INVESTMENT OFFERING
SAB Capital is pleased to present the Arkansas HAP Portfolio, a pair of family-designated apartment communities located across southwestern Arkansas. The portfolio consists of 232 units, with 100% of the units covered by Project Based Section 8 subsidy contracts renewed under Option 2.
Smith-Keys Village, located in Texarkana, AR, offers 128 units built in 1969, with its Section 8 contract renewed on September 1, 2022, and extended until August 31, 2027. Hay-good Neal Garden, located in El Dorado, AR, comprises 104 units built in 1975, with its Section 8 contract renewed on September 1, 2022 and extended until August 31, 2027. The two properties are situated 85 miles apart and must be sold together.
The properties were constructed using concrete slab foundations, brick exteriors, and pitched roofs. The properties are located on oversized parcels, encompassing 12.5 acres in El Dorado and 11.98 acres in Texarkana.
- Arkansas HAP Portfolio in Arkansas | Located Approximately 85 Miles Apart
- 232 Units Across Two Properties | 100% of Units Covered by Project Based Section 8 Subsidy Contracts
- Located Within Qualified Census Tracts (QCT)| Eligible For 30% Basis Boost
- Great Candidate for 4% Preservation Deal | Rents 30% Below Market and in Need of Significant Rehabilitation
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Arkansas HAP Portfolio | $ | % | 199,237 | Under Contract |
