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Paul Davis, the founder and CEO of Affordable Housing Advisors (AHA), pioneered the brokerage of affordable housing in 1987.

Following law and business school, Paul began his real estate career with a boutique brokerage company focused on the sale of market-rate apartments. Upon the creation of the Tax Reform Act of 1986 and Section 42 of the Internal Revenue Code, Paul instinctively identified an opportunity within the affordable housing sector and quickly shifted his focus to the brokerage of Section 8 properties. With his law background and sales experience, Paul founded AHA and established the first brokerage firm focused exclusively on affordable housing.

Paul‘s identification and study of industry trends and their dynamics quickly established him as the expert in this new field. Initially he focused on “older assisted” properties under HUD Enforcement, then on ELIHPA and LIHPRHA opportunities. In 1996, when the prepayment right was restored, he concentrated on the sale of HUD Section 236 and HUD Section 221(d)(3) properties and later HUD Section 221(d)(4) financed properties. AHA’s other areas of expertise include IRP Decoupling, Mark-to-Market properties and HUD Section 202. 

At the encouragement of several clients, Paul began his affiliation with Marcus & Millichap in 1998 to leverage his knowledge and focus of affordable housing sales on a national platform. Soon after his arrival, Paul procured the company’s largest multi-family exclusive listing: 89 HUD-insured Section 8 apartment complexes in 27 states and began building his AHA team. Presently, AHA is responsible for the sale of over 150,000 government subsidized housing units throughout the United States, valued at more than $5 billion.

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