Standard Communities Expands Affordable Housing Portfolio in $1B Deal

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.

Standard Communities has committed to investing over $30 million in capital improvements and deferred maintenance across the portfolio. This investment aims to ensure the communities remain affordable and resilient for years to come, without displacing any residents.

To preserve long-term affordability, Standard led public-private partnerships with multiple government agencies, including HUD, Fannie Mae, Freddie Mac, state governments in Arizona, California, Colorado, and Texas, and several local housing authorities. These partnerships utilize various federal, state, and local programs, including Low Income Housing Tax Credits, to maintain affordability across the portfolio.