LIHC Investment Group Places 3rd on AHF’s List of Top 10 Companies Completing Substantial Rehabs in 2018
in: Affordable Housing Finance (AHF) Magazine
LIHC preserved 1,785 units 2018, with plans to complete another five projects in 2019
Portland, Maine (April 5, 2019)— For the second year in a row, LIHC Investment Group has been recognized in Affordable Housing Finance’s annual list of top companies in the affordable housing industry.
LIHC ranked 3rd among the top 10 companies completing substantial rehabs in 2018 and ranked 19th among the top 50 affordable housing owners nationwide. The firm reported owning 13,339 units for residents earning no more than 80 percent area median income (AMI) across 62 projects, predominately in high-cost cities like New York and Boston.
Adding to its successful track record of preserving at-risk properties in strong markets, LIHC acquired Article XI tax abatements for 669 units across six properties in Manhattan and Brooklyn in 2018. Additionally, the firm capped off a multi-year effort to preserve 446 units of affordable housing at one of East Harlem’s last Mitchell-Lama buildings, Lakeview Apartments.
Founded 25 years ago by Charlie and Andrew Gendron, LIHC Investment Group is one of the most respected real estate investment groups in the country. Since its inception, LIHC has transacted with over 4,000 Limited and General Partners to acquire more than 37,000 units of affordable housing. LIHC is unique in its expertise in tax consequences and partnership law, and has extensive experience in HUD regulated programs and the regulations of numerous state housing finance agencies and municipal areas.
Affordable Housing Finance, published by Hanley Wood, is the only national publication serving owners, developers, managers, and investors involved in the production and preservation of affordable housing.
The full survey can be found here.View All News