SOURCE: National Tax Credit Property Advisors

December 04, 2006 11:00 ET

Marcus & Millichap National Tax Credit Property Advisors Speeds Past 100th Deal

Recent 13 Million Dollar Deal Accents Landmark Achievement

SEATTLE, WA -- (MARKET WIRE) -- December 4, 2006 -- Marcus & Millichap National Tax Credit Property Advisors (NTCPA), the leading real estate brokerage team focused exclusively on Section 42 Low Income Housing Tax Credit (LIHTC) properties nationwide, announces its 100th closing. Since pioneering the tax credit property brokerage market in 2001, NTCPA closed more than $615 million in real estate volume in 23 states. Under the platform of Marcus & Millichap and its National Multi Housing Group (NMHG), NTCPA is able to quickly and efficiently value and market tax credit properties to deliver maximum returns for clients.

The recent sale of the Westlake/Maple Crossing Apartments in Maple Valley, Washington is especially indicative of NTCPA's expertise and diligence to make a market for tax credit properties. The 172-unit asset, located about 20 minutes south of Seattle, sold in four weeks to Seattle-based Investors Capital Group. Marketing packages were sent out to 57 qualified buyers and 11 offers were generated.

"Westlake/Maple Crossing is a great example of how NTCPA creates a market for tax credit assets by producing multiple competitive offers," said Armand Tiberio, a Director at NTCPA. "Our intensity and experience ensures that our clients' assets are well positioned and represented throughout the process. This, combined with our ability to effectively tap into a broad buyer pool, is what makes us so successful."

"NTCPA's expert staff and effective marketing platform make a great combination," said Howard Heitner of SunAmerica Affordable Housing Partners. "Within a few weeks, we had several competitive and qualified offers for our property. The winning bid was significantly above what we were expecting to receive. Besides being excellent brokers, NTCPA makes the process easy by thoroughly understanding the intricacies of selling and operating properties that are still subject to tax credit requirements."

About Marcus & Millichap National Tax Credit Property Advisors

NTCPA pioneered the market for selling Section 42 Low Income Housing Tax Credit (LIHTC) assets in 2001, and is the leading real estate brokerage team focused exclusively on LIHTC properties. Its principals carry more than 17 years of collective experience in brokering tax credit properties. Leveraging the national platform of Marcus & Millichap Real Estate Investment Brokerage Company, NTCPA has access to more than 500 multi-family real estate investment specialists and can utilize their local expertise to quickly and efficiently evaluate the desirability, marketability and value of tax credit properties. NTCPA prides itself on its proven hands-on approach, generating multiple competitive offers from its connection to more than 5,000 qualified investors. Since 2001, NTCPA closed more than 100 transactions in 23 states valued at more than $615 million.

Contact Information

  • Press Contact:
    Peter Olson
    UpRoar for NTCPA
    206-447-5574
    Email Contact

    Company Contact:
    Robert Sheppard
    NTCPA
    206-826-5700
    Email Contact