- Sixth preservation fund brings series total to over $1.5B, demonstrating strong investor confidence in impact-driven, resilient real estate
- New fund aims to combat affordable and mixed-income housing loss and climate risk while creating healthier, opportunity-rich communities across key metros, including Boston, Chicago, Los Angeles, Washington D.C., and others
Jonathan Rose Companies, a leading mission-driven real estate investment and development firm, today announced the final close of Rose Affordable Housing Preservation Fund VI, a $660 million impact fund dedicated to acquiring, preserving, and enhancing affordable and mixed-income multifamily housing in high-demand urban markets across the United States.
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Jonathan Rose Companies' Webster House in Chicago - Acquired via Fund VI
This closing brings the total equity raised across Jonathan Rose Companies’ Preservation Fund series to more than $1.5 billion, a milestone that reflects the firm’s decades-long commitment to building green, affordable, and opportunity-rich communities. Fund VI aims to preserve long-term affordability across the Fund portfolio, green the properties to reduce their climate impact, and connect its residents with social services to improve access to opportunity, resulting in better life outcomes.
This work builds on the firm’s deep dedication to creating communities of opportunity that elevate financial, social, health and education outcomes for residents. As with its prior funds, the strategy treats real estate as a platform for holistic impact, pairing traditional real estate investing with practical green upgrades and on-site resident programming that supports economic mobility and community resilience. The firm prioritizes scalable, cost-effective improvements that enhance energy efficiency, reduce operating costs, and deliver long-term value for both residents and investors.
With $4.6 billion in assets under management, Jonathan Rose Companies has already led the preservation and modernization of nearly 20,000 homes, approximately 90% of which are dedicated to affordable housing.
“Affordable housing remains one of the most pressing and investable challenges of our time,” said Jonathan F.P. Rose, President of Jonathan Rose Companies. “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 is advancing ambitious environmental goals. The fund aims to reduce portfolio-level energy use by 20%, water consumption by 15%, and greenhouse gas emissions by 20% within ten years. Each property included 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 and report environmental performance annually to GRESB and investors.
Recent reports from the National Low Income Housing Coalition show an affordable housing shortfall of more than 7 million units, with more than 20 million Americans spending over half of their income on housing. The issue is compounded as more than 100,000 affordable residences are permanently eliminated each year. Fund VI represents a meaningful capital commitment to address these urgent challenges by preserving existing affordable housing and creating new units.
The fund attracted a diverse institutional investor base, including pension funds, banks, foundations, endowments, and family offices. Notable investors include Capital One and the Ford 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.
"With America's affordable housing crisis deepening, our investment in Fund VI couldn't be more timely and critical," said Roy Swan, Director of Mission Investments at the Ford Foundation. "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."
Fund VI will deploy capital into properties in markets including New York, Boston, Chicago, San Francisco, Southern California, Seattle, Denver, Washington D.C., and other transit-oriented, opportunity-rich neighborhoods at high risk of displacement.
For more information on Jonathan Rose Companies and its fund, please visit RoseCompanies.com.
About Jonathan Rose Companies
Jonathan Rose Companies is one of the country’s leading owners of green, affordable and mixed-income communities. Founded in 1989 with a mission to create a more environmentally thriving, socially just world through the development, preservation, renovation, and ownership of green, affordable and mixed-income communities, Rose has created projects $4.6 billion of value as of year-end 2024, with a current portfolio of nearly 20,000 apartment homes in 14 states and Washington, D.C. The Firm is a fully integrated investment management, development, and asset management company with construction management, solar energy, mortgage finance, and title company affiliates, and has offices in New York, Ohio, Colorado and California. For more information, please visit www.rosecompanies.com
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