IRVINE, Calif., Sept. 07, 2022 (GLOBE NEWSWIRE) — Preservation Equity Fund Advisors, LLC (PEF Advisors), an actual property non-public fairness group centered on preserving current inexpensive housing in high-cost markets, introduced its latest acquisition of Reflections Senior and Woodbridge Senior Apartments in Fort Collins, Larimer County, Colo., two inexpensive housing communities situated in a market with a excessive value of dwelling.
Reflections Senior and Woodbridge Senior are situated roughly one hour north of Denver and embrace a mixed 122 models of inexpensive housing for seniors. The initiatives are situated inside 5 miles of one another and might be operated along with a mixed employees. Reflections Senior contains 5, two-story, garden-style buildings with a unit mixture of 48 one-bedroom models and 24 two-bedroom models. Woodbridge Senior is one three-story constructing with a unit mixture of 40 one-bedroom models and 10 two-bedroom models.
Reflections Senior’s facilities embrace a clubhouse, swimming pool, strolling paths, on-site laundry facility and patio/balconies. Woodbridge Senior’s contains a clubhouse, safe managed entry, elevator, on-site laundry facility and patio/balconies.
Affordability restrictions throughout each properties will restrict residents to households at 42% of AMI.
“Millions of American families, senior citizens and veterans cannot find housing they can afford,” mentioned Rich Bennion, senior vp capital markets at PEF Advisors. “The sustained demand and reduction in supply of affordable housing is a serious issue PEF Advisors is addressing through its preservation investment strategy.”
About Preservation Equity Fund Advisors, LLC
Since 2017, Preservation Equity Fund Advisors, LLC (PEF Advisors) has centered on buying and preserving current inexpensive housing in high-cost markets by means of non-public fairness funding. PEF Advisors is an affiliate of the WNC & Associates, Inc. (WNC) household of firms with entry to WNC’s greater than 50 years’ expertise in buying greater than 1,650 properties representing $13.7 billion in inexpensive housing nationwide, together with by means of tax credit score and/or preservation fairness methods.
