Belveron-Conifer was also recognized for the breadth of its development and acquisition activity in 2023
NEW YORK, July 1, 2024 /PRNewswire/ — Belveron Partners, a privately-held investment firm focused on the creation, preservation and revitalization of affordable and workforce housing throughout the United States, in partnership with its affiliate company Conifer Realty, LLC, has been named the sixth largest owner of affordable housing in the nation by Affordable Housing Finance Magazine (AHF) for 2023. With a controlling interest in 26,175 apartment homes with rents at or below 80 percent area median income (AMI) across 272 properties nationwide, this marks Belveron-Conifer’s third year in a row appearing on the definitive “Top 50” list for the affordable housing industry.*
Together, Belveron and Conifer also rank number #25 on AHF’s Top 50 Developers List and #5 in terms of the Top Companies Completing Acquisitions, with 1,977 affordable units acquired in 2023.
In 2023, Belveron expanded its footprint in Southern California with the acquisition of five Section 8 multifamily properties totaling 300 units for approximately $105 million. Belveron immediately worked with the Department of Housing and Urban Development (HUD) to extend affordability at two of the properties (Presidio Park Apartments in Santa Barbara and Pacific Terrace Apartments in Orange County) for an additional 20 years and plans to preserve the remainer of the portfolio for the long-term.
Over the past four years, Belveron has acquired more than 6,000 units of multifamily housing units in high-opportunity urban areas, representing nearly $2 billion in transactions. By partnering with state and local housing agencies, the firm has focused on creating affordability restrictions where they did not exist previously. This effort that has resulted in more than 3,000 market-rate homes being brought into regulation to serve lower and middle-income families.
In 2020, Belveron Partners became the lead investor in Conifer Realty, a full-service real estate company that specializes in the development, construction, property management and ownership of high-quality, affordable housing communities. Together, Belveron and Conifer are committed to providing solutions to the nation’s housing crisis and creating communities of enduring value in partnership with public agencies and purpose-driven partners.
*AHF’s ranking is based on total units owned and is gathered from self-reported and unaudited information from affordable housing providers, including Belveron. There can be no assurances that the ranking takes into account all providers of low-income housing.
About Belveron Partners
Since 2006, Belveron Partners has made meaningful investments to preserve, revitalize and create affordable and workforce housing throughout the United States. As a double-bottom line company, Belveron is focused on creating communities of enduring value in partnership with the nation’s housing agencies and purpose-driven partners in both the private and nonprofit sector. To learn more about our work, visit: belveron.com.
SOURCE Belveron Partners
