$1B Social Impact Fund Doubles Portfolio

Gee Kim is the president of Multifamily Housing Initiatives for Turner Impact Capital.

LOS ANGELES—Turner Impact Capital has acquired four workforce housing communities totaling 1,300 units in Dallas, Austin and Las Vegas through its Turner Multifamily Capital Fund. The $1 billion fund seeks to address the dearth of affordable workforce housing by acquiring properties and adding vital amenities that will help to enrich the lives of residents. This most recent series of acquisitions doubles the fund’s portfolio size, brining its total unit count to 2,500.

“We selected the properties because they were located in large and growing markets, both in terms of population and employment,” Gee Kim, president of Multifamily Housing Initiatives for Turner Impact Capital, tells GlobeSt.com. “We like populated and diverse communities where there is a shortage of workforce housing. We also look to enrich communities, and given the size and demographic in terms of the residents we knew that our programs designed to focus on improving education, healthcare and security could really meet the needs of our target demographic.”