REBusinessOnline

26,000-UNIT SIMPSON HOUSING SOLUTIONS PORTFOLIO SELLS

IRVINE, CALIF. — Avanath Capital Partners and MacFarlane Costa Housing Partners have acquired Simpson Housing Solutions (SHS) and its portfolio of 273 properties. The 26,000-unit portfolio consists of affordable rental apartments in 33 states, Washington D.C. and Puerto Rico, with more than half of the properties located in California. In the initial phase of the two-phase transaction, ownership of the former SHS portfolio will be jointly held by Avanath Affordable Capital, a wholly owned subsidiary of Irvine-based Avanath Capital Partners, and MacFarlane Costa Housing Partners (MCHP). MCHP is a newly formed joint venture between Michael Costa, the president of SHS, and MacFarlane Partners Affordable Housing, an affiliate of San Francisco-based MacFarlane Partners. To finance the acquisition, Avanath is conducting a fund offering for which real estate investment banking firm Presidio Partners is serving as the placement agent.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties