ALPHARETTA — November 13, 2026 -- Perennial Housing Group has launched as an affordable housing owner and operator with a portfolio of 31 properties holding almost 4,000 apartment units across 10 states in the Southeast and Midwest. Of the 31 properties, 97% by count are supported by long-term project-based Section 8 (PBS8) contracts, which works out to 30 properties by FairsOnline's calculation.
Perennial's portfolio averages fewer than 130 units per property
Almost 4,000 units across 31 properties equals fewer than 130 units per property, by FairsOnline's calculation. The 31 properties across 10 states average about three per state. One property in the portfolio is not covered by a PBS8 contract. The company did not say what contract or arrangement applies to it.
The launch is backed by institutional capital. The company says it aims to grow to more than $1 billion of asset value over the next few years through acquisitions of PBS8 and other affordable housing communities. It did not disclose the price paid for the 31 properties or the identity of its backers, so the starting point against that $1 billion goal cannot be calculated.
Former Infinity CEO Gregory B. Jones leads the new platform
Gregory B. Jones is Perennial's chief executive. He previously served as CEO of Infinity Real Estate Management, LLC, where the company says he led the affordable multifamily platform and oversaw underwriting, contract negotiation and capital structuring.
According to the company, Jones has closed more than $1 billion of affordable multifamily transactions since 2011, including about $700 million of debt financing. Debt therefore accounts for up to about 70% of that volume, by FairsOnline's calculation. Jones has two decades of experience in the sector.
Federal rental assistance households are the portfolio's residents
The company says the portfolio houses households that depend on federal rental assistance. Perennial says it maintains each property with the goal of meeting or exceeding federal inspection requirements, and that it invests in capital improvements to extend the useful life of its communities.
Jones says the company wants to become one of the largest owners of affordable housing. He says Perennial holds itself to high operational standards.
Perennial says it will build relationships with government agencies, government-sponsored lenders and affordable housing brokers. It also expects to partner with developers of Low-Income Housing Tax Credit (LIHTC) projects and with public agencies.