Corporation for Better Housing (CBH), a nonprofit affordable housing developer, has selected WinnResidential to manage its 70-property, 4,313-unit multifamily portfolio stretching from south of Los Angeles to north of San Francisco.
WinnResidential assumed management of the entire CBH portfolio on Oct. 1, following an exhaustive effort to coordinate the simultaneous takeover among its nationwide staff based in Boston and its regional team in Fresno.
“We appreciate the confidence that Corporation for Better Housing has shown in our management capabilities and look forward to a long and successful relationship on behalf of their mission,” said Patrick Appleby, president of WinnResidential. “I am grateful to our team members across the nation who worked together to make sure we were able to onboard these properties on the same day.”
Based in Woodland Hills, Calif., CBH was founded in 1995 with the mission of providing low-to moderate-income seniors and families with safe, quality affordable housing, coordinated access to enhanced social service programs, and the dignity and peace of mind, which create a better living environment. The nonprofit utilizes a variety of funding sources for its developments, including low-income housing tax credits, HOME, U.S. Department of Agriculture Rural Development, and other state and local funding programs.
“Finding a company with the capacity to take on the day-to-day management and compliance responsibilities of the portfolio was our first priority. WinnResidential’s ability to understand our needs as an owner and developer was a bonus,” said Lori Koester, CBH executive director. “We are excited to partner with a company that shares our management philosophy and can grow with us.”
The addition of the CBH communities brings the active WinnResidential portfolio in California to 156 properties totaling more than 13,200 apartments across all income categories. The company’s workforce in California now totals nearly 420 team members. WinnResidential Military Housing Services also manages 613 units of privatized military housing at Los Angeles Air Force Base in San Pedro as part of a joint venture with Lendlease.
WinnCompanies is an award-winning national developer and manager of affordable, middle-income, mixed-income, and market-rate housing communities. Founded in 1971 and operating in 22 states and the District of Columbia, WinnCompanies is one of the nation’s leading multifamily housing managers with 100,000 units under management. It is the country’s largest manager of affordable housing and the second largest manager of privatized U.S. military housing.
