Gregory Perlman started GH Capital with 1,500 units of Sec. 8 housing, some hotels, and other housing. But the firm sold off its non-affordable housing product over the course of eight years, and the firm rebranded itself as GHC Housing Partners in 2012.
“I felt we should denote ourselves as totally focused on housing,” says CEO Perlman. The firm had an active 2012, completing 22 acquisitions with 2,771 units and refinancing nine properties within the portfolio.GHC Housing primarily focuses on the acquisition of properties with project-based Sec. 8 contracts that cover all or a substantial part of the units. It controls subsidized housing properties in 24 states.
Its 2013 goals are consistent with the firm’s annual steady growth. It expects to do 25 acquisitions with 3,500 units.
“Our goal is to close about two acquisitions a month,” Perlman says. “It ebbs and flows.”
In addition to the firm’s social services programs, Perlman created a philanthropic foundation in 2009.
GHC and the Perlman Foundation partnered to donate 1,700 backpacks filled with school supplies to resident children and funds for children to attend summer camps last year. The Perlman Foundation also awarded 15 scholarships to graduating seniors at its properties.