Affordable Housing Investment Brokerage Inc. (AHIB) was hired by a court-appointed receiver to find new owners for portions of Heartland Housing’s Wisconsin portfolio. The portfolio consisted of 166 affordable housing units across five properties in Madison and Milwaukee, Wisconsin. AHIB’s Managing Director Kyle Shoemaker represented all buyers involved in the transaction.
According to Shoemaker, it was crucial for the Wisconsin Housing and Economic Development Authority (WHEDA), as well as the cities of Madison and Milwaukee, to secure new ownership capable of managing each property complex’s restrictions while maintaining affordability.
Cinnaire Solutions acquired two properties in Madison – Rethke Terrace and Tree Lane Apartments – while three private investors purchased the remaining properties in Milwaukee: St. Anthony Apartments, Prairie Apartments, and Maskani Apartments.
The sale of this 166-unit portfolio is just one example of AHIB’s expertise in advising on affordable housing investment opportunities within Wisconsin.
