Friday, December 30, 2011

MAC Properties: Gets tax credit tax-exempt bond financing investment

MAC Properties LLC / Antheus secures financing to rehab midtown apartments has spent more than $100 million buying or restoring 20 historic buildings and hotels along Armour Boulevard. But the company says future investment in Kansas City could be threatened by proposed reforms to Missouri’s historic tax credit program.
MAC closed on its purchase of the Homestead and the Kenwood buildings in the 800 and 600 blocks of East Armour, respectively, in the fourth quarter. That brought its multifamily apartment stock in Kansas City to more than 2,000 units, saidEli Ungar, owner of MAC Properties, based in Englewood, N.J., and an affiliate of Antheus Capital.

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