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
76,940
RENTABLE AREA
2023
YOC
100
UNITS
Investment highlights
Tremendous rental upside as the gross rental limits are projected to increase by 9.16% in 2025 with another 9.52% of embedded growth for future years
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Very stable operations as the property is operating at a $800+ discount to comparable market rate property, resulting in a vacancy rate of below 1.5% in 2024
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The property is believed to be eligible for a property tax exemption starting in 2026 under Florida Statute 196.1978(2)
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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 attached to the parking garage
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Potential to assume the very attractive existing Surtax Loan through Miami-Dade County and SAIL Loan through FHFC with both loans being interest-free
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96%
OCCUPIED
Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
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GALLERY
GALLERY
2011
Placed in Service
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495 NW 71st St. - Miami, FL 33150
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PROPERTY OVERVIEW
Village Carver II is a 100-unit affordable housing community for seniors located in Miami, FL. The property is conveniently situated minutes from major retailers, including Target, Publix, and Trader Joe’s. Numerous restaurants, outdoor recreation, schools, healthcare facilities, and major transportation arteries are nearby as well.
The property was built and placed in service in 2011 under the Tax Credit Exchange Program (TCEP). There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 33% & 60% of the Area Median Income (AMI) limits, which are provided by the Florida Housing Finance Corporation.
Village Carver II features 90 one and two bedroom units located in the 8 story tower and 10 three bedroom townhomes units attached to the parking garage. Units feature air conditioning, garbage disposals, microwaves, dishwashers, patios/balconies, and washer/dryer connections. Community amenities include a clubhouse, business center, fitness center, laundry facility, elevators, and car wash.
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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/.
1111 Brickell Ave. Suite 1650 Miami, FL 33131
miami 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 Managing Director
Multifamily
561.609.4001 jaret.turkell@berkadia.com FL License: #BK3114894
Jaret Turkell
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
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
The Opportunity
The Asset
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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.
Associate Director Affordable Housing
253.355.1521 sam.kasteler@berkadia.com UT License #14126557-SA00
Sam Kasteler
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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
5
Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
Multifamily
305.975.5956 roberto.pesant@berkadia.com FL License: #SL3255846
Roberto Pesant