Kimpact

Date: 2019

Asset Class: Real Estate

Description:  The Kimpact strategy purchases Low Income Housing Tax Credit assets ignored or mispriced by institutions, mismanaged by developers and owners, that can be improved and run more efficiently, benefiting low-income tenants and communities, while producing an attractive investment return. They partner with local NGOs to offer programs tailored to the needs of the tenants to potentially improve their ability to maintain or improve employment, education, and credit, and with the goal of improving the performance of the assets through increased pride of place, lower maintenance and unit turnover costs, and better credit as tenants pay rent more consistently.

Why We Invest: Kimpact’s multi layered impact of providing quality affordable housing to low income tenants, partnering to improve their well being and providing environmental improvements is very attractive. Doing that while providing market returns is especially so.