CIM Group and Bryant Group Ventures (BGV), founded by entrepreneur and thought leader John Hope Bryant, have announced the launch of CIM-BGV Impact Ventures, a new partnership focused on expanding access to affordable housing across the United States.
As part of the joint initiative, the CIM-BGV Affordable Housing Impact Fund (AHIF) completed its first closing on October 17, securing more than $250 million in total investment capacity through a combination of fund equity and loan commitments. This first round of capital positions the fund to reach its $1 billion investment goal within a year, aiming to make a significant impact on the nation’s affordable housing crisis.
Flagstar Bank and Truist Bank are anchor investors in the fund, with additional equity participation from City National Bank and a host of other leading financial institutions.
CIM-BGV Impact Ventures reports a robust pipeline of potential projects and anticipates beginning investment activity in the coming months. Target markets include Southern California, Georgia, the Washington, D.C. metropolitan area, the New York metro area, and Florida.
The venture builds on CIM Group’s track record of developing affordable housing, exemplified by projects such as Parkview Living in Los Angeles.
This collaboration aligns with both organizations’ mission to generate positive social outcomes through strategic investment in housing and community development.
