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Article: Home Properties Acquires New Jersey Affordable Housing Company.
- Article from:
- PR Newswire
- Article date:
- August 2, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ROCHESTER, N.Y., Aug. 2 /PRNewswire/ -- Home Properties (NYSE: HME), a real estate investment trust ("REIT") which owns, operates, acquires, and develops apartment communities in select Northeast, Midwest, and Mid-Atlantic markets, today announced that it has acquired substantially all of the development business of Community Investment Strategies, Inc. (CIS), an affordable housing development company located in New Brunswick, New Jersey. At the time of the acquisition, CIS had ten affordable communities with approximately 750 units in various stages of planning and development. These are expected to generate significant development fees as well as on-going management ...
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