Sena Affordable Communities, an affiliate of L+M Fund Management, and Tredway, in partnership with LIHC Investment Group and Leon N. Weiner & Associates (LNWA), announced $68 million in financing to preserve and redevelop Riverview Towers Apartments, a 225-unit affordable and elderly-designated rental community in Camden, N.J. As a result of the acquisition, the affordability agreement governing the property will be extended for another 30 years, at an income limit of 60 percent of area median income.
"We are excited to collaborate in providing long-term affordability, quality renovations and comprehensive medical and social services to seniors in Camden," said Josue Sanchez, senior vice president at Sena Affordable Communities. "The revitalization of Riverview Towers, through a public-private partnership, will directly benefit vulnerable seniors with an array of supportive services that will help them age in place. We look forward to working together to preserve this cri
