Properties for Sale

12/27/16

Revised Right of First Refusal Property for Sale- Valley Trails Apartments

On Dec. 16, 2016, the Texas Department of Housing and Community Affairs (the “Department”) notified potential  buyers of a Right of First Refusal (“ROFR”) Property For Sale known as Valley Trails Apartments in Irving, Texas. The ROFR price for this property is set at the fair market value, which is established by an executed purchase and sale agreement in the amount of $17,350,000.

The Department has since been notified by the owner that the purchase price has been adjusted to $17,050,000 via an amendment to the purchase and sale agreement. As a result, the 90-day ROFR posting period will re-start today, Dec. 27, 2016.

If you would like to explore purchasing this property at or above the established fair market value, please visit the property listing at the following link: https://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=210&v_cmd=inq

If you have any questions related to the property please contact the individual identified in the “Seller Contact Information” in the listing. If you have any questions related to the ROFR process please contact Raquel Morales at 512-475-2109 or raquel.morales@tdhca.state.tx.us.

The ROFR 90-day period will expire at 5 p.m. on March 27, 2017, Austin local time.

local time.


12/9/16

Right of First Refusal Property for Sale: Willow Pond Apartments (Dallas)  

The owner of Willow Pond Apartments (Dallas) has, in accordance with the Right of First Refusal (“ROFR”), provided proper notice of intent and requests that the Department find a non-profit buyer who will purchase the Development at the assigned price. For the next 90 days, beginning Dec. 9, 2016, Willow Pond Apartments is being made available for purchase to non-profit and/or tenant organizations who will maintain the low-income requirements on the property. Per Appendix A of the Land Use Restriction Agreement (“LURA”) for this property, the ROFR price is set at the fair market value, which is established by an executed purchase and sale agreement in the amount of $19,150,000.

If your organization is in a position to purchase Willow Pond Apartments at or above the posted price and would like to explore it further, please review the property’s information at: https://goo.gl/MwS7ck. More detailed information, which will allow you to investigate the possibility of making an offer is provided there. Interested buyers should coordinate with the owner’s representative to schedule a site visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place. The owner will have the choice of any offer at or above the posted ROFR price.

If you have any questions related to the property please contact the individual identified in the “Seller Contact Information” in the listing. If you have any questions related to the ROFR process please contact Raquel Morales at 512-475-2109 or raquel.morales@tdhca.state.tx.us.

The ROFR 90-day period will expire at 5 p.m. on March 8, 2017, Austin local time.


12/6/2016

Right of First Refusal Property for Sale: Sierra Vista Apts. (Dallas) 

The owner of Sierra Vista Apartments (Dallas) has, in accordance with the Right of First Refusal (“ROFR”), provided proper notice of intent and requests that the Department find a non-profit buyer who will purchase the Development at the assigned price. For the next 90 days, beginning Dec. 5, 2016, Sierra Vista Apartments is being made available for purchase to non-profit and/or tenant organizations who will maintain the low-income requirements on the property. Per Appendix A of the Land Use Restriction Agreement (“LURA”) for this property, the ROFR price is set at the fair market value, which is established by an executed purchase and sale agreement in the amount of $10,500,000.

If your organization is in a position to purchase Sierra Vista Apartments at or above the posted price and would like to explore it further, please review the property’s information at https://goo.gl/zYYiJh.  More detailed information, which will allow you to investigate the possibility of making an offer is provided there. Interested buyers should coordinate with the owner’s representative to schedule a site visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place. The owner will have the choice of any offer at or above the posted ROFR price.

If you have any questions related to the property please contact the individual identified in the “Seller Contact Information” in the listing. If you have any questions related to the ROFR process please contact Raquel Morales at 512-475-2109 or raquel.morales@tdhca.state.tx.us.

The ROFR 90-day period will expire at 5 p.m. on March 5, 2017, Austin local time.


