BH Properties plans $1b investment into affordable housing

BH Properties has launched a new investment initiative into affordable housing with a goal of ultimately building a $1 billion portfolio of assets.

The new initiative will be led by veteran affordable housing executive William “Bill” Stoll, who joins the firm as managing director.

An adjunct to the firm’s value-add multifamily platform, the new platform will focus on low-income housing tax credit (LIHTC), Section 8 and age-restricted housing throughout the United States. For the Los Angeles–based real estate investment firm, which manages a 10 million-square-foot portfolio of commercial real estate assets and more than 2,000 multifamily units, investment in affordable housing is complementary to its other business lines including value add acquisitions, bankruptcy solutions, and investment in real estate debt instruments across the capital stack.

“As long-term investors, our affordable housing strategy is driven by the annuity-like nature of the income