The Foundation is pleased to announce that we have officially closed an outstanding 12 property portfolio located in North Carolina and Missouri, enabling us to continue our mission to provide affordable housing on a national scale. This portfolio consists of nine properties in North Carolina and three properties in Missouri, totaling 1,119 Project Based Section 8 rental units. The acquisition was financed using 501(c)(3) bonds issued by Public Finance Authority and underwritten by Stifel, Nicolaus & Company, and GHC Housing Partners invested in the subordinate bonds. The total amount of bonds issued exceeded $63 Million. We are thrilled that PK Management will serve as our onsite property management company. PK is one of the largest and most respected managers of Section 8 housing and will provide the care and expertise our residents deserve. Congratulations to all who were involved with this project, and we look forward to expanding our portfolio further in the eastern portion of our country. Please continue to check our properties page for more information about these great communities.
Read more about this exciting news via an article in The Greater Wilmington Business Journal- http://www.wilmingtonbiz.com/real_estate_-_residential/2015/12/22/market_north_apartments_sells_for_147_million_to_california-based_foundation/14205