Belveron-Conifer was also recognized for the
breadth of its development and acquisition activity in 2023
NEW
YORK, July 1, 2024 /PRNewswire/ -- Belveron
Partners, a privately-held investment firm focused on the creation,
preservation and revitalization of affordable and workforce housing
throughout the United States, in
partnership with its affiliate company Conifer Realty, LLC, has
been named the sixth largest owner of affordable housing in the
nation by Affordable Housing Finance Magazine (AHF) for 2023. With
a controlling interest in 26,175 apartment homes with rents at or
below 80 percent area median income (AMI) across 272 properties
nationwide, this marks Belveron-Conifer's third year in a row
appearing on the definitive "Top 50" list for the affordable
housing industry.*
Together, Belveron and Conifer also rank number #25 on
AHF's Top 50 Developers List and #5 in terms of the Top
Companies Completing Acquisitions, with 1,977 affordable units
acquired in 2023.
In 2023, Belveron expanded its footprint in Southern California with the acquisition of
five Section 8 multifamily properties totaling 300 units for
approximately $105 million. Belveron
immediately worked with the Department of Housing and Urban
Development (HUD) to extend affordability at two of the properties
(Presidio Park Apartments in Santa
Barbara and Pacific Terrace Apartments in
Orange County) for an additional
20 years and plans to preserve the remainer of the portfolio for
the long-term.
Over the past four years, Belveron has acquired more than 6,000
units of multifamily housing units in high-opportunity urban areas,
representing nearly $2 billion in
transactions. By partnering with state and local housing agencies,
the firm has focused on creating affordability restrictions where
they did not exist previously. This effort that has resulted in
more than 3,000 market-rate homes being brought into regulation to
serve lower and middle-income families.
In 2020, Belveron Partners became the lead investor in Conifer
Realty, a full-service real estate company that specializes in the
development, construction, property management and ownership of
high-quality, affordable housing communities. Together, Belveron
and Conifer are committed to providing solutions to the nation's
housing crisis and creating communities of enduring value in
partnership with public agencies and purpose-driven partners.
*AHF's ranking is based on total units owned and is gathered
from self-reported and unaudited information from affordable
housing providers, including Belveron. There can be no assurances
that the ranking takes into account all providers of low-income
housing.
About Belveron Partners
Since 2006, Belveron Partners
has made meaningful investments to preserve, revitalize and create
affordable and workforce housing throughout the United States. As a double-bottom line
company, Belveron is focused on creating communities of enduring
value in partnership with the nation's housing agencies and
purpose-driven partners in both the private and nonprofit sector.
To learn more about our work, visit: belveron.com.
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SOURCE Belveron Partners