The three off-market transactions, completed within one week, add 1.78 million square feet to the company’s portfolio.
The fund brings the firm’s total equity raise to $5.5 billion for the investment and development of affordable housing.
In 2017, California legalized the conversion of existing buildings on single-family lots to ADUs and on January 1, 2020, the law expanded to allow every single-family homeowner to add both an ADU and a junior ADU.
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