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WOODLAND HILLS, Calif., May 11, 2021 /PRNewswire/ Alliant Strategic Investments (ASI), an investment firm focused on socially responsible multifamily investments, has purchased Riverstone Apartments, an affordable housing community located in Bolingbrook, Illinois, a suburb Southwest of Chicago. The purchase, made in partnership with Nuveen Real Estate, one of the largest real estate investment managers in the world, closed at $93.5 million, with $60.825 million in acquisition financing provided by JLL Real Estate Capital.
ASI and Nuveen anticipate maintaining the affordability requirements of all the units during their ownership. The investment firms believe this property will continue to serve an important role in its community providing quality and affordable housing for those who need it a core tenet of their collective mandates.
CHICAGO, IL - JLL Capital Markets announced today it has closed the $93.5 million sale and arranged a $60.825 million acquisition financing for the Riverstone Apartments, an affordable housing community located in Bolingbrook, Illinois, a southwest Chicago suburb.
JLL represented the seller, Jackson Square Properties, to complete the sale to the buyers, Alliant Strategic Investments and Nuveen Real Estate. JLL also worked on behalf of Alliant Strategic Investments and Nuveen to secure the acquisition financing through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. The Buyer will maintain the affordability requirements on all units through 2036.
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President Biden has introduced a $2 trillion infrastructure plan that proposes a wide range of tax credits to incentivize investment in affordable housing, community development, and clean energy.
Recently, President Biden unveiled a $2 trillion proposal, titled The American Jobs Plan, to rebuild America s infrastructure and revitalize the economy. The plan broadly describes infrastructure and proposes the creation and expansion of a wide range of tax credits to incentivize investment in affordable housing, community development, and clean energy. The proposal leverages the public/private frameworks established by existing tax credit programs (i.e., those that have already successfully increased investment in affordable housing, low-income communities, historic rehabilitations, and renewable energy) to spur major new investment in infrastructure. This
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Christopher Ross Developers are hoping to break ground for Bristol’s Firehouse Apartments by the end of this year. The 20-unit neighborhood of mostly affordable housing will be located just east of the fire station on land that Evernorth (formerly Housing Vermont) and the Addison County Community Trust are purchasing from Bristol-based Stoney Hill Properties LLC.
Image courtesy Evernorth SAMANTHA DUNN, EVERNORTH KEVIN HARPER, STONEY HILL PROPERTIES
BRISTOL Someday in the not-too-distant future, a few dozen Bristol residents will likely include some version of the following phrase when directing people to their homes: “Turn at the firehouse.”