SAN FRANCISCO, CA – Belveron Partners, a privately held investment firm focused on housing preservation, and Conifer Realty, one of the nation’s largest affordable housing developers, owners, and property managers, announced their closing. Belveron’s investment marks one of several changes in control over Conifer’s 45-year history, the latest being when founding member Richard Crossed named Timothy D. Fournier as president and CEO in 2012.
This moment is the successful culmination of Conifer’s deliberate work to ensure the company’s continuity and growth. The acquisition required support from more than four dozen federal, state, and local agencies, plus 70 general, limited, and non-profit partners. The industry reputation of both firms smoothed the way and positions Conifer for ongoing market leadership.
“Closing an investment of this magnitude and complexity in the midst of a global pandemic presented new challenges. We are glad to have it concluded as we believe this investment strategy represents the future of affordable housing preservation,” said Paul Odland, Founder of Belveron Partners. “Forward-looking firms like Conifer know equity and acumen are essential to ensure both the company and the housing they have built is protected, improved, and available to serve low- and middle- income families for decades to come.”
“Belveron Partners’ investment will position Conifer in a unique place in our industry, able to make investments in our growth and our culture, resulting in an even stronger, positive impact on the communities we serve,” added Joan Hoover, President and CEO of Conifer.
All told, the closing encompasses more than 500 employees, nearly 30,000 residents, 194 properties, 15,340 homes, and 12 new construction projects in various phases of development. Hoover’s role as President has also been expanded to CEO and member of the Board, to which she also reports. The board includes Paul Odland, Louis A. Harrison, who spearheaded the investment for Belveron, Tim Fournier as Chairman, and Ryan Fuson, Managing Director of Redwood Housing.
Belveron and Redwood are frequent partners, having closed on multiple properties as recently as earlier this year in New Jersey and Washington DC.
Belveron Partners is committed to affordable housing through a variety of investments. Earlier this month, Belveron celebrated the preservation of Mercantile Wharf, a longtime refuge for low- and middle-income families in Boston’s historic North End neighborhood. The mixed-income community faced the prospect of conversion to condominiums or sale until Belveron and its partners secured a new Section 8 contract for residents there, resulting in long term protections and a rent reduction for many households.

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PHOENIX, AZ – Wood Residential Services, a national leader in multi-family real estate management, announced that it has been retained by TA Realty to manage three luxury apartment communities – Valentina by Alta in San Diego, Alta North Central in Phoenix and Alta Green Mountain in Lakewood, Colorado.
The agreement involves two top-tier companies: Wood Residential Services (WRS), a premier real estate management firm recently named the #1 manager for its online reputation in the J Turner Research rankings (Division III), and TA Realty, one of the largest and most experienced providers of real estate investment management services in the U.S.
“The entire Wood Residential Services team is excited to work with TA Realty as we continue to expand our management portfolio,” said Steve Hallsey, Managing Director for Wood Residential Services. “Strong third-party agreements like these will enable us to continue making a positive impact on these communities, by delivering exceptional customer service to our residents and a solid ROI for our partner.”
Each apartment community offers residents exceptional amenities and state-of-the-art home features like upgraded cabinetry, appliances and more.
Valentina by Alta, located in the Small Italy neighborhood of San Diego, CA, offers 110 boutique apartment homes with one- and two-bedroom floor plans, as well as penthouse units that feature unobstructed views of the San Diego Bay. Amenities include a second-floor pool, a fitness & yoga studio with bay views, multiple outdoor terraces and a resident library. Leasing started in the summer of 2019.
Alta North Central, located in Phoenix, AZ, includes 229 one-, two- and three-bedroom apartment homes and offers highly sophisticated living with a resident lounge, large pet area and rooftop terrace. In-home finishes and appliances include two cabinetry color schemes, five-burner gas stoves and double-ovens in select units. The community opened in the fall of 2019.
Alta Green Mountain, located in Lakewood, CO, offers 260 one-, two- and three-bedroom apartment homes with breathtaking views of Denver and the Green Mountain Nature Preserve, giving residents the perfect balance between the convenience of city living and the Colorado outdoors. Amenities include a spacious clubhouse, resort-style pool and a Colorado-inspired fitness center. It opened its doors in spring of 2019.
“We are very pleased with our choice to retain WRS as property manager for our recently bought apartment communities and look forward to our new partnership,” said Mike Haggerty, Managing Partner of TA Realty. “We are confident that WRS will help us successfully manage these communities while putting the needs of the residents first.”

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TALLAHASSEE, FL – Officials at The Preiss Company (TPCO), one of the nation s largest, privately-held, student housing owner-operators, and a private equity fund advised by Crow Holdings Capital announced the acquisition of the 752-bed Quantum on West Call for an undisclosed amount. The recently built student housing complex will undergo a partial renovation to further upgrade approximately half the units.
We are thankful to our partners and lenders who have helped us to complete this transaction which started pre-pandemic, said John Preiss, chief investment officer, TPCO. The student housing transactional marketplace has ground to a near standstill, and we believe this is one of the few deals to have been completed during these trying times. Our team faced numerous headwinds while navigating the COVID-19 reality, but with the help of our financial and legal teams, we persevered. Following the completion of our plotted, minor refurbishment of some units, we are confident that Quantum on West Call will be the lodging preference of choice for FSU students.
Located just one block from Florida State University along the FSU Seminole Shuttle Route, Quantum on West Call is situated on the corner of West Call and Conradi Streets. Student residents can delight in a 24-hour fitness center, resort-style pool, yoga center, sundeck with hammocks and grilling stations. Facilities also include a clubhouse with HD theater, cyber lounge, individual study nooks, community Wi-Fi access and group study spaces.
Quantum on West Call provides studio, one-, two-, three- and four-bedroom layouts with private bathrooms and a private parking garage. Fully furnished units are equipped with full-sized washer and dryer, 50 4K Smart TV, walk-in closet, granite countertops, stainless steel appliances and plush carpeting. Select units offer patios and balconies. Packages also contain high-speed internet, premium cable including HBO and all utilities except for electricity.
The Quantum on West Call marks our first entry into the Tallahassee marketplace, said Adam Byrley, chief operating officer, TPCO. But, it also marks our sixth student housing complex in Florida, granting us greater economies of scale and the ability to share statewide best practices. The property itself, at just two years ancient, is a fantastic physical product in an ideal pedestrian location within walking distance of a high-caliber university. The property checks all the boxes for us.
Approximately half of the 225 units will undergo minor renovations to upgrade common area vinyl plank flooring and internet connectivity improvements. Based on the newness of the project, no additional refurbishments were deemed necessary.

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