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New REIT Will Focus on Affordable Housing

The company will mostly buy, or create, multifamily assets in Opportunity Zones, reportedly becoming the first such organization to do so.

By Rayna Katz | October 08, 2020 at 07:10 AM

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Avanath Capital Management and MacFarlane Partners, two of the largest African American-owned real estate companies in the US, have jointly filed paperwork with the SEC to create a new REIT. It is reportedly the first REIT to focus on Opportunity Zones, though it will look to other properties as well.

The company will “invest in, develop, redevelop and manage mostly affordable and workforce multifamily properties in Opportunity zones, in dynamic, US metropolitan areas,” the filing said.

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