HOUSTON, TX – Financing has been secured to purchase and begin expanding The Life at Sterling Woods complex (formerly known as Villas on Winkler) into a 234-unit affordable senior citizen and multi-family community in Houston, Texas. The project is being rehabilitated by Olive Tree Holdings. Villas on is Olive Tree's 33rd multi-family acquisition and 13th in the Houston market.
"Olive Tree's mission has been to find and improve existing assets that can provide high quality, low-income housing to families across the south. With The Life at Sterling Woods, we now manage over 7,000 units of affordable housing and cover nationwide a critical need in these areas. economically troubled communities. The financial partnership between Olive Tree Holdings and the American South Real Estate Fund (ASREF) enables us to rapidly acquire and initiate projects, accelerating our pursuit of developments that affect life of seniors are changing and families in need, "said Ian Bel, managing member, Olive Tree Holdings.
The American South Real Estate Fund II (ASREF II) is the financial partner contributing to the realization of this project with its $ 4.8 million investment in the project. ASREF II is an Impact Fund dedicated to revitalizing distressed color communities across the South. Prior to ASREF II, SDS Capital Group and Vintage Realty Company managed ASREF I, a fund that invested in two low-income olive tree housing projects in the Houston metropolitan area.
“We are pleased to announce this investment. The 234 high quality, low income housing units highlight how our partnership between ASREF and Olive Tree is making a real difference in renovating and maintaining much needed affordable housing for Houston residents, ”said ASREF II Managing Partner Deborah La Franchi, Founder and CEO, SDS Capital Group. "With the acquisition of this latest project, our collaboration will have developed or maintained a total of 855 units for low-income seniors and families."
ASREF II follows ASREF I's impact investment strategy, which has allocated $ 58 million to projects in 10 southern states.
American South Fund Management, LLC (ASFM) is a partnership between Los Angeles-based SDS Capital Group and Vintage Realty Company of Shreveport, LA.
Source: Olive Tree / South American Real Estate
