LOS ANGELES — BH Properties has launched Haven Housing, an affordable housing company, and hired Connor Mortland to lead it. Mortland, formerly senior vice president of investments at Avanath Capital Management, will be based out of the firm’s San Diego office. As managing director and head of affordable housing acquisitions, he will direct Haven’s strategy to acquire and operate affordable and market-rate assets in the Western United States.
Haven Housing aims for garden-style, value-add acquisitions with 100 or more units with value-add potential in Texas, Arizona, Nevada, Oregon, Washington, Colorado and Utah. Affordable housing investments will target LIHTC-restricted communities past their 15-year compliance periods, with an emphasis on preserving affordability and improving performance through renovations and operational upgrades.
BH Properties was founded in 1994 and specializes in value-add acquisitions, affordable housing, distressed debt, gap financing and ground leases. With offices in Los Angeles, San Francisco, Phoenix, Dallas, Houston, Seattle and San Diego, the firm owns and manages an 11-million-square-foot portfolio across 16 states.