BRIDGE Housing has launched its first private equity fund to accelerate its mission-driven work to address the affordability crisis for low- and moderate-income families in some of the nation’s costliest housing markets.
BRIDGE Housing Impact Fund I is on course to raise $350 million of equity, enabling about $1 billion in investment potential to acquire, preserve and create affordable and workforce housing in major metropolitan areas in California, Oregon and Washington.
KeyBank and BMO will each invest $25 million to anchor one of the largest equity funds to be sponsored and managed by a nonprofit affordable housing provider. PGIM Real Estate is also a launch investor, and BRIDGE expects to announce additional stakeholders in the coming months.
The Impact Fund attests to BRIDGE Housing’s legacy of capital markets innovation that has helped drive four decades of success in developing high-quality affordable housing at scale. BRIDGE was the first nonprofit
