Vesta seeks to acquire affordable housing communities. Vesta believes that sound management, paired with strategic investment in real estate and residents, yields productive communities.
Vesta develops and manages communities that range from 28 to 500 apartments, serving a variety of low income and at-risk communities. Characteristics of these communities cross the spectrum of affordable rental housing:
- Moderate renovation to substantial (including historic) rehabilitation and new construction;
- Mixed income, market rate, and subsidized apartments with a variety of federal and state financing;
- Debt financing from conventional sources, including Fannie Mae and Freddie Mac, FHA insured, CDBG and HOME funds, taxable and tax exempt bonds;
- Equity financing from the sale of historic and low income housing tax credits through private placement as well as national equity funds; and
- Private equity sources for properties nearing the end of, or outside of their tax credit compliance period.