Real estate group doubles down on affordable housing in N.J.

A Maryland-based real estate finance company has acquired a $144 million loan to invest in seven affordable housing buildings in New Jersey.

Bethany Towers in Hazlet is one of seven buildings purchased by a group looking to invest in affordable housing in New Jersey. (Courtesy of Walker & Dunlop)

The loan was acquired from Fannie Mae and is a joint venture between Hudson Valley Property Group, Red Stone Companies and Wheelock Street Capital.

The acquisition is for seven buildings with 1,000 affordable housing units intended for low-income senior residents, the company that organized the deal, Walker & Dunlop of Bethesda, …read more

Source: Essex

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