Berkeley Terrace Apartments involved the acquisition and rehabilitation of an existing Section 8 residential community located in Irvington, Essex County, New Jersey less than 15 miles west of New York City. Built in 1955, the property sits on 5.9 acres of land across two parcels with one of the seven buildings located across the street from the rest of the community. Berkeley Terrace consists of 94 one-bedroom units and 56 two-bedroom units (with 1 two-bedroom unit used as a management office) in garden-style buildings, 3 three-bedroom units in townhouses, and 63 off-street parking spaces. All units are restricted to households earning 60% or less of the Area Median Income (AMI).

The construction and permanent tax-exempt bond financing was provided by R4 Capital Funding to renovate the property and preserve its long-term affordability.