NYCHA & Partners Announce Financial Closing of $635.6 Million Project to Renovate the Homes of Nearly 3,500 Residents at Reid Park Rock
Fairstead and LIHC Investment Group recently announced they acquired the Essex Plaza portfolio, a 691-unit affordable housing portfolio in Newark that is home to seniors and families, and will undergo a revitalization in partnership with the state of New Jersey, the city of Newark’s Department of Economic and Housing Development, the New Jersey Housing and Mortgage Finance Agency, and the U.S. Department of Housing and Urban Development. Financing for Essex Plaza was provided by the Urban Investment Group within Goldman Sachs Asset Management and Berkadia.
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