CIM Group and Bryant Group Ventures have increased the investment capacity of their affordable housing impact fund to more than $370 million after securing a commitment from Fifth Third Bank and additional capital from existing investors.
The CIM-BGV Affordable Housing Impact Fund’s latest closing included Fifth Third as a new investor, along with increased commitments from Truist Bank and Flagstar Bank. The fund’s total capacity combines investor equity with access to loan financing.
The vehicle is managed by CIM-BGV Impact Ventures, an impact-focused partnership between Los Angeles-based real estate and infrastructure manager CIM Group and Bryant Group Ventures, which was founded by entrepreneur and financial-literacy advocate John Hope Bryant.
The partnership seeks to create and preserve affordable housing nationwide through acquisitions of existing properties and ground-up development. The fund is actively evaluating and advancing opportunities in Southern California, Georgia, Florida, the Washington, D.C., metropolitan area and the New York metropolitan region.
CIM Group operates across real estate and infrastructure as an owner, operator, lender and developer. Bryant Group Ventures focuses on investments and partnerships intended to expand economic opportunities and community development.
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