November 27, 2013:
Dalcor purchases Reef Club Apartments, 560 units in Kissimmee, Florida. Affordable Housing Partners, a wholly owned subsidiary of Berkshire-Hathaway, provided the equity; Florida Housing Finance Corporation issued $28 million of collateralized multifamily mortgage revenue bonds with Oak Grove Capital (Fannie Mae) providing $30 million of permanent financing. RBC Capital Markets was the bond underwriter. Reef Club will be rehabilitated as a LIHTC community which is expected to be completed in the third quarter of 2014.