Jonathan Rose Cos. has announced the final closing of a $660 million impact fund aimed at acquiring, preserving, and enhancing affordable and mixed-income multifamily housing across the country.
Rose Affordable Housing Preservation Fund VI will deploy capital into properties in high-demand urban markets such as Boston, Chicago, Denver, New York, San Francisco, Seattle, Southern California, and Washington, D.C.
“Affordable housing remains one of the most pressing and investable challenges of our time,” said Jonathan F.P. Rose, president of Jonathan Rose Cos. “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.”
In line with the firm’s broader sustainability mission, Fund VI aims to reduce portfolio-level energy use by 20%, water consumption by 15%, and greenhouse gas emissions by 20% within 10 years. Each property in the fund will be benchmarked and retrofitted to prioritize cost-effective improvements with a five-year payback, such as high-efficiency HVAC systems, water-saving fixtures, and rooftop solar. The firm will pursue third-party greening certifications such as Enterprise Green Communities across the portfolio.
The fund attracted a diverse institutional investor base, including pension funds, banks, foundations, endowments, and family offices. Notable investors include Capital One and theFord Foundation. Approximately 75% of the capital commitments came from returning investors, a strong signal of continued demand for real estate strategies that deliver both resilient returns and measurable social impact.
This sixth preservation fund brings the series total to over $1.5 billion.
Officials noted that the fund comes at a time when more than 20 million Americans are spending over half of their income on housing and more than 100,000 units lose their affordability each year.
A leading developer and owner of affordable and mixed-income multifamily housing, Jonathan Rose Co. has a portfolio of nearly 20,000 homes in 14 states and Washington, D.C.