Property for Sale: Right of First Refusal [HTC][MFC][MFB]

The owner of Country Club Creek in Austin has, in accordance with the Right of First Refusal (“ROFR”), provided proper notice of intent and requests that the Texas Department of Housing and Community Affairs (“TDHCA”) find a qualified buyer who will purchase the property at the assigned price. For a two year period, beginning Oct. 28, 2016, Country Club Creek is being made available for purchase to qualified entities who will maintain the low-income provisions of the property. Per Appendix A of the Land Use Restriction Agreement for this property, the qualified contract price is $26,241,320.
 
If your organization is in a position to purchase Country Club Creek at the posted price and would like to explore it further, please review the property?s information at https://goo.gl/Ap5bae.  More detailed information, which will allow you to investigate the possibility of making an offer is provided there. Interested buyers should coordinate with the owner?s representative to schedule a site visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place. The owner will have the choice of any offer at or above the posted ROFR price.
 
If you have any questions related to the ROFR process please contact Matt Zimmerman at 512-475-2014 or matthew.zimmerman@tdhca.state.tx.us. The two-year ROFR period will expire at 5 p.m. Austin local time on Oct. 28, 2016.

 

October 4, 2016

Lubbock Texas:

Tract B, is approved for a 500 unit, multifamily, affordable housing  development in two phases of 250 units subject to elevation approval etc.

Click HERE for to view/print flyer.

cushman-wakefield-630acres-newdealtxdev_page_1

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August 31, 2016

27 Acres For Sale
SE Austin ~ Near Hwy 71 and I-35 ~ off E St. Elmo
4500 Nuckols Crossing, Austin, TX 78744

      • 27 Acres
      • Currently zoned SF but in process of re-zoned to Multifamily
      • $14,500/Unit Asking Price
      • 300 to 500 total Units estimated or $4,350,000 to $7,250,000
      • 300 feet of frontage on Nuckols Crossing
      • City of Austin jurisdiction
      • City Austin Water and Wastewater nearby
      • Possible Multifamily Affordable Housing Site

Click Here for Flyer

Click Here for Loopnet Listing Detail

 

August 18, 2016

Property for Sale – Qualified Contract [HTC][MFC][MFB]

The owner of Royal Palms Apartments in Dallas, Texas, has requested that the Texas Department of Housing and Community Affairs (“Department”) assist in procuring a Qualified Contract, as defined in Internal Revenue Code §42(h)(6), for the acquisition of the property. For a One-Year Period, beginning August 18, 2016, Royal Palms Apartments is being made available for purchase at the Qualified Contract (“QC”) Price of $1,525,941. Anyone wanting to explore purchasing this property at or above the QC Price should review the property’s information at:

http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=206&v_cmd=inq.

Interested buyers should coordinate with the property owner to schedule a visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.

If you have any questions related to the QC process please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us.

The QC One-Year Period will expire at 5:00 pm Austin local time, on August 18, 2017.


July 7, 2016

Right of First Refusal Property for Sale

The Owner of Valley Ridge Apartments (Lewisville) has, in accordance with the Right of First Refusal, provided proper notice of intent and requests that the Department find a non-profit buyer who will purchase the Development at the prescribed price.  For the next 90 days, beginning July 6, 2016,  Valley Ridge Apartments is being made available for purchase to non-profit and/or tenant organizations who will maintain the low-income provisions on the property.  Per Appendix A of the Land Use Restriction Agreement for this property, the Right of First Refusal price is the Fair Market Value of the property, established by a purchase and sale agreement in the amount of $14,550,000.

If your organization is in a position, and would like to explore purchasing Country Club Apartments at the established fair market value price, please review the property’s information at this link:  http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=163&v_cmd=inq.

Further information, which will allow your organization to investigate the possibility of making the needed offer, is provided there. Interested buyers should coordinate with the owner’s representative to schedule a site visit and/or possible inspection of the property.  Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.  The owner will have the choice of any offer at or above the Right of First Refusal price.

If you have any questions related to the property please contact the Seller Contact identified in the listing. If you have any questions related to the Right of First Refusal process please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us.

The Right of First Refusal 90-day period expires at 5:00 p.m. on October 4, 2016, Austin local time.

