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



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




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