Vela Cos. Acquired Columbus Park Trails Housing

The firm purchased the 220-unit residential community from April Housing for $24.5 million.

Updated on Oct. 9, 2026 in Commercial

Vela Cos. Acquired Columbus Park Trails Housing

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Vela Cos. has finalized the purchase of the 220-unit Park Trails housing community in Columbus for $24.5 million. The transaction was supported by a $19 million Fannie Mae loan originated by M&T Bank.

Why it matters

The acquisition represents a significant shift in ownership for the 24-building asset, which has maintained high demand with a 95 percent occupancy rate as of June 2026. This transition highlights continued investment activity within the local Columbus multi-family housing market.

The Park Trails property spans 5 acres across 24 buildings, featuring units that average 1,185 square feet. The site is restricted to residents earning no more than 60 percent of the area median income.

The players

Vela Cos.

This firm is a real estate investment entity that recently expanded its portfolio by acquiring the Park Trails housing community.

April Housing

This company is a specialized housing provider that was created by Blackstone in 2022 to manage and preserve affordable housing assets.

M&T Bank

This financial institution provided the $19 million Fannie Mae loan utilized to facilitate the property transaction.

Blackstone

This global investment firm is the parent organization responsible for the creation of April Housing.

The details

Vela Cos. secured the financing for the property in the Walnut Heights neighborhood of Columbus. The community, originally placed into LIHTC service in 2003, offers spacious residential layouts that have kept occupancy stable.

Park Trails debuted in 2002.
The property was placed into LIHTC service in 2003.
April Housing was created by Blackstone in 2022.
Occupancy at the complex reached 95 percent in June 2026.
The acquisition occurred in October 2026.

Culture Shift

The property remains subject to the Low-Income Housing Tax Credit (LIHTC) program's affordability requirements, which continue to govern the income thresholds for residents. The sale follows established patterns for properties operating under the LIHTC program, which dictates occupancy and income restrictions for the development.

Current residents will see no changes to the affordability mandates or income thresholds tied to the property, as the acquisition does not alter the underlying LIHTC status. The transfer of ownership maintains the status quo for those living in the Walnut Heights community.

The takeaway

Large-scale housing transactions like this often rely on significant loan-to-value ratios to maintain property viability in the current economy. Investors continue to prioritize stable, high-occupancy assets that serve specific demographic income brackets.