239 UNIT AFFORDABLE HOUSING COMPLEX
4% BOND & TAX CREDIT OPPORTUNITY
Tamarack Real Estate Services is proud to announce the closing of Foothill Villas, a 239 Unit Affordable Housing complex in San Bernardino, CA for $58M. David Kaufman of Tamarack RES proposed selling this asset between $55 to $57M in September 2019 when a well-known competitor had priced it between $38.5 to $42.5M. After marketing the asset unpriced, Tamarack RES was able to generate 18 written offers and after Best and Final was able to secure an offer at $58M from a reputable affordable housing developer. As a result of Tamarack’s relationships developed over the past 30 years, coupled with the technical know-how to value and execute on specialty real estate, Tamarack was able to accurately value and perform on an important asset for our happy client. Tamarack RES represented both the Buyer and Seller.
