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Partnership launches $1 billion affordable housing venture

Manulife Investment Management, TruAmerica Multifamily to preserve aging apartment buildings
TruAmerica Multifamily, headquartered at 10100 Santa Monica Blvd. in Los Angeles, pictured, is teaming with Manulife Investment Management to acquire a 51-property portfolio. (CoStar)
TruAmerica Multifamily, headquartered at 10100 Santa Monica Blvd. in Los Angeles, pictured, is teaming with Manulife Investment Management to acquire a 51-property portfolio. (CoStar)

A growing pool of investors is aiming to preserve aging affordable multifamily properties before they convert to market-rate rents.

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News | Partnership launches $1 billion affordable housing venture