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Private Owners Sell Four-Property $92M Affordable Housing Portfolio

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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.