Senior Housing News November 22, 2024
A nonprofit developer and provider of affordable housing and supportive services is growing beyond its initial footprint with a new acquisition of affordable communities that serve older adults and families in need.
Wesley Housing is acquiring Virginia United Methodist Housing Development Corporation (VUMHDC) in a transaction that nearly doubles Wesley’s existing affordable housing portfolio. Since its founding in 1975, the organization has worked “both as owners and partners in multi-family apartment communities for seniors and families,” according to its website.
The addition adds 34 properties totaling 1,919 units in Virginia to Wesley Housing’s portfolio and represents the Alexandria, Virginia-based organization’s first major growth effort outside of the Washington, D.C. region
Wesley Housing has a current affordable housing portfolio of 29...
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