Affiliated launches $250M fund for mixed-income multifamily projects

Affiliated Development is looking to raise $250 million to provide equity capital for mixed-income multifamily projects across Florida. Fort Lauderdale-based Affiliated, led by Nick Rojo and Jeff Burns, recently completed its initial round of capital fundraising, securing $50 million in commitments from municipal police and fire pension plans, a press release states. The firm focuses on developing apartment projects that include market-rate and workforce housing units via public-private partnerships with local governments. “South Florida is the epicenter of the housing affordability crisis.” Burns said in a statement. “Over 60 percent of renters in the South Florida area are cost-burdened, meaning […]This article originally appeared on The Real Deal. Click here to read the full story.