Affordable Housing Investment Brokerage Inc. announced the sale of an affordable seniors housing community in Rockford, Illinois. Built in 1979, Valkommen Plaza comprises 171 units and stands nine stories tall just south of the Wisconsin border. The property has recently received a number of upgrades, including a roof replacement, new elevators, a new transformer and central air handlers. A number of unit kitchens and baths have also been updated.
A private investor sold the community to Envolve Communities for $21.1 million, or $123,000 per unit. Affordable Housing Investment Brokerage’s Kyle Shoemaker represented both parties in the transaction.
