SoLa Impact announced the launch of its $1 billion "Black Impact Fund" to invest exclusively in Black and Brown communities in major urban markets.
The fund will consist of a $500 million Opportunity Zone fund and a side-by-side, $500 million non-Opportunity Zone fund.
"After a decade of successfully investing in Los Angeles' African-American and Latinx communities, we have learned a great deal about how to deliver near-term and long-term dividends for both the investors and the community," Martin Muoto, CEO of SoLa Impact and founder of the Black Impact Fund, said in a statement. "Ultimately, it is about creating shared prosperity and racial equity. In light of all the country is going through, it is clear the size and scope of the problem requires a bold and ambitious response. The time to act is now."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
