Oregon Senior Section 8 SaleKyle Shoemaker
On September 14th, AHIB completed an Oregon senior Section 8 sale. The property, Rose Senior Apartments, has 40 units covered by a HAP contract and a commercial space. The building is a historic mid-rise in downtown Roseburg.
After multiple bids were procured by regional buyers in an effort to complete the Oregon senior Section 8 sale, the owner opted to sell to a local non-profit. As an entrepreneur involved in other businesses in the community, it was critical to the seller that the property be in good hands. The market created by AHIB allowed multiple options, creating accurate price discovery to make sure no money was left on the table.
The buyer plans an extensive renovation of the property utilizing state finance incentives, including a potential Low Income Housing Tax Credit execution.