Jonathan Rose Companies Adds Englewood Gardens to Chicago Affordable Portfolio
Jonathan Rose Companies has acquired Englewood Gardens, the 11th deal to close into the Rose Affordable Housing Preservation Fund V. Englewood Gardens is a 13-building, 167-unit, family-designated scattered-site Section 8 property located in Chicago’s Englewood neighborhood.
In this latest Chicago acquisition of buildings in a portfolio formerly owned by Chicago Community Development Corporation, the fund partnered with a local developers Deonna and Steve Thomas of 5T Management to acquire the property for $10.7 million, with 5T assuming management of the properties. The acquisition was financed by assumed loans from Freddie Mac and the City of Chicago’s Department of Housing.
“We are thrilled about the opportunity to partner with 5T and preserve affordable housing in a neighborhood that has suffered for years of chronic disinvestment, while also enriching the surrounding communities with social services,” said Nathan D. Taft, partner and senior managing director at Jonathan Rose Companies.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).