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Hudson Valley Acquires 22 Multifamily Properties Across Western U.S.
Hudson Valley Property Group (HVPG), a national affordable housing preservation company, said Monday it had acquired a 22-property portfolio comprising 4,768 units across the western U.S. from Inland Group. The sale price was not disclosed.
The portfolio includes 13 properties in Washington, seven in Colorado, one in California and one in Idaho, and is concentrated significantly in the Denver, Seattle and Spokane metro areas. The properties are subject to low-income housing tax credit rent restrictions and tenants must be income-qualified.
HVPG acquired the portfolio in a joint venture partnership with Wheelock Street Capital, which provided the majority of the equity capital. Goldman Sachs served as financial advisor to Inland, and Newmark brokered the transaction.
“The acquisition of these properties represents a landmark achievement for our firm, expanding our reach to 87 communities with 15,414 units across the Northeast, Midwest, Mid-Atlantic, Southeast and West,” said Jason Bordainick, co-founder and managing partner of HVPG.
Pictured: Copper Mountain Apartments in Richland, WA.
- ◦Sale/Acquisition
