Real estate firm BH Properties launched a new investment initiative to build a $1B affordable housing portfolio. BH Properties manages a 10 million sq. ft portfolio of over 2,000 multifamily units across 16 states. The initiative would focus on low-income housing tax credit, Section 8, and age-restricted or senior housing across the country. - BH Properties president, Jim Brooks, said the firm would look at assets with 100 or more units, typically following the expiration of the 15-year compliance period.
- The firm recruited William "Bill" Stoll, a veteran affordable housing executive, as managing director and in charge of leading the initiative.
- According to BH Properties, Stoll has completed over $6B in real estate transactions during his 14-year career.
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