The affordable housing investment venture co-founded by JBG Smith Properties (NYSE: JBGS) has raised $104 million and invested in its first project, the developer announced late Wednesday. The Washington Housing Initiative, as it's been dubbed, will loan $15.1 million to the nonprofit Alexandria Housing Development Corporation, which will use it to buy the Avana Alexandria Apartments. Once sold it will be renamed the Parkstone Apartments. Read More...
JBG Smith’s affordable housing endeavor collects $104 million, makes first loan
The affordable housing investment venture co-founded by JBG Smith Properties (NYSE: JBGS) has raised $104 million and invested in its first project, the developer announced late Wednesday. The Washington Housing Initiative, as it’s been dubbed, will loan $15.1 million to the nonprofit Alexandria Housing Development Corporation, which will use it to buy the Avana Alexandria Apartments. Once sold it will be renamed the Parkstone Apartments.
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