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3/12/26
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BRIDGE Housing has announced the first close of BRIDGE Housing Impact Fund I with more than $90 mil, enabling the investment platform to accelerate the acquisition, preservation, and construction of affordable and workforce housing in high-cost markets. The initial close brings together a distinguished group of institutional and mission-aligned investors, including KeyBank, BMO, Capital One, U.S. Bank, Century Housing, and PGIM, along with an investment from BRIDGE Housing itself, funded in part by proceeds from a recent unrestricted donation from MacKenzie Scott’s philanthropic organization, Yield Giving.
BRIDGE Housing launched the Impact Fund last year and is on course to raise $350 mil of equity, unlocking approximately $1 bil in total investment capacity. Investment will focus on acquiring properties in California, Oregon, and Washington with expiring affordability restrictions, as well as market-rate units for conversion to regulated affordable housing (serving those earning up to 80% of Area Median Income) and workforce housing (serving those earning 80%-120% of AMI). In select cases, the Impact Fund may consider new construction projects.
The first close marks the beginning of the Impact Fund’s acquisition phase, with BRIDGE Housing anticipating the purchase of approximately 20 properties totaling an estimated 3,500 units. Many of the acquisitions will enable BRIDGE to protect affordable units in West Coast cities that are at risk of losing income restrictions and becoming eligible for market-rate rents in coming years.
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