Skip to main content

Preservation Equity Fund Advisors Acquires Chowchilla Gardens 54-Unit Affordable Housing in Madera County

Written by Customer Service on . Posted in Mergers And Acquisitions.

IRVINE, Calif., April 27, 2022 (GLOBE NEWSWIRE) — Preservation Equity Fund Advisors, LLC (PEF Advisors), an organization committed to acquiring and preserving existing affordable housing in high-cost markets through real estate private equity investments, today announced it has acquired Chowchilla Gardens in Chowchilla, Calif. in Madera County. The 99% occupied, 54-unit development includes 21 units at 50% area median income and 32 units at 60% area median income for families.

Property amenities include a swimming pool, half-court basketball, clubhouse, laundry room, playground, barbecue area and covered parking. Interior amenities include fully equipped kitchens and air conditioning.

PEF Advisors plans to make capital improvements to the 26-year-old property in order to address deferred maintenance and enhance curb appeal, including upgrades to the property’s common areas as well as light interior upgrades. The acquisition will bring management efficiencies with other nearby assets. Additionally, PEF Advisors will evaluate energy efficiency programs such as LED lighting installation, low-flow water fixtures, and xeriscape programs to reduce energy costs.

“These repairs will help preserve housing affordability and potentially reduce energy costs in the future,” said Ann Caruana, senior vice president, acquisitions at PEF Advisors.

About Preservation Equity Fund Advisors, LLC
Since 2017, Preservation Equity Fund Advisors, LLC (PEF Advisors) has focused on acquiring and preserving existing affordable housing in high-cost markets through private equity funding. PEF Advisors is an affiliate of the WNC & Associates, Inc. (WNC) family of companies with access to WNC’s more than 50 years’ experience in acquiring more than 1,650 properties representing $13.7 billion in affordable housing nationwide, including through tax credit and/or preservation equity strategies.

CONTACT: Media Contact:
IDEA HALL 
Angela Fentiman
818.510.1202
angela@idealhall.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.