[[{“value”:”
**Jonathan Rose Companies Acquires Boulder Affordable Housing for $56M**
Jonathan Rose Companies has acquired San Juan Del Centro Apartments, a 150-unit affordable housing community located in Boulder, Colorado, for $56 million.
Originally built in 1971, San Juan Del Centro serves families earning at or below 60% of the Area Median Income (AMI) through Project-Based Section 8 and Low-Income Housing Tax Credit (LIHTC) programs. As part of the acquisition, affordability protections for the property will be extended for an additional 20 years.
Jeff Irish and Jordan Skyles of Berkadia facilitated the sale and arranged acquisition financing for the transaction. The capital stack also included equity from the $660 million Rose Affordable Housing Preservation Fund VI.
The most recent renovation of the property was completed in 2007. Jonathan Rose Companies plans to initiate further improvements including upgrades to the community center. Winn Residential has been appointed as the new property manager.
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