 

May 18, 2016

Property for Sale – Qualified Contract [HTC][MFC][MFB]

The owner of North Knoll Apartments in San Antonio, Texas, has requested that the Texas Department of Housing and Community Affairs assist in procuring a Qualified Contract, as defined in Internal Revenue Code §42(h)(6), for the acquisition of the property. For a One-Year Period, beginning May 18, 2016, North Knoll Apartments is being made available for purchase at the Qualified Contract (“QC”) Price of $15,853,030. Anyone wanting to explore purchasing this property at or above the QC Price should review the property’s information at:  http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=160&v_cmd=inq.

Interested buyers should coordinate with the Seller Contact identified in the property listing to schedule a visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.

If you have any questions related to the Qualified Contract process please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us. The QC One-Year Period will expire at 5:00 pm Austin local time, on May 18, 2017.

 

March 28, 2016

Property for Sale – Qualified Contract [HTC][MFC][MFB]

The owner of Jordan Cove Apartments in League City, Texas, has requested that the Texas Department of Housing and Community Affairs assist in procuring a Qualified Contract, as defined in Internal Revenue Code §42(h)(6), for the acquisition of the property. For a One-Year Period, beginning March 28, 2016, Jordan Cove Apartments is being made available for purchase at the Qualified Contract (“QC”) Price of $20,128,405. Anyone wanting to explore purchasing this property at or above the QC Price should review the property’s information at:

http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=157&v_cmd=inq.

Interested buyers should coordinate with the Seller contact identified in the property listing to schedule a visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.

If you have any questions related to the Qualified Contract process, please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us. The One-Year Period will expire at 5:00pm Central Time, on March 28, 2017.

 

 

February 19, 2016

Right of First Refusal Property for Sale

The Owner of Country Club Apartments (Austin) has, in accordance with the Right of First Refusal, provided proper notice of intent and requests that the Department find a nonprofit buyer who will purchase the Development at the prescribed price.  For the next 90 days, beginning February 19, 2016, Country Club Apartments is being made available for purchase to nonprofit and/or tenant organizations who will maintain the low-income provisions on the property.  Per Appendix A of the Land Use Restriction Agreement for this property, the Right of First Refusal price is the Fair Market Value of the property.  The Owner has established the Fair Market Value of the property with an appraisal in the amount of $22,400,000.

If your organization is in a position to purchase Country Club Apartments at the established fair market value price and would like to explore this opportunity in greater detail, please review the property’s information at this link: http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=156&v_cmd=inq

Further information, which will allow your organization to investigate the possibility of making the needed offer, is provided there.  Interested buyers should coordinate with the owner’s representative to schedule a site visit and/or possible inspection of the property.  Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.  The owner will have the choice of any offer at or above the Right of First Refusal price.

If you have any questions related to the property please contact the Seller Contact identified in the listing. If you have any questions related to the Right of First Refusal process please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us.

The Right of First Refusal 90-day period expires at 5:00 p.m. on May 19, 2016, Austin local time.
January 27, 2016

Property for Sale – Qualified Contract [HTC][MFC][MFB]

The owner of Mountain Ranch Apartments in Austin, Texas, has requested that the Texas Department of Housing and Community Affairs (“Department”) assist in procuring a Qualified Contract, as defined in Internal Revenue Code §42(h)(6), for the acquisition of the property. For a one-year period, beginning January 26, 2016, Mountain Ranch Apartments is being made available for purchase at the Qualified Contract (“QC”) Price of $26,189,538. Anyone wanting to explore purchasing this property at or above the QC Price should review the property’s information at:  http://public.tdhca.state.tx.us/pub/T_HF_CLEARINGHOUSE.display_property?v_id=142&v_cmd=inq.

Interested buyers should coordinate with the Seller Contact identified in the property listing to schedule a visit and/or possible inspection of the property. Please be advised that the buyer must agree to operate the property in accordance with the low-income restrictions already in place.

If you have any questions related to the Qualified Contract process please contact Raquel Morales at (512) 475-2109 or via email at raquel.morales@tdhca.state.tx.us. The QC One-Year Period will expire at 5:00 pm Central Time, on January 26, 2017.
Mountain Ranch.2.

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