ImpactAlpha, March 28 — Austin-based Comunidad Partners has raised $300 million in equity commitments from U.S. pension funds, university endowments, foundations and family offices.
The Austin-based fund manager, owned entirely by minorities and women, will invest Comunidad Social Impact Multifamily Assets Fund I in workforce and affordable housing communities in underserved communities, primarily in Sun Belt cities.
The firm will provide “cultural upgrades, community investment initiatives and social impact programs that aid in building a sense of community and improving residents’ lives,” said Comunidad’s Antonio Marquez.
Social programs at Comunidad’s properties include English language skills, financial wellness, jobs training and placement, after-school tutoring and health and wellness.
Comunidad has spent $110 million to acquire 11 housing communities in Atlanta, Austin, Dallas-Fort Worth and the Carolinas.