Diocese Under Contract for Sale Of Affordable Housing Properties

The Diocese of Toledo announced today that it has entered into a contract with BLVD Capital for the sale of two (2) affordable housing properties located in Toledo.

According to Bishop Daniel Thomas, “We executed purchase agreements for the potential sale of The Plaza and Doves Manor. While there is additional due diligence work to be done before final closing, the Diocese is confident that it has again selected the right buyer for its two remaining Mareda properties.”

BLVD Capital issued the following statement, “We are very pleased to be expanding our investment and partnership in the Toledo community with the addition of these two affordable housing properties.” In April, 2019 the Diocese sold five affordable housing properties to BLVD Capital including Madonna Homes, Michaelmas Manor, Moody Manor, Regina Manor, and Delaware Acres in Fremont.

The Diocese had announced in August 2017 that it intended to sell its Mareda properties, many of which were originally acquired in the 1970’s. The Diocese made the decision to sell after concluding that owning these properties does not reflect the current vision and spiritual mission of the local Church in exercising pastoral care for people.

According to Bishop Thomas, “We are grateful to BLVD Capital who have demonstrated their competence, care for residents and desire to be partners in our community.”

Posted October 9, 2020 at 8:36 pm