Los Angeles-based multifamily developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm with more than $50 billion in assets under management have launched a platform to deploy significant capital into the acquisition and development of institutional-quality affordable housing across the U.S.

The venture launches with an initial pipeline of 11 ground-up development sites in high-resource markets in Northern and Southern California as well as South Florida. Additional target markets will include the Carolinas, Tennessee, Texas, the Northeast and other high-opportunity regions.

“This venture represents a major step forward in addressing the nation’s growing need for modern, clean and safe affordable housing,” said Michael Sorochinsky, CEI’s founder and CEO. “By assembling substantial financial resources with CEI’s development and operational expertise, we are building a platform that can deliver high-quality, attainable communities in locations that offer real opportunity for residents. Our goal is not just to build housing, but to create lasting value—for families, for communities and for our partners.”

On December 4^th, find out what’s really happening in today’s deal ecosystem at Connect Southeast Multifamily when the industry’s leaders unpack where capital is going, how underwriting is evolving, and what creative financing strategies are gaining traction in this shifting landscape. Register to be there at www.ConnectSEMF2025.com