Hunt Capital Partners Transfers Ownership of 76-Unit Senior Affordable Housing Community to the Housing Authority of the City of El Paso

EL PASO, Texas–(BUSINESS WIRE)–#affordablehousing–Hunt Capital Partners (HCP) transferred ownership of Alamito Terrace Apartments to Housing Opportunity Management Enterprises (HOME), the public housing authority of El Paso. Located at 508 South Virginia Avenue, Alamito Terrace Apartments serves as a reliable source of affordable housing for 76 low-income seniors in Segundo Barrio, a historic Hispanic neighborhood in South El Paso. The community offers stable housing solutions for seniors earning up to 50% of the Area Median Income and has maintained an occupancy rate of 95% or higher since 2017.

Alamito Terrace Apartments represents the first of several affordable housing projects that HOME and HCP have partnered on together. HCP’s current portfolio represents 27 properties comprised of 3,342 units, providing housing for families and seniors in the El Paso Borderplex region.

“We are grateful with the partnership with HCP and their investment in El Paso over the past decade and a half,” said Satish Bhaskar, Executive Vice President and CFO for HOME.

Alamito Terrace Apartments is a four-story midrise apartment community that provides one-bedroom affordable homes that features balconies and patios. The homes are equipped with central air conditioning and heating, along with in-unit appliances such as a refrigerator and stovetop oven.

The property offers the recently constructed Alamito STREAM Center, a state-of-the-art learning and community facility, that is available on-site for residents. The center offers opportunities for households to explore subjects such as reading, reasoning, technology, art, and math. Currently in development at the property is the addition of a greenhouse and computer lab.

“Our long-standing partnership with HOME is built on a shared vision to uplift residents through affordable housing,” said Jeff Weiss, President at Hunt Capital Partners. “This collaborative relationship also extends to Hunt Companies, which has been instrumental in developing greater El Paso. Together, we’re not just investing in resident well-being, but we are fundamentally investing in the future of El Paso.”

Environmental Social and Corporate Governance (“ESG”) Investing

Hunt Capital Partners recognizes that its institutional investors are seeking to increase the social value of their investments to help further their ESG initiatives. An investment in affordable housing not only improves the living conditions of its residents, but it also helps to remove obstacles that stand in the way of creating a healthy, safe and stable home environment for low-income families and seniors. When families spend less on housing related expenses, they have more resources available for other essentials such as food and clothing, or even extracurricular activities and educational programs. One of the most significant benefits to providing quality affordable housing is an increase in an individual’s physical and mental health. Hunt Capital Partners’ affordable housing investments create a lasting effect on the people and communities they serve for generations to come.

About Hunt Capital Partners

Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $3.8 billion in tax credit equity in over 48 proprietary and multi-investor funds. HCP manages nearly 800 project partnerships representing over 80,000 homes in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.

Contacts

MEDIA CONTACT
Carolyn Baker

Senior Vice President, Corporate Communications

Hunt Companies, Inc.

[email protected]