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134 SW Arbour Cir. - Madison, FL 32340
PROPERTY Stats
72
UNITS
2007
Year Built
76,416
sF
PROPERTY OVERVIEW
The Arbours at Madison is a 72-unit affordable housing community located in Madison, FL. The property is conveniently located minutes from major retailers including Family Dollar and Winn-Dixie. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built and placed in service in 2007 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% and 60% of the Area Median Income (AMI) limits, which are provided by Florida Housing Finance Corporation.
The Arbours at Madison offers one, two, and three bedroom apartment homes featuring balconies, air conditioning, washer/dryers, ceiling fans, and additional storage. Community amenities include a club house with a business center, on-site management and maintenance, playground, grill and picnic area, swimming pool, and volleyball court.
The Property is Well Located within Close Proximity to North Florida College, Madison County High School, Madison County Central School, and the Madison County Recreation Complex
Madison County has Seen Excellent Income Growth Over Recent Years as Evidenced by the 30% Increase in the HUD Median Family Income from 2020 to 2023
The Property is Eligible for the National Non-Metropolitan Rent and Income Limits, which Increases Both the Maximum rental Limits, as well as the Prospective Tenant Pool that can Income Qualify at the Asset
Well-Performing Asset with an Occupancy Rate of 96.5% Over the Trailing-12 Months and Terrific Rental Upside as the 2023 Gross Rental Limits Increased by 5.89%
INVESTMENT HIGHLIGHTS
Jordan Skyles
Director of Operations
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
RYLEY LEWIS
Senior Financial Analyst
Affordable Housing
206.512.5567
ryley.lewis@berkadia.com
Jeff irish
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
BRANDON GRISHAM
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
Contacts and Office Locations
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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.
© 2023 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 Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
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BRANDON GRISHAM
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
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INVESTMENT ADVISORS
mike terry
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
814 Highway A1A N.
Suite 307
Ponte Vedra Beach, FL 32082
ponte vedra beach OFFICE
Senior Director
Multifamily
904.513.9347
greg.rainey@berkadia.com
Greg Rainey
814 Highway A1A N.
Suite 307
Ponte Vedra Beach, FL 32082
ponte vedra beach OFFICE
Senior Director
Multifamily
904.513.9347
greg.rainey@berkadia.com
Greg Rainey
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
MORTGAGE BANKERS
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
MORTGAGE BANKERS