Standard Communities, a national affordable housing developer and investor, has purchased a 100% affordable housing portfolio valued at over $1 billion, encompassing more than 6,000 apartment homes across 60+ communities in four states.
This acquisition has increased Standard's national portfolio to nearly 27,000 apartment homes, providing stable housing for approximately 60,000 residents.
The transaction marks Standard's entry into three additional states—Arizona, Colorado, and Texas—while substantially growing its California portfolio to nearly 11,000 apartment homes. The newly acquired properties, which are home to over 13,000 residents, serve a mix of families and seniors. On average, these communities were built in 2002, with a majority developed by the seller.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
