GHC Focuses on Social Side of Low-Income Housing

(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)

SHERMAN OAKS, CA-Locally based GHC Housing Partners, together with its property management company affiliate, PK Management LLC, hopes to reshape the face of affordable housing in America. The firms will focus on the “social side of low income housing, while providing a quality living environment.”

“This is a new approach to affordable housing,” says Gregory Perlman, CEO of GHC Housing Partners. “We focus on our residents and provide them with the opportunity to better their lives through self-improvement programs as well as support from the non-profit Perlman Foundation.”

Formerly named GH Capital, GHC Housing Partners specializes in acquiring and managing primarily Section 8 housing and providing social services and amenities “that go far beyond HUD requirements.” The type of amenities include things like: vegetable gardens, dog parks, job counseling, college scholarships and summer camps, which the firm says “are only part of this transformation of affordable housing.”

The past 12 months have experienced record growth for the company founded by Perlman, who started the business in 1994. Since 2011, when it began its partnership with Castle Hill Housing Partners, a New York and Los Angeles-based real estate equity manager, GHC Housing Partners acquired 19 properties totaling 2,669 units in 12 states, bringing its total properties to over 16,000 units in 21 states.

Recent acquisitions include: the South Village Apartments, a 335 unit senior housing property in Trenton, NJ; Essex Village, a 496-unit family and senior property in Richmond, VA; Ridgecrest Terrace, a 250-unit family property in Dallas that was purchased from the lender via foreclosure; Hacienda Del Rio, a 146 unit senior property in Phoenix; Rolling Hills, a 110-unit family property in Winston-Salem, NC purchased from the Housing Authority; and Woodland Crossing, a 132 unit tax credit family property also in Richmond which GHC purchased through a general partner interest acquisition.

Looking to the future, Perlman says in a prepared statement that the company’s goal is to “intelligently acquire 10,000 or more units over the next couple of years both in individual transactions and through joint ventures with other affordable housing operators.” He continues that ‘This enables us to help over 20,000 additional low income Americans and deliver tangible and intangible services that can improve their lives.”