ORLANDO, FL-The 240-unit Seminole Ridge Apartments community here has changed hands for $12.5 million.
Springboard Nonprofit Consumer Credit Management Inc. of Riverside, CA and Money Management International of Sugarland, TX report that they closed escrow last month on the property.
“We hope that in bringing our Social Conscious Management approach to Seminole Ridge, we will not only help hundreds of residents improve their quality of life, but will also set the foundation for the future of affordable housing in the U.S.,” said Springboard President and CEO Todd Emerson.
The not-for profits report in a release distributed on PR Newswire that they are spearheading a $25-million Affordable Housing Fund to bring affordable housing to thousands of low- to moderate-income individuals and families in states impacted most by the housing crisis. See the announcement on PR Newswire.