Harmony Housing buys 3 more Texas multifamily properties

by   CIJ USA
2017-07-21   16:50
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The non-profit organization, Harmony Housing, has purchased a collection of three multifamily properties in Texas. Totaling 862 units, the three properties are Limestone Canyon and Parkside Crossing in Austin, and Sendero Ridge in San Antonio. All three properties will remain as affordable housing on a permanent basis. With this investment, Harmony now owns over 5,000 affordable housing units across the country. Will Balthrope, Executive Managing Director with Institutional Property Advisors, (IPA), and Jennifer Campbell, Associate Director, arranged the sale. Harmony Housing was originally founded as part of the ongoing philanthropic efforts of Stephen Rosenberg, founder of Greystone & Co., a real estate lending, investment and advisory company.

“This acquisition marks a significant addition to our portfolio of affordable housing by increasing the number of preserved units by 20%. We are thrilled for the opportunity to positively impact the lives of thousands by maintaining this critical housing, and will continue on our mission to permanently preserve as much housing as possible,” said Bob Barolak, President, Harmony Housing.