Perennial Housing Group launches with 31 affordable communities across 10 states

Perennial Housing Group, a new affordable housing owner-operator based in Alpharetta, Georgia, launched with the acquisition of 31 properties totaling almost 4,000 apartments in 10 states across the Southeast and Midwest, the company announced Nov. 13. It said 97% of the properties have long-term project-based Section 8 contracts and that the platform is backed by unnamed institutional capital, with a goal of more than $1 billion in asset value over the next few years. CEO Gregory B. Jones, formerly CEO of Infinity Real Estate Management, leads the company, and the seller and price were not disclosed.