PEF Advisors Acquires Belmont Villas in West Babylon, N.Y.

The 164-unit property preserves affordable housing for seniors in the Suffolk County, N.Y. MSA

WEST BABYLON, N.Y., April 16, 2026 /PRNewswire/ -- Preservation Equity Fund Advisors, LLC (PEF Advisors), a real estate private equity group focused on preserving existing affordable housing in high-cost markets, announced their recent acquisition of Belmont Villas, a 164-unit apartment community located in West Babylon, New York. The units at Belmont Villas are restricted to residents aged 55 and older. The property is located on Long Island, approximately one hour from New York City. Built with low-income housing tax credits in 2009, the property is restricted to residents with income levels at 60% of Area Median Income (AMI). 

The property is comprised of eight two-story residential buildings in a low-density setting with 13.9 units per acre. The property features 164 one-bedroom units averaging 1,100 square feet; units include an extra room for a den or guest bedroom, providing a competitive edge to other one-bedroom units in the market. Property amenities include a clubhouse, gated access, fitness center, library, game room, and picnic area with barbecue. Resident amenities include balconies or patios, in-unit washer/dryer, vinyl plank flooring, granite countertops in select units, central heating/cooling, and fully equipped kitchens. As of closing, the property was 98.8% occupied.

Belmont Villas is located in Suffolk County, a high-cost rental market on Long Island's South Shore. "Long Island continues to experience a significant shortage of affordable housing, particularly for senior residents. Belmont Villas benefits from this strong demand dynamic, which supports long-term occupancy, rent stability and creates a highly resilient investment income profile," said Ann Caruana, President and Chief Investment Officer at PEF Advisors. She continues, "We're pleased to acquire a high-quality property from a respected developer, recapitalize it to address deferred maintenance, and ultimately preserve the affordability when the property becomes at-risk towards the end of our hold period."

Belmont Villa closed in April 2026 and represents PEF Advisors' fourth acquisition in its third Capital A affordable housing fund. 

About Preservation Equity Fund Advisors, LLC
Since 2016, Preservation Equity Fund Advisors, LLC (PEF Advisors) has focused on acquiring and preserving existing affordable housing in high-cost markets through private equity funding. PEF Advisors is an affiliate of the WNC & Associates, Inc. (WNC) family of companies with access to WNC's more than 54 years of experience in acquiring more than 119,000 units representing $21.4 billion in affordable housing nationwide, primarily through tax credit and/or preservation equity strategies.

Media Contact:
Elaine Philis
646-263-7658
[email protected] 

SOURCE PEF Advisors