Lincoln Avenue Communities Launches $260M Affordable Housing Fund
Lincoln Avenue Communities (LAC) has launched the Wilshire Core Plus Housing Impact Fund LP, a ~$260 million national fund aimed at addressing affordable housing needs across the United States. The fund is managed by an affiliate of LAC and includes an anchor investment from Morgan Stanley. This initiative aligns with LAC's long-term strategic vision for impact investing and its mission to provide high-quality homes in underserved communities. LAC, which currently owns over $7 billion worth of affordable housing assets across 33 states, has been recognized as the leading developer of affordable housing by Affordable Housing Finance. The fund will focus on purchasing income-restricted multifamily properties nationwide while preserving affordability and improving living conditions for residents in these neighborhoods. Morgan Stanley's involvement continues its commitment to community development finance. LAC and Morgan Stanley have also collaborated with the National Baseball Hall of Fame on educational outreach programs, furthering their efforts to support communities beyond housing.
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Topics: affordable_housing impact_investing M&A private_equity