Kentucky Affordable Housing Portfolio
Overview
| Deal Type |
Bridge |
|---|---|
| Size |
$52 Million Acquisition of Affordable Housing Portfolio in Kentucky |
Summary
Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development and the creation and preservation of high-quality housing, secured financing from KeyBank in the acquisition of 950 units of affordable housing for families and seniors across Kentucky. Home to more than 1,500 residents, the 16 properties are located in Louisville and the surrounding communities, as well as in Lexington and across the southwest of the state.
The Louisville, Bardstown, Barbourville, Hardin, Hodgenville, Lexington, Mayfield, New Haven, Scottsville, Shepherdsville, and Radcliff communities all benefit from this mix of family and senior housing, which are affordable through U.S. Department of Housing and Urban Development Section 8 and LIHTC programs.
With this acquisition, Fairstead now owns nearly 1300 units across Kentucky, preserving the homes of thousands of Kentucky residents across the state. “Fairstead is expanding its portfolio throughout the U.S. to foster vibrant communities, ensure that our families and seniors have an affordable, stable place to live, and drive a sustainable future so our neighborhoods can grow and thrive,” said Jeffrey Goldberg, CEO of Fairstead.
