Massachusetts Affordable Housing Platform

Property Summary

Type: Affordable multi-family
Size: 17,000 apartments in 120 assets, investment in additional 16,000 apartments
Location: U.S. Northeast & Mid-Atlantic

Acquisition Summary

Source: Off-market
Investment: $34.0 million
Ownership: Equity interest

Transaction Overview

Equity Resource Fund 2018 (F2018) invested $34.0 million of equity to acquire an interest in a vertically integrated owner, developer and manager of affordable and conventional multi-family communities (the “Company”). This transaction allows F2018 to invest in a growing operation with substantial experience in acquiring, developing, and managing approximately 17,000 apartment units of affordable, market rate, and mixed-income housing. The Company’s developments range from new construction, to historic adaptive reuse, to the renovation of existing housing.