Hallmark at Greenwood: Section 42 Sale in South CarolinaBill Brading
Affordable Housing Investment Brokerage, Inc. represented the seller of The Hallmark at Greenwood and The Hallmark at Truesdell. The properties were marketed and sold as a portfolio to the same buyer.
The Hallmark at Greenwood is a Low Income Housing Tax Credit (LIHTC) apartment community is located in Greenwood, South Carolina. It was placed in service 2009 with initial compliance ending in 2024. The community includes 88 two-bedroom units spread across 12 buildings.
The tax credit property had 10 vacant units at the time of sale. Greenwood County has seen a 12.5% increase in AMI growth over the last year allowing the buyer to target higher rents. AHIB’s marketing produced multiple offers from regional and national affordable buyers for the tax credit property. The seller ultimately chose to sell The Hallmark at Greenwood in one deal with The Hallmark at Truesdell. The buyer is an experienced, regional private affordable housing investor.