PEF Advisors Expands Affordable Senior Housing Portfolio with Belmont Villas Acquisition
Event summary
- PEF Advisors acquired Belmont Villas, a 164-unit senior affordable housing property in West Babylon, N.Y., for an undisclosed amount on April 16, 2026.
- The property, built with low-income housing tax credits in 2009, serves residents aged 55+ with incomes at 60% of AMI.
- Belmont Villas was 98.8% occupied at closing and features amenities like a fitness center, clubhouse, and in-unit washers/dryers.
- This acquisition marks PEF Advisors' fourth deal in its third affordable housing fund.
The big picture
PEF Advisors continues its focus on preserving affordable housing in high-cost markets, leveraging its affiliation with WNC & Associates' extensive experience. This acquisition aligns with broader trends of institutional capital targeting affordable housing as a resilient asset class, particularly in markets with severe supply constraints. The deal represents part of a $21.4 billion affordable housing portfolio managed by the WNC family of companies.
What we're watching
- Market Demand
- How Long Island's affordable housing shortage will sustain occupancy and rent stability at Belmont Villas.
- Preservation Strategy
- Whether PEF Advisors can successfully address deferred maintenance while maintaining affordability restrictions.
- Fund Performance
- The pace at which PEF Advisors will deploy additional capital from its third affordable housing fund.
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