The buyers' capital improvements will increase energy efficiency, reduce the carbon footprint, and enhance the resident services at Shore Hill. “We are excited about the opportunity to drive capital into this Brooklyn neighborhood, preserving a significant number of affordable units and improving the living standards of the residents in these buildings,” says Pamela West, senior director with Nuveen's impact investing team. The company plans to continue to invest in similar assets across the country.

Rose Community Management, an affiliate of Jonathan Rose Cos., will manage the property. The partnership between the Fund and NHPF increases the capacity to provide services to residents. Operation Pathways, NHPF's resident services affiliate will oversee the services. This includes the community center, onsite transportation and connecting residents to other local health, wellness and support services.

 “Partnering with Jonathan Rose Companies for the first time provides a tremendous opportunity for both of our organizations to showcase our strengths,” said NHPF president and CEO Dick Burns. “We look forward to working together with them on other successful co-ventures.”