Cypress Equity Investments (CEI), an institutional multifamily developer and real estate investment company, and LightWell-Keystone (LWK), a real estate private equity firm focused on the acquisition and operation of attainable value-added multifamily assets, have formed a strategic partnership to add density to value-added workforce housing.

The strategy addresses the growing Los Angeles housing shortage by capitalizing on a recent state law that allows investors to add net new units to existing multifamily assets.

The partnership aims to scale LWK’s existing portfolio to 5,000 multifamily units over the next five years.

“We look forward to capitalizing on this legislative catalyst to deliver accessible housing units at scale,” says Michael Sorochinsky, founder and CEO of CEI. “This new legislation is a significant development for housing in California,” says Austin Nissly, co-founder and partner of LWK. “The partnership allows us to add much-