Subsidized Housing Property Sales

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

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 [...]

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Mayfair Apartments - Section 8 - Full HAP

HAP Coverage in Kansas City

Mayfair Apartments, located at 1224 E. Linwood Blvd. in Kansas City, MO is a 60-unit affordable housing community. Fifty-nine of the sixty units are covered by a 20 year HAP contract that was entered in 2007. All of the units are one-bedroom apartments, an ideal setting for senior tenants. Located two miles southeast of downtown Kansas City, tenants have access to many local area amenities. Mayfair Apartments is also located in a Qualified Census Tract as well as [...]

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Summit Syracuse - Section 8 - Partial HAP - Syracuse, NY

Partial HAP Sale in New York

Summit Apartments, located at 301 Columbus Ave. in Syracuse, NY is a 108-unit affordable housing community (Partial HAP Contract) that is spread between five sites within a two-mile radius of Syracuse University. Ninety-three of the 108 units are covered by a 20 year HAP contract that was entered in 2006. Rents are 20% below market averages and is located in a Qualified Census Tract. The structure of this deal is well positioned to either cash flow with continued [...]

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Western Illinois HAP Sale - Fieldcrest Apartments

Western Illinois HAP Sale

AHIB recently completed a full HAP sale in Western Illinois. Fieldcrest Apartments includes forty-one apartments operating under one HAP contract at two different sites in Western Illinois, specifically in the cities of Orion and Cambridge. The two locations are located approximately twelve miles apart and fourteen miles from the Quad Cities MSA. All units are reserved for independent seniors or disabled individuals. Fieldcrest was owned by long-term investors who have made numerous improvements to the properties, leaving [...]

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Full HAP coverage-New York-Briarwood MEadows

Full HAP Coverage in New York

Briarwood Meadow Apartments is a thirty-three unit apartment community with full HAP coverage from a project-based Section 8 contract. The community is in Black River, just outside of Watertown, New York. Watertown is the county seat of Jefferson County with a population just under one hundred ten thousand residents. The property has undergone significant physical renovations in recent years and has current rents that trail the market. Contract rents are both below comparable properties in the market, and HUD [...]

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LIHTC Award - Summit Garden-Jonestown Mississippi

9% LIHTC Award

Affordable Housing Investment Brokerage, Inc. represented the seller of the 65-unit Summit Garden Apartments in Jonestown, Mississippi. All the units of the multifamily property are covered by a Project-Based Section 8 HAP Contract that was entered in 2011 through the HUD Office of Housing Property Disposition.  AHIB represented Summit Corporations in the sale of the Summit Garden Apartments to Hughes Spelling. The buyer received a 9% LIHTC award to complete the acquisition and renovation. Multiple offers were procured on [...]

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greenway park-senior hap-wichita kansas

Senior HAP Sale in Wichita

On June 17, 2021, AHIB completed the sale of Greenway Park, a 91-unit Senior HAP complex. Built in 1979, Greenway Park is a Project-Based Section 8 Senior and Disabled property consisting of one 3-story building containing 91 one-bedroom apartment homes on 3.25 acres. Greenway Park is located at 404 W. Pawnee Avenue just minutes from downtown Wichita. The property is one of a very few competing properties for affordable, independent senior apartment options in the area. This Senior HAP project [...]

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Senior HAP Sale - Cambridge - Lawton Oklahoma

Senior HAP sale in Oklahoma

On October 30, 2020, AHIB closed a Senior HAP sale. Multiple offers were received on this Independent Senior HAP sale which is located in Lawton, Oklahoma. The seller was a non-profit developer. The original owner applied but did not receive a LIHTC allocation. As a result, they decided to sell.     The purchaser acquired the community using conventional financing. They are considering refinancing with HUD debt in the future. 

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Senior HAP Closing During Covid-19

In May of 2020, AHIB successfully closed on the sale of Mt Carmel and Mt Village II apartments in Waterloo, Iowa. The deals went under contract in the late fall of 2020. The buyer, an east coast based non-profit, AHIB, and KeyBank, the buyer’s Freddie Mac lender, worked together to keep the deal on track through the Covid-19 crisis. The closing occurred at the original sale price. A post-closing renovation is planned using LIHTC funds. The [...]

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Kensington-Village-Affordable Housing-Winston-Salem-North-Carolina

142-Unit Affordable Housing property sold in Winston-Salem, North Carolina

We are pleased to announce the sale of Kensington Village Apartments, a 142-unit multifamily apartment property in Winston-Salem, North Carolina.  The well-maintained, stabilized property was originally built in the 1970’s and completely renovated in 2009. The prior renovation was financed by various sources including a HUD Grant. The HUD Grant was accompanied by multiple affordable housing deed restrictions including limits on tenant income and rent maximums. The brokers deployed a targeted marketing effort to identify and engage [...]

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