Search
 

LIHTC Apartment Trades in Dundalk, MD

Market rents are well below maximum allowable LIHTC rent levels, providing for a strong yield and preservation opportunity for the buyer.

By Erika Morphy | Updated on November 02, 2017

Portside Apartments

DUNDALK, MD–A local private investor has sold a 150-unit apartment here to Matt Teichman, the principal of BCI Management. Greysteel arranged the sale of the property, called Portside Apartments, a garden-style community that was placed in service under the Section 42 Low Income Housing Tax Credit program in 2007. The property was later rehabbed with a 9% credit award.

“With market rents well below maximum allowable LIHTC rent levels, this provided a strong yield and preservation opportunity for the buyer,” according to Alicia Orkisz, who along with Ari Firoozabadi, Ari Azarbarzin and Henry Mathies negotiated the sale on behalf of the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.