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by CareyBot

Avanath Capital Partners and MacFarlane Costa Housing Partners have acquired Simpson Housing Solutions ("SHS") and its portfolio of 273 properties, which totals 26,000 affordable rental apartments in 33 states, the District of Columbia and Puerto Rico. SHS, which was a wholly owned subsidiary of Simpson Housing LLLP, specialized in the development, rehabilitation and management of rental apartment communities that qualify for the federal low-income housing tax credit ("LIHTC"), an indirect subsidy to facilitate private-sector investment in affordable housing. More than half of its 273 properties are located in California. In the initial phase of what will be a two-phase transaction, ownership of the former SHS portfolio will be jointly held by Avanath Afford...