Social Impact Investment Firm Enlists Actor/Activist Eva Longoria to Spur Investment in Workforce Housing
May 16, 2016
Turner Impact Capital, a Los Angeles-based investment firm focusing on social-impact investing, is joining forces with actor, business owner and social activist Eva Longoria to acquire workforce housing.
The strategy has proven successful for Turner Impact Capital’s CEO, Bobby Turner, the former chairman and CEO of Canyon Capital Realty Advisors, who has partnered with such athletic celebrities as tennis star Andre Agassi and basketball legend Magic Johnson.
The firm is aiming to acquire up to $1 billion in apartment communities in urban markets throughout the U.S. through its Turner Multifamily Impact Fund. In a twist to other multifamily investors, TIC’s investment strategy is focsued on acquiring apartment communities whose residents earn less than 80% of the area median income and live in densely populated, ethnically diverse communities throughout the US.