Such properties carried original mortgages backed by the U.S. Department of Housing and Urban Development. Currently, hundreds of the multi-family properties’ private owners are in trouble with escalating debt, accumulating interest and penalties, according to Gebroe-Hammer’s market specialists. The firm’s brokers say they see increasing opportunities for buyers who can take advantage of the long-term performance potential in HUD properties by possibly assuming part of a debt.

“Privately owned income- and age-restricted multi-family properties are rather ‘hot’ right now since they are characteristically well-occupied and well-maintained,” said Joseph Brecher, who has helped accomplish several such recent deals.

In some cases, said David Jarvis, the firm has been able to negotiate specific components, including a transfer-tax waiver. Brecher and Jarvis recently orchestrated the trade of a trade of a fully-occupied 200-unit age-restricted complex in southern New Jersey with that provision. In that case, the team represented the seller and identified the private buyer, a long-time Gebroe-Hammerclient. The seller had marketed the property intermittently during the past several years, noted Brecher.

Once named exclusive listing broker, Gebroe-Hammer finalized the sale within a few months, he said.