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Canyon Launches Fund with Santander, Targets $100M in Northeast MF’s
Los Angeles-based Canyon Partners Real Estate LLC launched Canyon Multifamily Impact Fund IV, a platform with financing partner Santander Bank that plans to acquire and manage roughly $100 million of workforce housing apartment communities throughout the Northeast U.S. markets, serving low-to-moderate income residents. The platform seeks to enhance multifamily properties by making material, long-term capital improvements, and instituting social impact initiatives in low-and moderate-income communities across the country.
Resident programs encompass a variety of education, healthcare and community initiatives designed to benefit both residents and the communities in which they live and work. On-site programs often include afterschool tutoring, financial education courses, employment assistance, health services, community sports activities and partnerships with local agencies and community groups.
Since inception, the Canyon Multifamily Impact platform has acquired more than $475 million of workforce housing, representing over 4,000 units and 3.4 million square feet. Canyon’s partnership with Santander is the fourth within the Canyon Multifamily Impact platform.
*Pictured Santander’s Seth Goodall
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