Rent-restricted (including LIHTC), subsidized Section 8, and GP interest transactions. Colorado and Wyoming, since 2016. Member of the Colliers national affordable housing practice.
CO Multifamily Advisors has served as listing broker in rent-restricted sales (including Section 42 LIHTC and deed-restricted properties), project-based Section 8 dispositions, and GP interest transfers across Colorado and Wyoming. Affordable housing sales require a broker who understands LURA restrictions, HAP contract transfer requirements, HUD loan assumption processes, and the specialized buyer pool that acquires regulated assets. We have executed these transactions across multiple credit cycles and property types, from workforce housing to senior LIHTC to Section 8 high-rises.
Our closed affordable transaction history includes the $81.85M Lake Creek Village sale in Edwards — the largest affordable housing sale in Colorado history. Total closed volume across all affordable transaction types exceeds $325M across 13 transactions. CO Multifamily Advisors is a member of the Colliers national affordable housing practice, providing access to a national buyer network of LIHTC developers, syndicators, nonprofits, and housing authorities.
Rent-restricted properties carry covenants or regulatory agreements that cap rents for income-qualified residents, regardless of how the restriction was created. The two most common structures in Colorado are Section 42 LIHTC and deed-restricted properties operating without tax credits. Both require a buyer qualified to operate under the applicable restrictions and draw from a specialized buyer pool distinct from conventional apartment acquirers.
Low-Income Housing Tax Credit properties are financed with federal tax credits allocated by CHFA in Colorado. Owners include individual investors, nonprofit developers, and institutional equity syndicators. The end of the Initial Compliance Period (Year 15) and the end of the Extended Use Period are the most common exit events, though mid-cycle transactions occur when partnership or investor objectives shift. Sales that occur before the end of the Initial Compliance Period are typically structured as GP interest transfers rather than fee-simple property sales; CO Multifamily Advisors facilitates those transactions as well. CO Multifamily Advisors has closed LIHTC transactions across Colorado and Wyoming, including multiple HUD loan assumption sales. Notable closings include Columbine Village (Arvada, 232 units, $44.75M, 2023) and View at North Peak (Northglenn, 288 units, $38.0M, 2020).
Deed-restricted properties carry affordability covenants recorded against the title, imposed by a housing authority, municipality, or public agency, without a Section 42 tax credit structure. Because there is no LP/GP partnership and no compliance period, the transactional mechanics are simpler, but covenant terms, restricted buyer pools, and applicable right-of-first-refusal requirements still demand specialized handling. Our largest closed transaction, Lake Creek Village (Edwards, 270 units, $81.85M, 2022), was a deed-restricted disposition by the Eagle County Housing Authority and remains the largest affordable housing sale in Colorado history.
Project-based Housing Assistance Payments (HAP) contracts are long-term agreements with HUD under which the federal government subsidizes rents for income-qualified residents. The HAP contract is a significant asset: it provides stable, government-backed revenue that conventional market-rate properties cannot access. HAP contracts transfer to a qualified buyer as part of the property sale, subject to HUD and PBCA approval. CO Multifamily Advisors has closed four project-based Section 8 transactions in Colorado, including Columbine Towers (Denver, 170 units, $34M, 2024) and Windsor Court (Aurora, 143 units, $29.3M, 2022).
Most LIHTC properties are owned through limited partnerships in which the general partner (GP) manages the asset and a limited partner (LP) — typically a tax credit syndicator or institutional equity investor — holds the tax credit equity. When the LP's tax credit benefits have been recognized, the LP may be willing to sell or transfer their interest, or the GP may wish to transfer their interest to a new operator or buyer. These transactions are structured as partnership interest transfers rather than fee-simple property sales, and pricing is typically determined through direct negotiation. In 2025, CO Multifamily Advisors executed a GP interest transfer at InnovAge Senior Housing (Thornton, 72 units).
Colorado's affordable housing market is shaped by federal programs, state financing infrastructure, and growing municipal investment. Understanding this landscape is essential to identifying the right buyer pool and timing a disposition effectively.
CO Multifamily Advisors is a member of the Colliers national affordable housing practice, which provides access to a nationwide network of LIHTC developers, equity syndicators, housing authorities, mission-driven nonprofits, and preservation-focused institutional buyers. Affordable housing is a national market: the buyers most active in Colorado LIHTC acquisitions frequently operate across multiple states and require a broker with national outreach capacity alongside Colorado-specific expertise.
The following transactions represent CO Multifamily Advisors' completed affordable housing dispositions across rent-restricted, project-based Section 8, and GP interest sales in Colorado and Wyoming since 2016.
Full transaction history available at comultifamily.com/track-record/.
If you own an affordable housing property in Colorado and are considering a sale, equity transfer, or preservation transaction, contact CO Multifamily Advisors for a confidential consultation. We work with individual owners, nonprofit operators, syndicators, and housing authorities across all affordable transaction types.