Lion Real Estate Group Acquires 168-Unit Institutional-Quality LIHTC Community
The firm acquired Timber Ridge from PedCor Partnership, strengthening their portfolio throughout the Sun Belt
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LYNCHBURG, Va., Aug. 19, 2026 (GLOBE NEWSWIRE) — Lion Real Estate Group (LREG), a vertically integrated real estate investment and management firm, has acquired Timber Ridge, a 168-unit affordable housing community operating under the Low-Income Housing Tax Credit (LIHTC) program, in Lynchburg, Virginia. The almost 181,500-square-foot property on just over 21 acres is close in proximity to major employers, transportation arteries and prominent retailers. This latest acquisition further enhances Lion’s footprint in the Southeast / Sun Belt markets.
“Timber Ridge fills a real need in a market, where employers like BWX Technologies, Centra Health and Liberty University anchor steady demand for quality, affordable housing. Our job is stewardship, investing in the property and its operations so it remains a quality place to live for the residents who call it home,” said Mory Barak, co-CEO and co-founder, Lion Real Estate Group.
Built in two phases in 2008 and 2009 under the Section 42 LIHTC program, Timber Ridge includes 168 one-, two- and three-bedroom apartment homes ranging from approximately 744 to 1,283 square feet. The community is 100% affordable, yet still offers robust amenities such as a clubhouse, playground and pool to its residents. Existing regulatory agreements preserve the property’s affordability restrictions through 2058 for Phase I and 2059 for Phase II, ensuring sustained demand while helping to address the area’s need for well-maintained affordable housing. The acquisition price and terms were not disclosed.
“Our deep relationships across the multifamily industry continue to give us access to high-quality acquisition opportunities like this one, often before reaching a broader market. Operational expertise allowed us to scale to nearly $3 billion in transactions since our founding, and it’s exactly what we’ll bring to Timber Ridge,” said Jeff Weller, co-CEO and co-founder, 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 nearly $3 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, 858-467-7990, Marisa@IdeaHall.com
