Affordable Housing Investment Brokerage Arranges $10.4M Sale of Indiana Portfolio
GARY, IND. — Affordable Housing Investment Brokerage Inc. has arranged the $10.4 million sale of a 14-building, 249-unit affordable housing portfolio in Gary, about 30 miles southeast of Chicago. All 14 buildings are located within a one-mile radius, with most situated along West 5th Avenue. The portfolio comprises 106 one-bedroom units, 110 two-bedroom units and 33 studio units. All units are covered under a housing assistance payments (HAP) contract that expires in January 2024. Rents range from $836 to $1,021 per month. Kyle Shoemaker of Affordable Housing Investment Brokerage represented the buyer and seller, both of which were private investors.