Volunteers of America (VOA) has acquired an affordable housing portfolio in Maryland.
The properties were owned by Interfaith Housing of the Maryland Eastern Shore, which transferred ownership to Volunteers of America in order to preserve the mission-based, service-enriched housing both organizations provide.
The five developments contain a total of 264 units and are located in four communities. The acquired properties are Federalsburg Gardens and Tanyard Branch Apartments in Federalsburg, Heath Manor Apartments in Snow Hill, The Lodges at Naylor Mill in Salisbury, and Riverview Gardens in Denton.
Terms of the deal were not disclosed.
Headquartered in Alexandria, Va., VOA is one of the nation’s largest owners of affordable housing, with more than 20,000 units across the country.