NASHVILLE, Tenn., June 29, 2026 (GLOBE NEWSWIRE) — Lion Real Estate Group (LREG), a real estate investment management firm founded in 2007 by Mory Barak and Jeff Weller, has acquired Berkley Spring, a 42-unit Low Income Housing Tax Credit (LIHTC) family apartment community located at 14 Good Hope Rd. in Lawrenceburg, Tenn. Building on the firm’s earlier success with Bayside Communities located in Walnut Creek, Calif., the acquisition represents Lion’s return to LIHTC investing and is part of Lion’s Fund III, which closed in 2025 and continues deploying capital through this year.
Berkley Spring consists of six buildings, including five residential with a mix of one-, two- and three-bedroom units totaling 45,748 rentable square feet and one clubhouse on just over nine acres. The property is currently 100% occupied with historically strong performance averaging over 96% occupancy over the past two years. The acquisition price and terms were not disclosed.
“We believe the LIHTC sector presents a compelling opportunity to generate stable long-term yield while addressing the growing demand for affordable housing. My Co-Founder Jeff Weller and I have experience with tax credit-oriented investments which dates back to the beginning of our careers. Since launching Lion, we have adopted a fund-based approach to provide investors with greater diversification and flexibility. Berkley Spring allows select investors to participate directly in a high-quality investment, while Fund III also gains exposure to a sector that we believe is positioned to deliver attractive risk-adjusted returns,” said Mory Barak, co-founder, Lion Real Estate Group.
Supporting workforce and affordable housing needs in Lawrence County, Tennessee, the property operates under the Section 42 LIHTC program. Under its LIHTC Land Use Restriction Agreement (LURA), a recorded covenant that governs the property’s affordability requirements, 10% of units are restricted at 50% AMI (Area Median Income) and the remainder at 60% AMI. LIHTC restrictions extend through 2039, and qualified contracts are eligible through 2029.
Lawrenceburg is the county seat of Lawrence County, located approximately 90 minutes south of downtown Nashville, which remains one of the fastest-growing U.S. cities with robust job growth, major corporate investment from Oracle and Amazon, and a thriving music and entertainment market.
“We are excited about Berkley Spring and believe it offers attractive current yield and durable cash flow for our investors. I am proud to be part of the Lion team as we continue to grow our presence not only in the Nashville market, but throughout the Sun Belt,” added Ian Symington, vice president, head of acquisitions, Lion Real Estate Group.
About Lion Real Estate Group
Founded in 2007 by Mory Barak and Jeff Weller, Lion Real Estate Group is a vertically integrated real estate investment and management firm specializing in value-add multifamily properties across the Sun Belt and Southeast United States. Since inception, Lion has transacted more than 119 properties totaling over 15,000 units and $2.8 billion in transaction volume, with no realized losses. Guided by the motto “Delivering Results. Improving Communities,” the firm is committed to preserving workforce housing and improving the communities it serves. For more information, visit www.lionreg.com.
Contact: Marisa Vallbona, 619-708-7990, Marisa@IdeaHall.com
