The Michaels Organization Acquires Weyant Green Apartments, Preserving 51 Affordable Homes in Highland Falls, New York

HIGHLAND FALLS, N.Y. — Aug. 12, 2026 — The Michaels Organization has acquired Weyant Green Apartments, a 51-unit affordable housing community at 40 West Point Highway in Highland Falls, New York, the firm announced. Every unit in the property is covered by a Project-Based Section 8 rental assistance contract, shielding residents from market-rate rent pressure. The transaction is the ninth subsidized housing acquisition The Michaels Organization has completed in the past two years.

Property Overview: Senior and Family Housing Near West Point

Weyant Green Apartments is a garden-style complex built in 1984 and situated on approximately 2.7 acres in the Village of Highland Falls, Orange County, New York — roughly 54 miles north of New York City along the corridor serving the U.S. Military Academy at West Point. The property comprises 31,860 square feet of residential space across 51 units in two-story buildings.

Forty of the 51 units carry a senior housing designation and consist of one-bedroom apartments. The remaining units are two-bedroom duplex apartments serving low- and moderate-income families. Affordable housing databases indicate the property has historically maintained a waiting list, reflecting the constrained supply of deeply subsidized housing in the municipality. Highland Falls has only two affordable housing complexes, underscoring the local scarcity of subsidized inventory.

Tenant rents at the property are calibrated to resident income levels, ranging from approximately $371 to $768 per month under the Section 8 subsidy structure — well below Orange County's HUD Fair Market Rents of $1,419 for a one-bedroom unit and $1,825 for a two-bedroom unit.

Deal Details and Michaels' Platform

Mohsin Azmi, Vice President at The Michaels Organization, led the acquisition and capitalization of Weyant Green. Financial terms of the transaction were not disclosed.

The Michaels Organization will apply its full-service platform to the property, encompassing investment management, construction management, HUD compliance, and property management. The firm is headquartered in Camden, N.J., and is one of the country's largest privately held owners of affordable housing.

"Every one of these 51 homes represents a senior or a family who can stay in a home they can afford," Azmi said in a statement. "That is what lifting lives looks like in practice."

Matt Sullivan, Chief Operating Officer of The Michaels Organization, said the acquisition reflects the firm's core mission. "Our mission is creating communities that lift lives, and acquisitions like Weyant Green are one of the most direct ways we deliver on it," Sullivan said. "Residents here gain an owner with the platform to operate at a high standard willing to go out a little further to Lift Lives."

Part of a Broader Subsidized Housing Acquisition Strategy

The Weyant Green deal extends a deliberate acquisitions campaign at The Michaels Organization focused on preserving deeply affordable, subsidized communities nationwide. The firm acquires properties operating under Project-Based Section 8, Low Income Housing Tax Credit, Section 515, Rental Assistance Demonstration, and other subsidy and rent-restriction programs across all 50 states, as both single assets and portfolios.

The strategy has accelerated in recent years. In 2025, The Michaels Organization, through an "Essential Housing Impact Partnership," acquired a 90-property, 10,000-unit affordable portfolio for $1.2 billion, targeting communities near the end of their initial LIHTC compliance periods. Earlier, in 2018, the firm acquired 41 affordable communities from developer Vitus, many carrying HUD or USDA subsidies and LIHTC recapitalizations. The Weyant Green transaction is the ninth subsidized acquisition the firm has closed in the past two years alone.

The Michaels Organization said it works closely with family offices, nonprofits, housing authorities, and small to mid-size private owners who are approaching retirement, navigating generational transition, or reaching the end of a compliance or extended use period, and who want assurance that residents and on-site staff will be cared for after a sale.

Contact for Acquisition Opportunities

Owners considering a sale, recapitalization, joint venture, or portfolio disposition are encouraged to contact Kunal Chothani, Senior Vice President of Acquisitions at The Michaels Organization, at kchothani@tmo.com. The firm said it reviews off-market opportunities directly and can move to a decision without a broker process when a seller prefers confidentiality.