NEW YORK, May 13, 2015 (GLOBE NEWSWIRE) -- Harmony Housing, a non-profit organization that owns and acquires affordable multifamily housing in the U.S., today announced it has completed recent acquisitions of multifamily properties in Florida and Texas. Part of a growing portfolio of over 1,600 rental units accumulated in the last year, the properties will benefit from preservation as affordable housing on a permanent basis.
The properties Harmony Housing acquired in the last month include Cove at St. Lucie in Port St. Lucie, FL and Park Village in Conroe, TX. Together, these two affordable housing communities comprise almost 300 units. To date, Harmony Housing has added the following other properties to its portfolio across Florida, Kentucky and Texas:
- Park at Fallbrook in Houston, TX;
- Town Center in Sanford, FL (now known as The Overlook at Monroe);
- Pemberly Palms in Vero Beach, FL;
- Sabal Chase in Fort Pierce, FL;
- Commander Place in Orlando, FL; and
- Arbor Pointe in Louisville, KY (now known as The Pointe at Stoneybrook).
"The organization has had great success in seeking out apartment communities that – with already high occupancy and growing demand for affordable housing around the country – greatly benefit from Harmony Housing's investment and preservation," said Bob Barolak, President, Harmony Housing Advisors, Inc., which advises the non-profit on acquisitions. "We look forward to completing future acquisitions to continue Harmony Housing's mission of growing and sustaining safe, comfortable affordable housing around the country."
Harmony Housing's goal is to grow its affordable rental housing properties and provide safe, comfortable and affordable housing across the country. The organization's proceeds are ultimately reinvested into its property portfolio or distributed to the broader community through charitable giving, thus achieving the twin goals of transforming neighborhoods and helping people reach their full potential. Harmony Housing was originally founded as part of the ongoing philanthropic efforts of Stephen Rosenberg, founder of Greystone & Co., a real estate lending, investment and advisory company.
About Harmony Housing
Harmony Housing Advisors, Inc. provides consultative services to Harmony Housing, a 501(c)(3) formed to own and acquire multifamily affordable housing across the United States. Harmony Housing's mission is to provide and grow the availability of affordable housing to those in need around country. For more information visit www.HarmonyHousing.org.