Low Income Housing Tax Credit sale in Indiana on June 15th

16 Jun

Low Income Housing Tax Credit Sale - Sun Valley-Section 42-LIHTC-Anderson-Indiana

Low Income Housing Tax Credit (LIHTC) Sale in Anderson, Indiana

By Kyle Shoemaker Sell HUD Financed Property, Sell LIHTC Property, Sell Section 42 Property, Sell Subsidized Property Comments Off

On June 15th, Affordable Housing Investment Brokerage, Inc. (AHIB) completed a Low Income Housing Tax Credit (LIHTC) Sale in Anderson, Indiana. Sun Valley was developed under the LIHTC program in 2004, then sold by AHIB in 2013 after the original developer defaulted on their first mortgage. The property and it’s remaining tax credits were sold to a regional developer, who successfully restructured the deal’s income limits and stabilized occupancy. After closing on a permanent HUD-insured 223(f) mortgage, they hired AHIB to market the project for sale. Multiple offers were procured by experienced LIHTC owners and the deal was closed, including a full TPA assumption of the debt, in under six months.

To be a successful affordable housing real estate broker you have to be knowledgeable in the industry and know the housing programs. Because AHIB speaks our language, they match us up with buyers that meet our sales price expectations and get us to the closing table. AHIB breaks down complicated HUD/LIHTC transactions to their simplest form. Because of their expertise and valuing relationships, we look forward to working with AHIB to serve our future brokerage needs. .

David ProutPresident - Chesapeake Community Advisors, Inc.

When one of our owners needed to sell an existing low income housing tax credit property in a tough market, with existing tax credits as part of the deal, I immediately knew AHIB and Kyle Shoemaker were the right team for the job. AHIB was very sensitive to the concerns we had for our onsite employees while maximizing our owner’s best interest. Multiple offers at our target price were procured within a few weeks, including buyers who paid full value for the remaining LIHTCs.

Timothy ShaferPresident - HI Management

© Copyright 2023, Affordable Housing Investment Brokerage, Inc. All Rights Reserved. This information is taken from sources believed to be reliable. Affordable Housing Investment Brokerage, Inc. makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risks for any inaccuracies. The Affordable Housing Investment Brokerage Logo is a registered trademark of Senior Living Investment Brokerage, Inc.

Your Trusted Section 8 and Section 42 Broker