Comunidad Partners Secures $300M For Affordable Housing
Comunidad Partners secured a $300 million financing commitment through Bellwether Enterprise and Freddie Mac that supports the creation or preservation of affordable workforce housing throughout the United States. The initiative is backed by Freddie Mac’s Tenant Advancement Commitment, which offers competitive financing to operators who agree to maintain or enhance affordability for the duration of the loan purchased by Freddie Mac at properties that do not have regulatory rent restrictions.
As part of the arrangement, Comunidad is also providing social services at each of these properties to support resident health and wellness, youth and adult education, and economic advancement.
“The need to create and preserve affordability in housing while simultaneously integrating environmental, social and governance principles into our communities at scale was the thrust behind crafting this innovative capital markets product in partnership with Freddie Mac,” said Antonio Marquez, managing partner at Comunidad. “We anticipate this new social impact financing commitment will pave the way for thousands of workforce/affordable units to remain affordable, with the added benefit of improved social impact outcomes for our residents in the years ahead.”