Hunt Capital Partners (HCP) announced that it has transferred ownership of two low-income housing tax credit properties to housing authority partners and affiliates.
Officials said the move allows the housing authorities to continue to provide housing solutions for their residents.
Built in 2008, Retama Village features a mix of one-, two-, and three-bedroom units for 128 families earning up to 30% and 60% of the area median income (AMI) in McAllen, Texas. Ownership of the investor limited partner and special limited partner interests were transferred to an affiliate of the McAllen Housing Authority.
Guste I is an affordable and public housing community that represents the first phase of a HOPE VI redevelopment plan in New Orleans. The property was constructed in 2007 and provides a mix of 82 two- and three-bedroom garden and townhome options for households earning up to 60% of the AMI. The interest ownership was transferred to Housing Authority of New Orleans.
"We are pleased to have been able to transfer the ownership of these properties to the McAllen and New Orleans housing authorities,” said HCP president Jeff Weiss. "The transactions will allow the authorities to continue to provide affordable housing and services to their residents."
