Greystone Housing, BlackRock Impact form JV to provide financing for the construction or rehabilitation of affordable housing across the U.S.

10/18/2024

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IREI

• Subcategory: Capital Markets: Debt, Capital Markets: Fund, MF: Affordable

• Tag: Investment | JV-Partnership

• Additional Filters-Subcategory: Capital Market: Bridge Loan, Capital Markets: Debt-Loan, Capital Markets: Debt-Refinance, Capital Markets: Fund-Debt

• Company: BlackRock (NYSE: BLK), Greystone

Greystone Housing Impact Investors LP announced the formation of a joint venture with BlackRock Impact Opportunities (BIO), to invest in loans that will finance the construction and/or rehabilitation of affordable multifamily housing properties across the United States.

The joint venture aims to assist in addressing this deficiency by providing construction financing solutions that increase the supply of affordable multifamily housing units nationwide. The joint venture will seek to make available approximately $500 million of gross financing for properties in undercapitalized communities.