Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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QUICK STATS
$2,213/$2.12
Market Rent
75,368
RENTABLE AREA
2023
YOC
64
UNITS
Investment highlights
The property has performed incredibly efficiently, as evidenced by a vacancy rate of under 1.0% in 2024
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Beaufort County has experienced tremendous income growth with the HUD Median Family Income increasing by 27.44% from 2020 to 2024
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The maximum allowable rents are at a $250+ discount to comparable market rate properties, providing for durable operations and low turnover
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The HUD Market Rents for One-, Two-, and Three-Bedrooms in Beaufort County Increased by 9.06% for 2025, highlighting the strength of the rental market
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96%
OCCUPIED
xxx
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GALLERY
GALLERY
2012
BUILT
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140 Alderbrook Cir. - Washington, NC 27889
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PROPERTY OVERVIEW
Alderbrook Pointe is a 64-unit affordable housing community located in Washington, NC. The property is conveniently located minutes from major retailers, including Walmart Supercenter and Food Lion. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built and placed in service in 2012 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 40%, 50%, and 60% of the Area Median Income (AMI) limits, which are provided by the North Carolina Housing Finance Agency.
Alderbrook Pointe offers one, two, and three bedroom apartment homes featuring a fully-equipped kitchen, walk-in closets, washer and dryer connections, mini blinds, and a private patio or balcony with an outside storage closet.
The community offers a variety of amenities that include a community room with kitchenette, playground, business center, fitness center, gazebo, covered picnic area with grills, laundry facility, on-site management and maintenance, and 24-hour emergency maintenance.
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
4201 Congress St. Suite 200 Charlotte, NC 28209
charlotte office
800 W. Main St.
Suite 1410
Boise, ID 83702
BOISE OFFICE
Senior Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
ID License: #SP42885
Jordan Skyles
Senior Director Multifamily 843.628.3766 blake.coffey@berkadia.com
NC License #93629
Blake Coffey
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
ID License: #DB36794
Jeff Irish
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Associate Director 817.821.9559 jack.leonhard@berkadia.com
Jack Leonhard
The Opportunity
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Managing Director Multifamily 314.607.3481 caleb.troop@berkadia.com
NC License #292175
CALEB TROOP
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Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
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Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Director Affordable Housing
425.761.1640 mike.terry@berkadia.com
MT License #89005
MIKE TERRY
Associate Director Multifamily
919.812.3174 matthew.robertson@berkadia.com
NC License #34695
Matt Robertson