Private Owners Sell Four-Property $92M Affordable Housing Portfolio
Benjamin Mallah and Benjamin Mallah II sell 669-unit property to a national owner and operator of affordable housing communities.
Private Owners Benjamin Mallah and Benjamin Mallah II sold a four-property, 669-unit Low Income Housing Tax Credit portfolio located throughout Florida to a national owner and operator of affordable housing communities. The properties sold for a combined total of $91.75 million.
The properties are:
- The Overlook at Monroe,100 Willner Circle, Sanford
- Villas at Cove Crossing Apartments, 2730 Lantana Road, Lake Worth
- St. Luke’s Apartments, 915 Quincy Street, Lakeland
- Sonrise Villas Apartments, 53 Sonrise Place, Fellsmere
Constructed between 1994 and 2007, the properties range in size between 94 and 240 units. All were originally developed with affordable tax credits and have long-term income and rent restrictions.
Marcus & Millichap brokered the deal.