Logos Development, a company based in Los Angeles and led by Pastor Martin Porter, has enlisted the help of Walker & Dunlop as their exclusive financial advisor. The goal is to secure $400 million in debt and equity capital for the development of over 2,000 affordable housing units on church-owned land in urban neighborhoods along the West Coast. This collaboration will be overseen by Chris Montes, senior director of real estate finance at Walker & Dunlop’s Los Angeles office.
According to Montes, Logos Development has a unique business model that sets them apart from others in their field. Their partnerships with churches, denominations and nonprofits give them an advantage when it comes to controlling land sites at a low cost for building projects that have a meaningful impact on those who need it most.
The focus of this collaboration is on developing mixed-income projects that include workforce housing as well as affordable and social impact housing in underserved areas. By working together with Logos Development’s community-based approach and expertise paired with Walker & Dunlop’s financial resources and experience, they hope to make significant progress towards addressing the shortage of affordable housing options across these regions.
