Arctaris Makes Lead Equity Investment in LA Opportunity Zone

Arctaris Impact Investors, LLC, a Boston-based impact investment firm that supports revitalization projects in underserved communities, made a lead equity investment in Liv DTLA, a $67-million market-rate affordable housing development in the South Park neighborhood of Los Angeles. The transaction marks Arctaris Impact’s first Opportunity Zone investment in Los Angeles.

Funding for the project includes Arctaris’ $13.6-million equity investment, a $34.9-million loan facilitated by the United Way of Greater Los Angeles’ Affordable Housing Initiative, and $18.1 million of equity previously raised through CrowdStreet and other impact-oriented high-net-worth individuals.

The all-studio housing project, located at 1411 S. Flower St., is being developed by Housing Diversity Corp., a Seattle-based large-scale multifamily real estate manager. Construction is 85% complete and the finished project is expected to consist of 227 units, with 40% reserved for extremely low-income and voucher-subsidized households.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.