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Affordable Housing Investment Brokerage Closes on Two Low Income Housing Tax Credit Apartment Buildings in Palatka, Florida

PALATKA, FL - Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, along with Grand Pines Apartments, a 78-unit senior living apartment community in Palatka, Florida for $4,850,000. Managing Director Kyle Shoemaker and Senior Vice President Bill Brading represented both the buyer, The Grey Rock Group LLC, and the seller, a private investor, to complete the transaction. Kay Larkin and Grand Pines were both developed using. ....

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Affordable Housing Investment Brokerage Closes on 50-Unit Baker Manor Apartments in Macclenny, Florida for $2.5 Million

MACCLENNY, FL - Affordable Housing Investment Brokerage Inc. (AHIB) has recently sold Baker Manor Apartments in Macclenny, Florida for just over $2.5 million, with a reserve account released to the seller as additional consideration. Managing Director Kyle Shoemaker represented both the purchaser, The Grey Rock Group, and the seller to complete the transaction.
“Baker Manor is fully-covered by a project-based Section 8 contract that has allowed ownership to invest heavily in the property and make all necessary repairs and renovations as needed,” said Shoemaker.
Centrally located along South 6th Street, the 1974 construction, 50-unit, garden-style apartments consisting of 12 one-bedroom, 26 two-bedroom, and 12 three-bedroom units. Rents in the building range from $655 to $924 per month. Amenities include a playground, pool that underwent renovations in 2018, a laundry facility, community room, and on-site management office. ....

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