<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=4YtuuW_1BAoRju900" alt="https://img.particlenews.com/image.php?url=4YtuuW_1BAoRju900" width="1066" height="600" >Milestone Development has acquired a 90-unit, age-restricted, affordable housing development in Clarksburg, West Virginia.The New York-based real estate development and investment company purchased Clarksburg Towers from Crossgates Management. Freddie Mac and Berkadia provided financing for the transaction. A senior loan of almost $3 million was used.“We are thrilled to be investing in existing older-adult affordable housing in West Virginia and are grateful to Berkadia, Freddie Mac, our investor partners, and our intrepid legal counsel at Nixon Peabody for helping us leverage new capital to make holistic energy efficiency improvements, while extending affordable rent protections for each resident,” said Milestone CEO and partner Aaron Koffman. “We are excited to continue Crossgates’ legacy as a responsible and reputable steward of Clarksburg Towers and appreciate that Crossgates Management has agreed to stay on as property manager.” Going forward, Milestone leaders said they hope to enhance the sustainability of the structure, built in 1980, by installing high-efficiency HVAC in each unit and pursuing solar and geothermal modifications, reducing both its carbon footprint and energy costs borne by its residents. Dedicated to transforming the Mid-Atlantic, New England, West Coast, and Upper Midwest through innovative, sustainable, and community-focused projects, affordable housing developer Milestone has expanded operations encompassing almost 2,000 units across four states since its founding in 2023.</div></body>

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Milestone Development has acquired a 90-unit, age-restricted, affordable housing development in Clarksburg, West Virginia. The New York-based real estate development and investment company purchased Clarksburg Towers from Crossgates Management. Freddie Mac and Berkadia provided financing for the transaction. A senior loan of almost $3 million was used. “We are thrilled...

Milestone Development Acquires West Virginia Property

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Milestone Development has acquired a 90-unit, age-restricted, affordable housing development in Clarksburg, West Virginia. The New York-based real estate d

Milestone Development Acquires West Virginia Property

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