Canyon Partners Real Estate to launch second fund
Canyon Partners Real Estate and Citi Community Capital have announced the formation of a second fund in their Canyon Multifamily Impact Fund strategy.
CMIF II will invest an additional $50 million in multifamily workforce housing, which is expected to provide long-term, material, positive impacts to residents in several major underserved communities in the United States.
CMIF II will identify and evaluate potential investment opportunities in certain urban areas in California and Illinois. And CMIF II will target specific metropolitan areas in Florida.
The fund will seek to enhance the properties it acquires through targeted physical upgrades and property management improvements that enhance day-to‐day operations, sustainability, and the quality of life for its residents.
After acquiring a property, CMIF will implement programming that provides educational opportunities for the residents as well as healthcare and health screening initia