Standard makes $38M bet senior housing in Atlantic City
Share In its first acquisition in New Jersey, Standard Communities, the affordable housing division of Standard Companies, has acquired Baltic Plaza Apartments, a 169-unit affordable senior community in Atlantic City. The total capitalization of this transaction is approximately $38 million. Built in 1982 and located at 1313 Baltic Avenue in Atlantic City, Baltic Plaza’s units are supported by a Project-Based Section 8 Housing Assisted Payment (HAP) contract. Standard Communities completed this transaction in partnership with the U.S. Department of Housing and Urban Development (HUD) ...
Source: rew-online.com