April Housing Secures $369 Million for Florida Portfolio
The firm obtained a credit facility to support the preservation of 11 affordable housing properties across Florida.
Updated on Oct. 20, 2026 in Commercial
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April Housing has closed a $369 million credit facility through Fannie Mae to support its affordable housing portfolio in Florida. This financing arrangement covers 11 properties and aims to ensure the long-term viability of affordable residential units across the state.
Why it matters
The credit facility provides capital for the long-term preservation of affordable housing assets. By utilizing a mix of fixed-rate and floating-rate loans, the firm aims to maintain stability for its significant portfolio of subsidized residences.
The $369 million facility consists of a $221.4 million fixed-rate draw and a $147.6 million floating-rate loan. April Housing currently manages approximately 13,000 affordable units throughout 14 counties in Florida.
The players
April Housing
A company formed by Blackstone Real Estate Income Trust that specializes in the acquisition and preservation of affordable housing properties.
Blackstone Real Estate Income Trust
A real estate investment platform that sponsors April Housing as part of its commitment to expanding and maintaining affordable residential options.
Newmark
A global commercial real estate services firm that acted as the broker to arrange the financing for the housing portfolio.
Fannie Mae
A government-sponsored enterprise that provided the interest-only credit facility used to fund the housing portfolio.
The details
Arranged by Newmark, the deal required a comprehensive review of 24 regulatory agreements to secure the interest-only financing. This initiative follows the company's recent work at the 160-unit Palm Park Apartment Homes, where they committed $17 million to renovations and extended affordability for 30 years.
Timeline
Blackstone Real Estate Income Trust formed April Housing in February 2022.
A $366.1 million portfolio refinancing closed on September 9, 2026.
The $369 million credit facility closed in October 2026.
Culture Shift
This move highlights a growing trend of institutional investors prioritizing the long-term preservation of affordable housing through structured private-public financing. It marks a shift from simple asset acquisition toward a model focused on maintaining social stability in local real estate markets.
Residents in the 11 properties covered by this financing will see continued operation and maintenance of their homes under extended affordability mandates. These financial maneuvers generally ensure that units remain under rent-restricted programs rather than transitioning to market-rate properties.
The takeaway
Large institutional firms are increasingly using complex credit facilities to lock in the long-term affordability of residential properties. This strategy helps stabilize the inventory of available housing in states with significant growth in living costs.
Further reading
For more on large-scale property investments, visit the Florida Commercial section.
Source note: This article includes information reported by 301 Moved Permanently.
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