At a time when a quarter of all renters – 11 million Americans – spend more than half their income on rent, we can’t risk losing more affordable and workforce homes to market-rate investors.

Working together with investors and developers, we preserve and improve affordable and workforce homes to keep rents affordable. We do it so that families aren’t pushed out of their communities – from their schools, jobs and doctors – the very life they’ve built.

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Track Record

Investment Discipline Social Impact
  • $1B+ Assets Under Management
  • Decades of fund management expertise
  • Institutional-quality asset management and investor reporting
  • 13,000+ homes preserved and improved
  • Average home is affordable to households earning 55% of area median income
  • 70% of households have access to resident services
  • 53% of homes have green enhancements

Focus Areas

  • Preservation: Keep well-located homes affordable and well maintained
  • Green: Implement low-cost, high-impact energy-efficient retrofits
  • Upward Mobility: Provide resident services and create more inclusive models of real estate investing where residents build wealth alongside investors
  • Health: Collaborate with health care providers to promote health and wellbeing
  • Racial Equity: Partner with Black, Indigenous, and People of Color (BIPOC) and other housing providers who have been historically marginalized


We partner with nonprofit and for-profit developers to preserve and improve affordable and workforce homes. We know that every project is a long-term commitment that requires the stability, flexibility and creativity of an experienced partner.

  • Financial Stability. The funds we manage have acquired more than $1 billion of affordable and workforce homes, representing nearly 100 unique properties and more than 13,000 homes across the country. And we’re able to tap into the full financial power of Enterprise, with 40+ years’ experience and $44 billion invested.
  • Flexibility & Creativity. We’re a team of experienced real estate and impact investing experts who deeply understand the nuances of the asset class to bring creativity to the structuring of new acquisitions.
  • Community Impact. Residents and communities are our highest priority, which is why 70% of our properties connect to resident services.

How We Partner with You

We make equity investments through joint ventures with mission-aligned housing providers, with a focus on creative structuring, property tax relief, green retrofits, modest value-add strategies and improved asset management. In the process, we leverage up to 80% loan-to-value and require that our joint venture partners co-invest at least 10% of the equity capital.

Our partnership approach – tight alignment with our developers and added value through our expertise and creativity – has led to a strong track record of repeat developer partners across the country.
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Northern California


We partner with investors to preserve and improve affordable and workforce homes while delivering financial returns. What sets us apart is our financial discipline, risk mitigation and unwavering commitment to positive community impact.

  • Financial discipline. The funds we manage own more than $1 billion of affordable and workforce homes, totaling more than 13,000 homes. We have near 100% repeat investor participation, and are always identifying new investor partners to work with to further our impacts. And we take a balanced, responsible approach to meet our funds’ financial and social objectives. We measure our results and hold ourselves accountable for financial and impact outcomes.
  • Risk Mitigation. Every property we invest in meets our stringent due-diligence criteria and credit standards. And by investing in stabilized affordable and workforce homes, we avoid common real estate risks that emerge during construction or lease-up periods.
  • Community Impact. Residents and communities are our highest priority, which is why 70% of our properties connect to resident services.

How We Partner with You

We raise and manage equity for impact investors and offer a series of national preservation funds. We also co-create managed accounts with investors who are interested in pursuing more specific social impact goals. Our partnership approach has led to near 100% repeat investor participation.

Deal Selection and Structuring Asset Management High-Impact
  • Stabilized properties with strong cash return profile
  • Unique joint venture partnerships with adaptable equity
  • Access to off-market, non-brokered transactions
  • Dedicated, experienced team
  • Strong relationships with local operating partners
  • Data-driven analysis and institutional-quality reporting
  • Theme-driven funds designed to meet investors' impact goals
  • Wealth-building models for residents
  • Racial equity through BIPOC partners
renter wealth creation fund illustration of people in town
Renter Wealth Creation Fund
Investors can disrupt a system that disadvantages renters, help close the wealth gap, and benefit from investing in new wealth-building opportunities for renters.

Named to the ImpactAssets 50 for fifth straight year

Meet Our Team