Beacon Communities has executed multiple transactions in which we have recapitalized platforms that own, manage, or develop multifamily affordable and mixed-income housing. In some instances, these businesses operate under their own brands, while in other cases, they become fully integrated into Beacon Communities. Through these opportunities, our company grows, our team members learn new skills, and we bring our approach to other affordable housing portfolios.
Since 2012, we have executed several such transactions. In the cases of Tennessee-based LHP Capital and Georgia-based Ambling, we helped recapitalize and provide strategic direction to companies that control large portfolios of affordable housing. In the case of Albany-based Omni Development, we structured a transaction in which a portion of Omni’s team and pipeline joined Beacon, founding our Albany office. And in 2017, we purchased the business interests of National Development Corporation, a Pittsburgh-based owner and manager of multifamily housing.