2030 Finance | October 13, 2017

Jonathan Rose Cos. closes $233 million affordable-housing fund

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Jonathan Rose Cos. has closed a new $233 million affordable-housing fund.

The New York firm, which invests in green and community real estate, has secured $233 million for its fourth Rose Housing Preservation Fund to acquire affordable properties and make energy efficient upgrades.

The properties will include classrooms and health and social services. The company has already invested $64 million from the fund, including buying a portfolio of 3,300 government-assisted housing units.

The Ford Foundation, Deutsche Bank’s Community Development Finance Group, non-profit health provider Providence St. Joseph Health, and Nuveen (TIAA’s recently renamed asset management group), invested in the fund.

As many as 19 million U.S. households pay more than half their income on housing.