Austin-based Comunidad Partners, who was recently named Freddie Mac’s 2021 Impact Sponsor of the Year, closed its inaugural discretionary, commingled institutional fund, Comunidad Social Impact Multifamily Assets Fund I, with $300 million of total equity commitments.
The fund, which was oversubscribed and raised within seven months, surpassed its original target size of $200 million. Comunidad was advised by Incubation Capital Partners, a Chicago-based capital markets and advisory firm that specializes in working with institutional real estate investment managers across a variety of structures, including commingled funds, programmatic joint ventures, recapitalizations, and entity-level investments.
According to Antonio Marquez, Managing Partner of Comunidad Partners, the fund is an investment vehicle that is dedicated to affordable and workforce housing in the U.S. that integrates ESG / Social Impact and PropTech, with an emphasis on dynamic yet underserved communities throughout the Sun Belt region.
To date, Comunidad has acquired 11 assets (1,832 units) within the fund totaling approximately $110 million in invested equity. The assets are located in Austin, Texas; Dallas-Fort-Worth, Texas; Atlanta, Georgia; and the Carolinas.