“This was a unique transaction in that the property is in the Low Income Housing Tax Credit program with nine years of remaining affordability,” said Rosa. “We saw significant interest from a diverse group of investors including traditional purchasers of affordable housing and market rate buyers.”
The Townhomes of Oakley is a 160-unit multifamily asset that is 99% leased. The property consists of eight one-bedroom units, 112 two-bedroom units, 36 three-bedroom units and four four-bedroom units. The asset is currently undergoing significant renovations including the replacement of roofs, windows and other exterior improvements as well as kitchen and bath modernization.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.