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Capstone is pleased to present Hunter Pointe & Westfork Apartments, a combined 64-unit portfolio located within the rapidly growing metro of Birmingham, AL. Each asset is conformed to a Low-Income Housing Tax Credit (LIHTC) project, limiting all units to 60% of AMI. Hunter Pointe & Westfork Apartments offer an immediate loss to lease burn-down opportunity as in-place rents trail the Max Allowable Rents. Additionally, each asset has been exceptionally maintained, providing new ownership with minimal maintenance requirements upon acquisition. The restrictive covenants for each property will expire in 2030, offering new ownership lucrative strategies to either re-syndicate the tax credits or increase revenue by bringing properties to market rent, significantly increasing the property value. With multiple investment opportunities and favorable building characteristics, Hunter Pointe & Westfork Apartments present a premier investment opportunity.
Immediate Rent Growth Achievable as Affordable Rents Trail Max Allowable
Well-Maintained Assets with Minimal Deferred Maintenance
Option to Resyndicate Tax Credits or Transition to Market Rate Rents