A joint venture between Aedera Companies and SHIFT Capital (SHIFT) has closed on the acquisition of two affordable housing properties in Philadelphia – Congressman Robert N.C. Nix Homes (39 units) and Haverford House (28 units).
Both properties benefit from federal project-based Section 8 Housing Assistance Payments (HAP) contracts. As part of these preservation efforts, the Aedera-SHIFT team renewed the HAP contracts for an additional 20 years, extending federal rental assistance that ensures long-term affordability and stability for residents.
“We are thrilled to serve as the next stewards of Nix Homes and Haverford House, preserving much-needed affordable homes in Philadelphia,” said Alison Carey, Founder of Aedera Companies. “We believe that stable, well-located, high-quality housing is essential to strong communities, and we are committed to investing in housing that supports residents’ stability and opportunity.”
In tandem with preserving affordability, the joint venture plans to implement a series of resident-focused improvements designed to enhance quality of life, including expanding resident services, adding complimentary Wi-Fi for residents, and installing solar panels.
“We’re committed not just to preserving affordable housing, but to enriching it with resources that support residents’ well-being and long-term opportunity,” said Brian Murray, CEO at SHIFT Capital.
The transactions were brokered by Newmark’s Affordable Housing Advisors team, a leading commercial real estate adviser and service provider to institutional investors and owners.
The acquisitions and improvements were financed with long-term Fannie Mae loans originated by Evan Williams, Vice Chairman, Head of Affordable Housing Debt & Structured Finance and Ian McIntire, Senior Managing Director, Affordable Housing Debt & Structured Finance at Newmark. The financing structure supports the long-term preservation of affordability while enabling strategic capital improvements.
“Newmark is proud to have facilitated both the acquisition and Fannie Mae financing for these properties,” said Matt Kurzmann, Vice Chairman, Co-Head Affordable Housing at Newmark. “This transaction underscores the growing market for preservation-oriented affordable housing capital and the importance of partnerships in delivering impactful community outcomes.
About Aedera Companies
Aedera Companies is a real estate firm dedicated to the execution of neighborhood- scale projects that enhance community vitality and advance social equity, specializing in the preservation and improvement of affordable housing. Founded in 2025 by Alison Carey, Aedera combines a passion for operational excellence with a mission to contribute to thriving, equitable communities.
About SHIFT Capital
SHIFT is a neighborhood investment group and Certified B Corporation that executes real estate projects and financing strategies focused on creating just and equitable communities for the long-term. The SHIFT Neighborhood Fund focuses on critical investment in underserved neighborhoods in North Philadelphia. SHIFT’s Catalyst Fund supports the next generation of impact developers, with a focus on women and BIPOC developers. Through these platforms, SHIFT has $350mm+ assets under management, $100mm+ equity under management, and has 1,000+ units developed and in the pipeline.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
