ROCKFORD — An Ohio-based investor in affordable housing communities has purchased the Auburn Manor Apartments, a privately held Section 8 rental property on the city’s west side.
Archer Lane Capital purchased the 107-unit apartment complex at 4212 Auburn St. on May 6 for $5.1 million, according to records from the Winnebago County Clerk and Recorder’s Office.
The company is based in Columbus, Ohio, and run by brothers Troy and Kent Rambo. They’re focused on investing in affordable housing in the eastern half of the United States. The roughly 2-year-old company owns seven properties with 427 apartments in Arkansas, South Carolina, Illinois and Tennessee. It has six other properties under contract…