GMHF in the News

Minnesota Development Opens for Struggling Veterans

Affordable Housing Finance covered the opening of Brustad Homes (Veterans East) in Minneapolis. A new affordable housing development for veterans struggling with homelessness has opened this fall in the Twin Cities. Adjacent to the VA Medical Center near Fort Snelling, the 100-unit Richard A. Brustad Homes makes another dent in reducing veteran homelessness in the… More

Real estate notebook: Star Tribune covers Aeon’s deal to preserve lower-cost apartments

A shortage of apartments and rising rents in the Twin Cities metro have made area apartment buildings a hot commodity among national investors who are often able to improve the buildings and increase rents. That is a threat to the already tight supply of rentals that are affordable to the lowest-wage families. And that is… More

Aff. Housing Finance: 768 Homes to Remain Affordable in the Twin Cities

Aeon has acquired 10 properties to preserve the affordability of 768 apartments in the Twin Cities region. The $77 million transaction marks the largest acquisition in the 31-year history of the nonprofit developer, owner, and manager of affordable homes. The purchase also represents the first project funded by Greater Minnesota Housing Fund’s (GMHF’s) recently formed… More

Nonprofit Aeon lands $77M apartment portfolio

Clare Kennedy reported on Aeon’s purchase of 10 older apartment buildings in Finance & Commerce’s Nov. 1, 2017 issue. In one $77 million mega-deal, nonprofit housing developer Aeon has purchased a portfolio of 10 older apartment buildings comprising 768 units. The Minneapolis-based affordable housing developer and owner closed Tuesday on the transaction. Six of the properties… More

More than 750 Apartment Homes in Twin Cities to Remain Affordable Thanks to Broad Partnership

FOR IMMEDIATE RELEASE (MINNEAPOLIS – October 31, 2017) Today Aeon, the NOAH Impact Fund of Greater Minnesota Housing Fund (GMHF), and Enterprise Community Investment, Inc. completed the purchase of 768 apartment homes across 10 properties in Bloomington, Brooklyn Center, New Hope, and St. Paul. Other key partners in the project include Bellwether Enterprise Real Estate Capital… More

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