SVN closed the sale of a 108-unit affordable multifamily building in Dubuque, Iowa.
Reid Bennett and Cody Doran of SVN|Chicago Commercial negotiated the sale on behalf of the seller. The multifamily asset sold for $5 million.
Besides the new HUD regulations and LIHPRHA Use Agreement, what further complicated this transaction was the fact it was part of a probate sale.
Doran & Bennett focus on affordable and market rate transactions across the Midwest as well as other parts of the country and have utilized the national platform of SVN to market these assets for the highest values often times setting new pricing benchmarks in various markets.
