April Housing Takes Key Steps In Its First Months
The firm has made several moves to preserve affordable housing.
The pieces are coming together at April Housing.
Seven months after its launch, the company has added key members to its executive team, moved toward making its first low-income housing tax credit (LIHTC) investment, withdrawn a qualified contract, and resolved two court cases that it had inherited.
April Housing, a Blackstone Real Estate portfolio company (NYSE:BX), was established to create and preserve affordable housing with an initial portfolio of more than 90,000 LIHTC units that were acquired by Blackstone Real Estate Trust (BREIT) from American International Group (AIG) and The Cornerstone Group.
“We want to grow our portfolio,” CEO Alice Carr tells Affordable Housing Finance. “We aim to be a best-in-class owner and operator, bringing new resources to the industry and serving as a thought leader.”