The Housing Partnership Equity Trust (HPET) has purchased Damen Court Apartments in downtown Chicago in collaboration with the Hispanic Housing Development Corporation, and will renovate the property and preserve it as affordable housing. HPET, a nonprofit real estate investment trust, was created by the Housing Partnership Network, a MacArthur Award recipient, and 12 nonprofit housing developers, with investment capital from MacArthur and other partners, to preserve affordable rental housing. The Damen Court transaction adds a fifth property to its portfolio of affordable rental homes. HPET also recently purchased it’s fourth property, a 173-unit rental property in Channahon, a Chicago suburb.
