Twin Cities reporter Beth Mattson-Teig reports in National Real Estate Investor on social impact investment funds set up to address the loss of affordable (and unsubsidized) rental housing. The flurry of value-add apartment investing in recent years has sparked a countermove by public and private entities that are pooling their capital and stepping in to slow… Read more

From the Pioneer Press: A Minneapolis-based nonprofit has bought 118 apartments in Little Canada in order to keep them affordable. Aeon announced Friday that it had purchased The Provinces, an apartment complex west of Interstate 35E on Little Canada Road. The buildings, which are home to roughly 300 residents, were previously owned by Dominium. To finance… Read more

NEWS RELEASE Minneapolis – Today Aeon and the NOAH Impact Fund of Greater Minnesota Housing Fund (GMHF) completed the purchase of The Provinces, a property which includes 118 apartment homes in Little Canada. The building was sold by Dominium. Other key partners in the acquisition include NorthMarq Capital, which provided the mortgage through Freddie Mac’s… Read more

In recent years, the loss of Naturally Occurring Affordable Housing (NOAH) has been getting much attention. NOAH rental units are affordable without government assistance or subsidies and are typically older properties that lack amenities. In some cases, these properties are losing their affordability after being sold and rehabilitated/improved. The purpose of this analysis is to… Read more