We made it to #4 as top buyer in affordable housing for year 2017
Feb 25, 2019Top 10 Companies Completing Acquisitions in 2017
AFFORDABLE HOUSING FINANCE
Jonathan Rose Cos. tops the list with the acquisition of 8,777 units.
| RANK (VS. 2016) |
Company Info | Executive Contact | Affordable Housing Units Acquired in 2017 | Regions | Org Type |
|---|---|---|---|---|---|
| 1 (10) | JONATHAN ROSE COS.551 Fifth Ave., Suite 23; New York, NY 10176 (917) 542-3600 website | Nathan Taft, managing director, acquisitions | 8,777 | MW, NE, SE, W | For-profit |
| With the purchase of Forest City Realty Trust’s affordable housing business, including 48 properties in seven states, Jonathan Rose Cos. tops this year’s acquisitions list with 8,777 affordable housing units added to its portfolio in 2017. | |||||
| 2 (New) | ENTERPRISE HOMES875 Hollins St.; Baltimore, MD 21201 (410) 332-7400 | website | Chickie Grayson, president and CEO | 4,528 | NE, SE | Nonprofit |
| Enterprise Homes acquired a 43-property affordable housing portfolio with 4,153 units last year. | |||||
| 3 (1) | THE MILLENNIA COS.4000 Key Tower, 127 Public Square; Cleveland, OH 44114 (216) 520-1250 | website | Frank Sinito, CEO | 4,014 | MW, NE, SC, SE | For-profit |
| In 2018, Millennia plans to complete the acquisition and begin the preservation of a 38-property portfolio with approximately 4,500 units across eight states. | |||||
| 4 (3) | CAPITAL REALTY GROUP86 E. Route 59; Spring Valley, NY 10977 (845) 356-7773 | website | Moshe Eichler and Sam Horowitz, principals | 3,820 | National | For-profit |
| Capital Realty Group grew its portfolio by over 25% in 2017. | |||||
| 5 (New) | BEACON COMMUNITIES2 Center Plaza, Suite 700; Boston, MA 02108 (617) 574-1100 | website | Pamela Goodman, CEO | 3,700 | National | For-profit |
| The acquisition of National Development Corp. in 2017 represented a 50% increase in the size of Beacon’s portfolio. | |||||
| 6 (6) | DOMINIUM2905 Northwest Blvd., Suite 150; Plymouth, MN 55441 (763) 354-5500 | website | Paul Sween and Armand Brachman, managing partners | 2,984 | MW, SC, SE, W | For-profit |
| Dominium acquired nearly 3,000 affordable housing units in 16 developments last year and plans to acquire a similar amount this year. | |||||
| 7 (New) | LIHC INVESTMENT GROUP1 Portland Square; Portland, ME 04101 (207) 772-8800 | website | Marci Booth, CFO | 2,520 | National | For-profit |
| The firm acquired three general-partner interests totaling 2,520 units in 2017. | |||||
| 8 (New) | HUDSON VALLEY PROPERTY GROUP200 Vesey St., 24th Floor; New York, NY 10281 (917) 398-4100 | website | Jason Bordainick, managing partner and co-founder | 1,811 | NE, SE | For-profit |
| The firm is in the process of raising its first fund that will focus on the acquisition and preservation of affordable housing. | |||||
| 9 (4) | SECURITY PROPERTIES701 Fifth Ave., Suite 5700; Seattle, WA 98104 (206) 622-9900 | website | Bryon Gongaware, managing director | 1,736 | National | For-profit |
| The company plans to acquire $400 million worth of conventional properties and $150 million worth of affordable properties in 2018. | |||||
| 10 (New) | THE NHP FOUNDATION122 E. 42nd St., 49th Floor; New York, NY 10168 (646) 336-4940 | website | Thomas G. Vaccaro, senior vice president and corporate secretary | 1,642 | MW, NE, SC, SE | Nonprofit |
| The nonprofit acquired 1,642 units totaling $290 million and completed the redevelopment of 579 units totaling $81 million last year. | |||||
Source: http://www.housingfinance.com/management-operations/top-10-companies-completing-acquisitions-in-2017_o