JACK leonhard
Associate Director
817.821.9559
jack.leonhard@berkadia.com
Contacts and Office Locations
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/.
Mortgage Bankers
BOISE OFFICE
800 W. Main St.
Suite 1410
Boise, ID 83702
1615 9th Ct. - Hood River, OR 97031
48 Units | PIS 2011
1585 9th Ct. - Hood River, OR 97031
56 Units | PIS 2004
6555 Longshore St.
Suite 280
Dublin, OH 43017
COLUMBUS OFFICE
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Indian Creek Court has a HAP Contract covering all 48 units with the ability to either have a Mark-Up-To-Market in 2026 or potentially renew the Contract under Option 1b
Indian Creek Village consists of 56 units and operates under USDA RD 515 Loan Agreements allowing for management scale alongside Indian Creek Court with very little additional equity required
The Hood River HUD Fair Market Rents have experienced incredible growth with the 2 Bedroom FMR more than doubling since 2018, increase from $852 to $1,824
Hood River has experienced fantastic income growth as evidenced by the HUD 4-Person Median Family Income increasing from $71,700 in 2020 to $104,200 in 2024
Strong potential upside at Indian Creek Village following the maturity of the RD Loans in 2034 along with the expiration of the LIHTC Restrictions at the end of that year
INVESTMENT HIGHLIGHTS
INVESTMENT SALES
Bang Realty
513.898.1551
bor@bangrealty.com
Brian Brockman
Photo Gallery
Investment Highlights
Property Overview
Doc Center
Privacy
Contact
Terms of Use
Terms of Use
Privacy
Contact
Doc Center
Photo Gallery
Property Overview
Indian Creek Village was built in 1977 and rehabbed and placed in service in 2004 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 60% of the Area Median Income (AMI) limits, which are provided by the Oregon Housing and Community Services.
The property was financed by USDA Rural Development under Section 515. The existing RD loans mature in 2034 and will need to be assumed by a buyer. The loans have Interest Credit and Rental Assistance Agreements that effectively lower the interest rate to 2.5%. The is a maximum return to owner that is restricted to 8% of the initial equity investment of $187,500, which is $15,000.
Indian Creek Village offers one, two, and three bedroom apartment homes featuring a covered patio, fully equipped kitchens, and extra storage. Community amenities include a basketball court, community garden, on-site laundry facility, playground, and picnic areas.
PROPERTY OVERVIEW
Photo GALLERY
Indian Creek Village
Indian Creek Court
Investment Highlights
Senior Director
Affordable Housing
ID License #SP42885
208.631.4981
jordan.skyles@berkadia.com
Jordan Skyles
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Indian Creek Court was built in 1977 and rehabbed and placed in service in 2011 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 60% of the Area Median Income (AMI) limits, which are provided by the Oregon Housing and Community Services.
Additionally, the property is also a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract provides assistance for all units.
Indian Creek Court offers one, two, and three bedroom apartment homes featuring a covered patio, fully equipped kitchens, and extra storage. Community amenities include a basketball court, community garden, on-site laundry facility, playground, and picnic areas.
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
tim leonhard
Senior Financial Analyst
Affordable Housing
WA License 22027158
206.512.5567
ryley.lewis@berkadia.com
RYLEY LEWIS
IN COOPERATION WITH
Bang Realty
513.898.1551
bor@bangrealty.com
Brian Brockman
Associate Director
Affordable Housing
UT License #14126557-SA00
253.355.1521
sam.kasteler@berkadia.com
Sam Kasteler