CAPREIT, a fully integrated real estate operating company, has been selected by Affordable Homes & Communities to (AHC) manage 21 communities in the Mid-Atlantic region.
The communities, located in Maryland, Virginia, and Washington, D.C., consist of 3,019 apartment homes.
CAPREIT’s assumption of management duties has already begun and will continue through the fall.
“We're excited to partner with AHC, which has always been a leader in the affordable and mixed-income space,” said Andrew Kadish, CEO and chief investment officer for CAPREIT. “Growing our third-party management portfolio is a major emphasis of ours, and this is an assignment that perfectly aligns with our vast experience in the affordable sector. We look forward to offering best-in-class service levels and cultivating an amazing resident experience at these AHC communities.”
Founded in 1993, CAPREIT owns and operates a diverse portfolio of multifamily communities throughout the U.S. totaling more than 14,000 units. The company is known for its long-term investment horizon, operational excellence, and focus on attainable housing.
AHC is a nonprofit developer that has developed more than 8,700 apartments in 55 communities since 1975.