Mercy Acquires Property Through REIT

Congratulations to Mercy Housing, which recently used a new financing tool to purchase a 128-unit affordable rental building in Aurora.  Mercy, a member of the Housing Partnership Equity Trust, was the first to use the newly formed real estate investment trust (REIT) to purchase a property.  The REIT, which has more than $100 million in investments, allows participating non-profit organizations to quickly and efficiently acquire properties.  Read more in the Wall Street Journal and at housingpartnership.net.