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.
|Investment Discipline||Social Impact|
- 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.
See our term sheet