JBG SMITH, a leading real estate company, has recently launched LEO Impact Capital (LEO), an investment management platform with a focus on acquiring and preserving middle-income housing in rapidly growing neighborhoods. This new venture aims to build upon the success of JBG SMITH’s Washington Housing Initiative Impact Pool by consolidating its impact investment activities.
Since its establishment in 2018, the Impact Pool has invested over $115 million towards creating and preserving more than 3,000 housing units across DC, Maryland, and Virginia. With LEO’s mission to address the affordable housing crisis for “missing middle” Americans – workers such as teachers, nurses and firefighters who earn too much to qualify for subsidies but struggle with market rents – this initiative is set to make a significant impact.
According to JBG SMITH CEO Matt Kelly: “LEO will benefit from our team of dedicated professionals who possess extensive experience in investing and operating affordable workforce housing. This will not only generate fee income for JBG SMITH but also strengthen our relationships within local communities.”
