Urban Strategy Fund : A new Boston Real Estate Fund
 

Property Type:

404 residential units

Four properties of age restricted

apartment housing

 

Investment Strategy:

Core Plus

 

 

 

Exchange Place.jpg


Waterbury Senior Housing

Connecticut

 

Waterbury Senior Housing consists of four properties totaling 404 units of age-restricted apartment housing at three locations in and around Waterbury, CT. Flander’s West is a 145-unit mid-rise apartment community in Southington, Countryside I & II are two attached townhouse style apartment communities in Wolcott totaling 109 units, and Exchange Place West is a 150-unit, 11-story apartment building located in the CBD in Waterbury.

 

The investment is structured using a combination of a mezzanine loan and an equity investment. All four properties have a 25-year operating history and are covered under HUD project-based Section 8 contracts, where 70-85% of the monthly income is funded by the government. There is a waiting list of at least one year at each building and the properties are generating income which should remain stable during the hold period.

 

The acquisition is a joint venture with Beacon Communities and the proposed property manager is Beacon Residential Management. Beacon owns and manages 30 properties and more than 8,600 residential units in New England with decades of experience in all types of government-subsidized housing.

 

 

  Current Investments
 

545 Long Wharf

 

777 Brook Street

 

East Hartford Portfolio

 

Gates of West Bay

 

Harris Corners I - III

 

Lofts 881

 

Maitland Green I & II

 

Olmsted Green

 

One Greenway (Parcel 24)

 

The Schoolhouse

 

Seaside at 38 Hope Street

 

The Shops at Quonset

 

Southpoint Executive Center

 

Waterbury Senior Housing

 

Winooski Falls

 

Wyomissing

 

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