Volunteers of American National Services (VOANS) announced the recent acquisition of a 455-unit, ten-property portfolio of family properties located in western Puerto Rico. The USDA Rural Development-financed portfolio has 100 percent rental assistance as is fully occupied. The acquisition also included the purchase of GR Management, a property management firm located in San Juan, PR.
The acquisition expands VOANS existing portfolio of four HUD senior housing properties in Puerto Rico, and complements Volunteers of America’s existing Federal Bureau of Prisons re-entry program in San Juan. VOANS continued investment in Puerto Rico is part of its Housing for Healthcare and Justice Fund to replace and preserve safe, affordable housing through the United States and provide high-quality property management.