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HAC News & Press

Heritage Affordable Communities Press - Cision

Heritage Affordable Communities Acquires 868-Unit LIHTC GP Interest Portfolio in Tennessee

Heritage Affordable Communities (“HAC”) is proud to announce its recent acquisition of 11 LIHTC General Partnership Interests, solidifying its presence in the affordable housing market across the great state of Tennessee…

November 01, 2023

Heritage Affordable Communities Press - Johnson City Press

Expanding horizons: Heritage Affordable Communities acquires DPKY Management Company

Heritage Affordable Communities, a leading name in the affordable housing industry, has recently made a move that is poised to expand its footprint throughout Tennessee…

November 01, 2023

Heritage Affordable Communities Press - Greystone

Heritage Affordable Communities Receives Article Xi for Harlem Property

Heritage Affordable Communities has recently closed on the acquisition of a 33-unit affordable housing property located at 246 West 116th Street in Central Harlem, Manhattan. The property consists of 32 residential units and one commercial space. The Developer was able to work with the local council to get an Article XI Tax Exemption for 40 years…

October 01, 2023

Heritage Affordable Communities Press - The Real Deal

Upper Manhattan, Bronx Multifamily Portfolio Trades for $60m

A trio of families sold a portfolio of multifamily buildings in the Bronx and Upper Manhattan they had owned for…

September 30, 2023

Heritage Affordable Communities Press - The Real Deal

Multifamily Market in Bk, Queens Rebounds

The multifamily market bounced back in Brooklyn, and Queens but stayed in the red in Manhattan. The total dollar volume…

September 29, 2023

Heritage Affordable Communities Press - The Real Deal

Macquesten Development Sells Harlem Apartment Buildings for $22.6m

Affordable housing developer Macquesten Development has sold two Harlem residential buildings for $22.6 million. Photo via Macquesten Development’s website The…

September 28, 2023

Heritage Affordable Communities Press - The Real Deal

Hajibay of Heritage Realty Handles $22.6 Million Two-Building Portfolio Acquisition in Manhattan; Berkadia Arranges $15.13 Million Loan

Manhattan, NY According to Heritage Realty, Alex Hajibay, principal, has completed the acquisition of a two-building portfolio for $22.6 million. The…

September 27, 2023

Heritage Affordable Communities Press - The Real Deal

ON THE SCENE: This Week’s Middle Market Sales & Exclusives

Sitex Group has acquired a vacant warehouse located at 310 Paterson Plank Rd. in Carlstadt, NJ, from a private investor. The 30,000 s/f warehouse is located…

September 26, 2023

Heritage Affordable Communities Press - The Real Deal

Heritage Affordable Communities Acquires Bronx Property for $10.8m

Bronx, NY Alex Hajibay’s Heritage Affordable Communities acquired a 70-unit property for $10.8 million. The property located at 1971 Webster Ave. was constructed in 2003. MacQuesten Development was the seller.

September 24, 2023

Heritage Affordable Communities Press - Globe Newswire

Greystone Provides $17.5 Million in Fannie Mae Dus Financing for Affordable Housing Portfolio Acquisition in New York City

Greystone, a leading national commercial real estate finance company, has provided a total of $17,573,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans for the acquisition of two multifamily properties totaling 151 units in New York City…

September 23, 2023

Heritage Affordable Communities Press - Globe Newswire

Heritage Affordable Communities Acquires Two Props

Yonkers, NY Alex Hajibay’s Heritage Affordable Communities acquired an 88-unit property for $15.7 million. The property, located at 34 Highland Ave., was constructed in 2009…

September 22, 2023

Heritage Affordable Communities Press - The Real Deal

ON THE SCENE: This Week’s Middle Market Sales & Exclusives

Bronx, NY Alex Hajibay, principal of Heritage Affordable Communities, has acquired a 47-unit affordable housing property. Hajibay purchased the 47-unit new construction affordable housing building at 425 Claremont Parkway for $5 million…

June 25, 2023

Heritage Affordable Communities Press - The Real Deal

Ariel Property Advisors Closes on Sale of Seven Bronx Multifamily Properties for over $15M

Ariel Property Advisors has announced the sale of two Bronx transactions totaling $15.325 million—the St. Ann’s Portfolio, comprised of six multifamily buildings in Mott Haven, and 1701 Parkview Avenue, a new construction multifamily building in Pelham Bay…

February 11, 2023

Heritage Affordable Communities Acquires 868-Unit LIHTC GP Interest Portfolio in Tennessee

Heritage Affordable Communities (“HAC”) is proud to announce its recent acquisition of 11 LIHTC General Partnership Interests, solidifying its presence in the affordable housing market across the great state of Tennessee…

November 01, 2023

Heritage Affordable Communities’ Major Growth in the Affordable Housing Space

In the past few months, HAC has created a deep pipeline of affordable housing properties nationwide requiring various different strategies. HAC’s pipeline involves…

October 02, 2023