NEW YORK, Dec. 05, 2016 (GLOBE NEWSWIRE) -- Harmony Housing, a non-profit organization that owns and acquires affordable housing in the U.S., today announced it has completed recent acquisitions of multifamily properties in Indiana and Texas. Part of a growing portfolio of over 4,000 rental units accumulated in the last three years, the properties will benefit from preservation as affordable housing on a permanent basis.
The properties Harmony Housing acquired in the last month include Parkview at Beech Grove in Indianapolis, IN and Villas at Costa Brava in San Antonio, TX. Together, these two affordable housing communities comprise 410 units.
“Harmony Housing’s mission to ensure the preservation of permanent affordable housing in the U.S. now benefits thousands of people. We are delighted to have the Park View and Costa Brava communities join our growing family,” said Bob Barolak, President, Harmony Housing Advisors, Inc., which advises the non-profit on acquisitions.
Harmony Housing’s goal is to grow its affordable rental housing portfolio and provide safe and comfortable housing across the country. The organization’s proceeds are ultimately reinvested into its property portfolio or distributed to the broader community through charitable giving, thus achieving the twin goals of transforming neighborhoods and helping people reach their full potential. Harmony Housing was originally founded as part of the ongoing philanthropic efforts of Stephen Rosenberg, founder of Greystone & Co., a real estate lending, investment and advisory company.
About Harmony Housing
Harmony Housing Advisors, Inc. provides consultative services to Harmony Housing, a 501(c)(3) formed to own and acquire multifamily affordable housing across the United States. Harmony Housing’s mission is to provide and grow the availability of affordable housing to those in need around country. For more information visit www.HarmonyHousing.org.