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| Anand Kannan |
PORTLAND, OR, Sept. 21, 2015 – WNC, a national investor in
real estate and community development initiatives, announced today that its
subsidiary, Community Preservation Partners LLC, has entered into an agreement
to purchase Plaza Townhomes, an
affordable housing community located at 5802 N. Michigan Ave., in Portland,
Ore.
Community Preservation
Partners will begin renovations at the community upon acquisition, and is
expected to complete more than $3 million in upgrades to the property.
“Community Preservation
Partners is committed to preserving the stock of affordable housing in the
U.S., which continues to fall far short of growing demand,” said Anand Kannan, president of WNC’s
Community Preservation Partners, LLC. “We are thrilled to expand our reach to
Portland, Oregon, with this acquisition as we seek to expand our preservation
efforts throughout the nation.”
Jack Aronson, director of
development acquisitions, is leading the acquisition on behalf of Community
Preservation Partners.
For a complete copy of the company’s news release,
please contact:
Julie Leber
Spotlight Marketing
Communications
949.427.5172, ext. 703
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