Description

The Louisiana Rural LIHTC Portfolio consists of two stabilized affordable housing communities—Moss Oaks (46 units in New Iberia) and Homes at Willow Villas (44 units in Hammond)—totaling 90 units across supply-constrained rural markets. Featuring single-family-style three- and four-bedroom homes, the portfolio benefits from strong occupancy and resident retention, currently operating at 100% occupancy and generating $358,312 in NOI at a 7.46% in-place cap rate. Both assets are within the LIHTC Extended Use period under Section 42, offering long-term regulatory stability and a clear path for rent growth, with current rents below maximum allowable levels, enabling NOI upside through mark-to-max increases without market speculation or lease-up risk. The local economies in New Iberia and Hammond are supported by key drivers such as energy, agriculture, tourism, Southeastern Louisiana University, and North Oaks Medical Center, contributing to consistent demand for affordable housing and supporting long-term income stability.