on procuring a buyer qualified to take on the project’s remaining LIHTC compliance, keeping the property affordable housing, while also making physical improvements desired to improve the quality of tenant life.  AHIB [...]

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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 [...]

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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.

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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 [...]

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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 [...]

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