IRVINE, Calif., Sept. 07, 2022 (GLOBE NEWSWIRE) — Preservation Equity Fund Advisors, LLC (PEF Advisors), a real estate private equity group focused on preserving affordable housing in high-price markets, announced the recent Acquired well-known Reflections Senior and Woodbridge Senior Apartments in Fort Collins, Larimer County, Colorado, two affordable residential communities in a high-cost-of-living market.
Reflections Sr. and Woodbridge Sr are located approximately one hour north of Denver and comprise a total of 122 affordable senior living units. The projects are within five miles of each other and are operated together by a combined staff. Reflections Senior comprises five two-story garden-style buildings with a mix of 48 one-bedroom and 24 two-bedroom units. Woodbridge Senior is a three story building with a mix of 40 one bedroom and 10 two bedroom units.
Reflections Senior amenities include a clubhouse, swimming pool, walking trails, onsite laundry and patio/balconies. Woodbridge Senior’s features a clubhouse, secure controlled access, elevator access, onsite laundry and patio/balconies.
Affordability constraints on both properties limit residents to households at 42% of the AMI.
“Millions of American families, seniors and veterans are unable to find housing they can afford,” said Rich Bennion, senior vice president of capital markets at PEF Advisors. “The continued demand and reduction in the supply of affordable housing is a serious issue that PEF Advisors is addressing with its conservation investment strategy.”
About Preservation Equity Fund Advisors, LLC
since 2017, Equity Preservation Fund Advisor, LLC (PEF Advisors) is focused on acquiring and maintaining affordable housing in high-priced markets through private equity financing. PEF Advisors is a subsidiary of the WNC & Associates, Inc. (WNC) family of companies with access to WNC’s more than 50 years of experience in…
