DALLAS, TX – Turner Impact Capital, one of the country's largest real estate investment firms committed to social influence, has added an additional apartment building in Dallas to its portfolio of affordable workforce housing, bringing the company's total units acquired to over 10,330 .
The 270-unit Ventana Apartments were acquired by the Turner Multifamily Impact Fund II last month. The fund and its predecessor, Turner Multifamily Impact Fund I, currently own nearly 1,700 shares in the Dallas-Fort Worth area. The acquisition brings Turner Impact Capital closer to its goal of investing up to $ 2 billion in the acquisition of up to 20,000 shares across the country over the next several years.
"The COVID-19 pandemic has caused significant economic disruption and exacerbated the affordability crisis in Texas and across the country," said Bobby Turner, CEO of Turner Impact Capital. "Our innovative investment model has proven that it can deliver high returns to investors while improving people's lives through affordable housing for workers combined with comprehensive services for local residents."
Turner Multifamily Impact Funds maintain and enrich workforce accommodation in underserved communities across the country with resident-centric programs such as after-school homework assistance, access to health care and fitness activities, and green initiatives to improve the quality of life for residents, environmental impact and property operations.
The Turner Multifamily Impact Funds portfolio consists of over two dozen residential communities in nine densely populated, ethnically diverse metropolitan areas, including Washington, DC, Chicago, Atlanta, San Antonio, Austin, Dallas-Fort Worth, Houston, Las Vegas and Seattle.
With a well-diversified economy, the Dallas-Fort Worth area is consistently rated as one of the healthiest economies in the country and has become a core market for Turner Impact Capital. Ventana Apartments offer convenient access to employment centers and amenities such as the Galleria Dallas Mall, the Village on the Parkway Lifestyle Center, and Addison Circle.
"Maintaining stable, affordable housing is more important than ever. We continue to actively invest in communities and provide home sellers with a quick and secure deal," said Gee Kim, president of the company's Multifamily Housing Initiatives. "We look forward to expanding our presence and impact in the DFW area."
Ventana Apartments amenities include a clubhouse, business center, swimming pool, sports field, fitness center, playground, and laundry facilities. The fund will also make improvements such as retrofits for LED lighting and Energy Star appliances as part of its targeted sustainability initiatives.
The Turner Multifamily Impact Funds are a core component of Turner Impact Capital's holistic approach to investing in social impact. The company has raised nearly $ 1.5 billion in capital, unlocking more than $ 3 billion in investment potential while directly impacting more than 100,000 lives in underserved communities across the United States. Harnessing market forces, the company's investments are sustainable, scalable, and permanent – they improve lives and empower communities while delivering high financial returns for socially conscious investors.
Turner Impact Capital also manages the Turner-Agassi Charter School Facilities Funds to facilitate the development of world-class charter schools in underserved communities in the United States, as well as the Turner Healthcare Facilities Fund, which provides community health facilities with proven health care providers while improving access to better quality Care for residents of urban communities with low and middle income.