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
33,000
RENTABLE AREA
2023
YOC
40
UNITS
Investment highlights
LIHTC Property for Seniors Ages 55+ with a vacancy rate below 1%
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Excellent Income Growth seen in Stark County with the HUD Median Family Income averaging annual increases of 5.38% between 2020 and 2024
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The LIHTC Restrictions are set to expire at the end of 2038, allowing for a conversion to market at that time
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Strong rental upside as the property is currently operating at an 8.5% loss to lease to the 2024 max net allowable rents
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xxx
6
96%
OCCUPIED
xxx
5
GALLERY
GALLERY
2009
Placed in Service
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515 5th St. NW - Canton, OH 44703
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PROPERTY OVERVIEW
Wilson Pointe is a 40-unit affordable housing community for seniors ages 55 and older, located in Canton, OH. The property is conveniently situated minutes from major retailers, dining, outdoor recreation, healthcare, pharmacies, and major transportation arteries.
The property was built and placed in service in 2009 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 35%, 50%, and 60% of the Area Median Income (AMI) limits, which are provided by the Ohio Housing Finance Agency.
Wilson Pointe offers one and two bedroom apartment homes featuring fully equipped kitchens with abundant cabinet space, a coat closet, pantry, linen closet, window coverings, Energy Star Certification, handicap accessible*, and off-street parking. Community amenities include a community room with kitchenette, elevator, controlled access, laundry facilities on each floor, a business center, resident library, outdoor patio, planned activities and social events, and professional on-site management.
*Select units.
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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/.
127 Public Sq. Suite 1440 Cleveland, OH 44114
CELVELAND OFFICE
800 W. Main St.
Suite 1410
Boise, ID 83702
BOISE OFFICE
Director Affordable Housing
425.761.1640 mike.terry@berkadia.com
MT License #89005
Mike Terry
Director Multifamily 303.689.8320 nate.moyer@berkadia.com
CO License #FA.100077890
nate moyer
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
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.
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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
Managing Director
Multifamily 440.708-6302 rob.starrett@berkadia.com
OH License # BRKA.2023000830
Rob Starrett
