Edgemark Communities Acquires Affordable Housing Portfolio

BISWIRE/May 13, 2024 — Edgemark Communities has acquired an 844-unit Project Based Section 8 portfolio. The portfolio consists of 13 properties in Iowa, Nebraska, and South Dakota.

Aaron Metz, Managing Partner at Edgemark Communities states, “This acquisition is an accretive addition to our existing portfolio from an operational efficiency standpoint. It also aligns with our strategy of utilizing long-term debt to afford us ultimate flexibility to do what’s best for our residents and investors, regardless of market conditions.”

The entire portfolio provides subsidized rent through HUD's Project Based Section 8 housing program, and 75% of the units house an elderly population. The acquisition was facilitated off-market from long-time affordable housing investor and operator, Oakleaf Property Management. Richard Sapkin, Founding Partner of Edgemark Communities states, “We are pleased to have the opportunity to continue the legacy that was started by Oakleaf Property Management. This acquisition continues Edgemark's involvement in preserving affordable housing. We are grateful to have the opportunity to continue serving these communities.”

Since its inception in 2000, Edgemark has thrived in its commitment to market knowledge, meticulous attention to detail, and unwavering integrity. These pillars have propelled Edgemark to the forefront of the real estate industry, earning it a reputation as a premier investor with a track record of success. With over 5.2 million square feet of real estate acquired or developed across 22 states, Edgemark's portfolio encompasses a diverse range of asset classes, including affordable and market rate apartments, self-storage facilities, retail shopping centers, office buildings, and senior living communities.

For more information about Edgemark’s projects and investment opportunities, please visit Edgemark.com or contact us at info@edgemark.com.