Tredway acquires affordable housing portfolio in North Carolina
Tredway announced the acquisition of 630 affordable apartments for families and seniors across North Carolina. Located in fast-growing markets including the Raleigh-Durham Research Triangle, Charlotte MSA and the North Carolina coast, the 12-property portfolio is home to nearly 1,800 residents and is Tredway's first acquisition in the state.
"We're pleased to bring affordable housing opportunities to North Carolina while launching Tredway's new partnership with Affordable Housing Institute and The Federation Companies," said Will Blodgett, founder and CEO at Tredway. "The issues North Carolinians are facing, including years-long waits for affordable apartments and the loss of units to market pressures, are emblematic of a larger crisis that touches every community across the country. Together, we can make a tangible difference by preserving and improving existing affordable properties and ensuring residents' needs are met."
As a result of the acquisition, Tredway, its