Green Affordable Housing Firm More Than Doubles Portfolio While Building Communities of Opportunity; 2017 Acquisitions Vault the Company into Top Ten List of Affordable Housing Owners in the Nation
Affordable Housing Finance. With the purchase of Forest City Realty Trust’s Federally Assisted Housing Portfolio, including 48 properties in seven states, Jonathan Rose Companies topped this year’s acquisition list with 8,777 affordable housing units added to its portfolio in 2017.
Faircliff Plaza East in Washington, DC, one of the 48 affordable, multi-family properties in seven states totaling 8,777 units Jonathan Rose Companies acquired in 2017.
As oneofthelargest owners and operatorsofaffordablehousinginthecountry,with nearly 15,000units ownedin2017, the award-winningwork of Jonathan Rose Companies has been recognizedbytheUrbanLandInstitute,theU.S.DepartmentofHousing andUrbanDevelopment, and others. The growth of acquisitions last year, more than doubling the firm’s portfolio, also moved the company into the top ten affordable housing owners in the United States for the first time at #10.
“Our goal is to preserve affordable and mixed income housing, reduce energy use and climate impacts, and improving the lives of residents through building ‘Communities of Opportunity,’ while providing our investors with favorable risk-adjusted returns,’” said Jonathan F.P. Rose, president of Jonathan Rose Companies. “At a time when there is not a single county in the United States where someone working a full time minimum wage job can afford to rent a two-bedroom apartment providing, non- toxic, energy efficient, affordable housing as a stable base for families and seniors in high-demand locations with access to transit, jobs, schools, and retail, this is an important leverage point to increasing opportunity.”
Founded in 1989, Jonathan Rose Companies is one of the country’s leading investors and developers in sustainable, affordable and mixed-income multi-family real estate. Jonathan Rose Companies is a fully integrated real estate company with in-house acquisitions, development, construction management, and property management divisions overseeing projects totaling more than $2.5 billion of value.
Doing good work by preserving and developing affordable housing is also good business, according to Jonathan Rose Companies. “Building upon a stable income stream, affordable housing leverages low cost of capital, grants and incentives, and regulatory and financial restructuring to drive strong current returns and greater resiliency during economic downturns.” said Nathan Taft, Managing Director of Acquisitions for Jonathan Rose Companies.
About Jonathan Rose Companies:Jonathan Rose Companies is a seasoned real estate investment, development, and project management firm whose mission is to create “Communities of Opportunity.” The firm is nationally recognized for its ability to achieve visionary goals through practical, duplicable strategies. The firm acquires, develops, and manages transit-oriented, green, mixed-income residential, innovative office, civic, education, and health serving projects. Jonathan Rose Companies has developed or acquired more than $2.5 billion of real estate projects from its offices in New York, Connecticut, Colorado, California, and New Mexico. For more information, please visitwww.rosecompanies.com.
