LIHC Investment Group named one of Affordable Housing Finance’s Top Companies Completing Acquisitions in 2019
LIHC takes the No. 10 spot with the acquisition of 1,814 affordable housing units last year
Portland, Maine (May 6, 2020)— For the third year in a row, LIHC Investment Group has been recognized in Affordable Housing Finance’s annual list of leaders in the affordable housing industry.
Having acquired 1,814 affordable units in 2019, LIHC now ranks 10th among the Top Companies Completing Acquisitions in 2019 and moved up seven spots on Affordable Housing Finance’s list of the Top 50 Affordable Housing Owners—where it now ranks 12th nationally. LIHC reported owning 15,494 affordable units for residents earning no more than 80 percent area median income (AMI) across 65 projects for the year.
Adding to its successful track record of preserving at-risk properties in strong markets, LIHC added significantly to its portfolio in New York City and Boston in 2019. Most notably, the company completed the purchase of Bronx Park, a massive, eight-building Mitchell-Lama portfolio with 1,275 residential units and 10 commercial spaces. LIHC also assumed ownership of Carter Heights, a 108-unit property in Chelsea located just minutes from Boston Logan International Airport.
On the preservation front, LIHC was recognized by the City of Boston for its work to preserve Concord Houses— a 181-unit income-restricted building in the city’s South End neighborhood, which was in jeopardy of losing its affordable status.
Founded 25 years ago by Charlie and Andrew Gendron, LIHC Investment Group is one of the most respected real estate investment groups in the country. Since its inception, LIHC has transacted with over 4,000 Limited and General Partners to acquire more than 35,000 units of affordable housing. LIHC is unique in its expertise in tax consequences and partnership law, and has extensive experience in HUD regulated programs and the regulations of numerous state housing finance agencies and municipal areas.
Affordable Housing Finance, published by Hanley Wood, is the only national publication serving owners, developers, managers, and investors involved in the production and preservation of affordable housing.
The full survey can be found here.View All News