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9/12/25
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Manulife Investment Management and TruAmerica Multifamily have teamed up to form a $1 bil affordable housing joint venture. The programmatic partnership represents a significant expansion of both firms’ affordable housing platforms.
The new venture will acquire general partner interests in a geographically diverse portfolio of high-quality, income-restricted assets backed by Low Income Housing Tax Credits. With a fundamental and chronic undersupply of housing across the U.S.—compounded by rising construction costs, elevated interest rates, and widening rent burdens—demand for affordable housing now far outpaces available inventory.
The new platform is named Anchor Point Residential and will debut with the acquisition of a 51-property, 6,000-unit portfolio constructed between 2003 and 2023. The properties are located across major metro areas in California, Texas, and Washington, including Los Angeles, San Diego, Orange County, Sacramento, Bakersfield, Palmdale, Austin, Houston, and Dallas-Fort Worth.
“Today’s news reinforces Manulife IM’s commitment to find strategic solutions to increase access to affordable housing and gain exposure to favorable fundamentals across the housing sector,” said Marc Feliciano, Global Head of Real Estate, Manulife IM. “Together with TruAmerica, a leading owner and operator in workforce housing, we are focused on the preservation of Affordable Housing to ensure these essential communities remain accessible for thousands of residents across the country.”
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