More Institutional Investors Warming Up to Workforce, Affordable Housing

October 9, 2017                       By: Randyl Drummer

Pension Funds, Insurers and Private Equity Jumping Into Tight US Market for Affordable Apartment Housing

Institutional investors are shelling out significant amounts of capital to take debt and equity positions in affordable and workforce housing as the long U.S. apartment bull market enters its later stages and yields tighten on new upscale apartment supply in major U.S. markets.

TruAmerica Multifamily, Beacon Communities and other apartment developers and operators have been expanding their stakes in the affordable and workforce space, while investment managers and equity and debt funds such as LEM Capital LP, TH Real Estate and Sabal Capital Partners have all recently announced ventures with well-financed funds and companies such as Allstate Corp. and large pension funds such as California State Teachers' Retirement System (CalSTRS) and Pennsylvania Public School Employees' Retirement System, which are ramping up allocations to workforce and affordable housing acquisition and development..........Read More