Aeon

Provinces

Ramsey Co, NOAH Impact Fund help Aeon buy/preserve 118 apartments

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

NOAH Impact Fund partners with Aeon to preserve 118 homes

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

Real estate notebook: Star Tribune covers Aeon’s deal to preserve lower-cost apartments

A shortage of apartments and rising rents in the Twin Cities metro have made area apartment buildings a hot commodity among national investors who are often able to improve the buildings and increase rents. That is a threat to the already tight supply of rentals that are affordable to the lowest-wage families. And that is… Read more

Aff. Housing Finance: 768 Homes to Remain Affordable in the Twin Cities

Aeon has acquired 10 properties to preserve the affordability of 768 apartments in the Twin Cities region. The $77 million transaction marks the largest acquisition in the 31-year history of the nonprofit developer, owner, and manager of affordable homes. The purchase also represents the first project funded by Greater Minnesota Housing Fund’s (GMHF’s) recently formed… Read more

Nonprofit Aeon lands $77M apartment portfolio

Clare Kennedy reported on Aeon’s purchase of 10 older apartment buildings in Finance & Commerce’s Nov. 1, 2017 issue. In one $77 million mega-deal, nonprofit housing developer Aeon has purchased a portfolio of 10 older apartment buildings comprising 768 units. The Minneapolis-based affordable housing developer and owner closed Tuesday on the transaction. Six of the properties… Read more

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Download NOAH Brochure

For more background about the NOAH Impact Fund, please download the NOAH Impact Fund Brochure (PDF).

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About NOAH Impact Fund

NOAH Impact Fund is a subsidiary of Greater Minnesota Housing Fund.  
This program was established to enable the preservation of existing  
affordable housing for Minnesotans.  

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Learn More

 

Greater Minnesota Housing Fund

GMHF is AERIS rated and a member of the  
Federal Home Loan Bank of Des Moines.

 
AERIS RATED AAA +2 FHLB Des Moines

Staff Contacts

John Errigo
Director of Investing & Fund Manager
jerrigo@gmhf.com
651-350-7224

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH Impact Fund
whanson@gmhf.com
651-350-7220

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101