Jonathan Rose Companies announced the final close of Rose Affordable Housing Preservation Fund VI, a $660 million impact fund focused on acquiring, preserving, and improving affordable and mixed-income multifamily housing in high-demand U.S. markets.
The fund attracted diverse institutional investors, including Capital One and the Ford Foundation, with 75% of commitments from returning investors, indicating strong demand for resilient, socially impactful real estate strategies.
This brings the total equity in the Preservation Fund series to over $1.5 billion, reflecting the firm’s long-standing commitment to green, affordable, and opportunity-rich communities. Fund VI aims to sustain long-term affordability, green properties to reduce climate impact, and connect residents with social services to improve outcomes.
Building on its dedication to creating communities of opportunity, the firm combines real estate investment with green upgrades and resident programs to promote economic mobility and resilience, focusing on scalable, cost-effective improvements that enhance energy efficiency and reduce costs.
With $4.6 billion in AUM, Jonathan Rose has preserved and modernized nearly 20,000 homes, 90% of which are affordable. Fund VI targets environmental goals, including a 20% reduction in energy use and emissions and a 15% reduction in water use within ten years. Properties will be retrofitted with efficient HVAC systems, water-saving fixtures, and solar panels, and certified to standards like Enterprise Green Communities. Environmental performance will be reported annually.
Addressing a housing shortfall of over 7 million units, with tens of millions of Americans paying over half their income on housing and 100,000 affordable homes lost annually, Fund VI invests in properties across key markets including New York, Boston, Chicago, San Francisco, Southern California, Seattle, Denver, and Washington D.C., focusing on high-risk, transit-oriented, opportunity-rich neighborhoods.
KEY QUOTES:
“Affordable housing remains one of the most pressing and investable challenges of our time. With Fund VI, we are not only preserving long-term affordability but also reinvesting in properties ready for transformation and turning them into platforms for opportunity. These will be healthier, more sustainable and resilient communities that offer residents stability, access to essential resources, and a foundation for a better future, while delivering strong value for our investors. It’s a strategy rooted in decades of experience, but deeply attuned to the needs of this moment.”
Jonathan F.P. Rose, President of Jonathan Rose Companies
“With America’s affordable housing crisis deepening, our investment in Fund VI couldn’t be more timely and critical. Jonathan Rose Companies exemplifies the kind of partner we prioritize—one that preserves affordability and enhances resident quality of life while delivering market rate financial returns. Rose’s integrated approach to creating meaningful, lasting positive social impact aligns perfectly with our impact investing goals, making this expanded partnership both strategic and meaningful.”
Roy Swan, Director of Mission Investments at the Ford Foundation
