Comunidad Partners Closes Inaugural Impact/ESG Housing Fund Totaling $300M
Austin-based Comunidad Partners, who was recently named Freddie Mac’s 2021 Impact Sponsor of the Year, closed its inaugural discretionary, commingled institutional fund, Comunidad Social Impact Multifamily Assets Fund I, with $300 million of total equity commitments.
The fund, which was oversubscribed and raised within seven months, surpassed its original target size of $200 million. Comunidad was advised by Incubation Capital Partners, a Chicago-based capital markets and advisory firm that specializes in working with institutional real estate investment managers across a variety of structures, including commingled funds, programmatic joint ventures, recapitalizations, and entity-level investments.
According to Antonio Marquez, Managing Partner of Comunidad Partners, the fund is an investment vehicle that is dedicated to affordable and workforce housing in the U.S. that integrates ESG / Social Impact and PropTech, with an emphasis on dynamic yet underserved communities throughout the Sun Belt region.
To date, Comunidad has acquired 11 assets (1,832 units) within the fund totaling approximately $110 million in invested equity. The assets are located in Austin, Texas; Dallas-Fort-Worth, Texas; Atlanta, Georgia; and the Carolinas.
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.