The New Jersey Housing and Mortgage Finance Agency on Friday sold $37.7 million in triple-A multifamily housing revenue bonds.
Proceeds will be used to build or finance 895 units of multifamily rental housing in eight developments throughout the state.
Of those units, 682 will be affordable to families earning low-to- moderate incomes, and 213 units will be for senior citizens.
This is the third sale of such bonds by the agency in 28 months. Previous issues of $154 million financed 2,200 affordable rentals.