April Housing Expands Affordable Housing Preservation Program to Florida

Resyndication Transaction in Orlando to Extend Affordability of Hundreds of Units for Decades

LOS ANGELES, November 3, 2025 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced the expansion of its affordable housing preservation program to Florida following the completion of a successful resyndication project in the Orlando region. The transaction will ensure the property remains affordable for residents for at least 30 more years. The company is also partnering with the Orange County Housing Finance Authority for the first time to support project funding.

As part of the transaction, April Housing will complete a $17 million renovation designed to improve the day-to-day resident experience across the property’s common spaces and 229 residential units, including:

• Renovated kitchens and bathrooms, with new fixtures and energy efficient appliances and lighting,

• Replacing all hot water heaters and split systems with modern energy efficient models, significantly reducing energy.
• Modernized community spaces, including two updated playgrounds, pool, and gym facilities; and
• The installation of rooftop solar, not only offsetting the property’s electricity usage but also providing critical backup power during weather-related grid outages.

“We are thrilled to announce our first resyndication in the state of Florida, underscoring our commitment to ensuring access to high-quality affordable housing for our residents and marks the beginning of a broader effort to preserve affordability across the state,” said Alice Carr, CEO of April Housing. “We’re excited to work with the Orange County Housing Finance Authority and our other local partners to deliver meaningful improvements for our residents as we look to set the bar for affordable housing preservation.”

April Housing has a long track record in Florida, managing a portfolio of nearly 13,000 units across 14 counties. Continuously focused on providing best-in-class housing and management practices to its residents, in 2024 alone, April Housing invested $15.3 million in capital expenditures to support its Florida communities.

Through April’s preservation program, Blackstone Real Estate has invested nearly $250 million since 2024 to upgrade and improve affordable housing. As one of the nation’s leading preservers of affordable housing, the expansion to Florida is a key step for April Housing’s ongoing preservation program.

Jaiye Falusi, Managing Director at Blackstone Real Estate, said: “Preserving affordability is a cornerstone of April Housing and we are incredibly proud of our program. Since its formation three years ago, April Housing has committed to providing its residents an exceptional living experience. We’re thrilled that April Housing residents in Florida will now benefit from this program and look forward to continuing to support the company’s tireless efforts to preserve and improve affordable housing across the U.S.”