Miami, FL-based Monument Capital Management, an A-Rod Corp (i.e., the former Yankee) company, has launched Monument Opportunity Fund V, its fifth value-add workforce housing fund and the largest to date.

“The rising cost of homeownership coupled with housing shortages, underscore the need for workforce housing across the country. We believe this will continue to be one of our nation’s greatest needs in the foreseeable future,” says Erin Knight, president of MCM. “We are proud to be a small part of providing high-quality housing to a broad range of the workforce.”

MCM, which will soon celebrate its 10th anniversary, will chiefly focus on continued growth within specified Sunbelt States and select growth areas in the Midwest.

MCM has acquired almost $1 billion of real estate assets across 14 states through opportunity funds and joint ventures. It employs a strategy that focuses on secondary and tertiary markets with excellent job growth, a key component of high-need areas for workforce housing.

Photo: MCM-acquired Sterling Hills in Johnson City, TN