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Turner Impact Passes 10K Units with Dallas-Area Deal
Turner Impact Capital has acquired a multifamily housing community near Dallas. The 312-unit Bridgeport Apartments in Irving was acquired in late April by Turner Multifamily Impact Fund II. Seller and pricing weren’t disclosed.
The fund and its predecessor, Turner Multifamily Impact Fund I, have acquired 10,067 housing units and are on track to grow their total portfolio up to 20,000 units, representing approximately $2 billion of assets nationwide.
“The global COVID-19 outbreak and resulting economic slowdown have only exacerbated the longstanding housing crisis in Texas and the entire nation, where rent is simply out of reach for far too many,” said Turner Impact Capital CEO Bobby Turner.
He added, “Our resilient investment model has enabled us to reach the significant milestone of 10,000 affordable workforce housing units acquired, positively impacting thousands of families while generating strong risk-adjusted returns for investors.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
