Advantage Capital Invests in Georgia Housing
Deal News | Nov 12, 2024 | Advantage Capital
Advantage Capital, a prominent impact investment firm, has concluded the financial arrangements for three affordable housing projects in Georgia, aiming to provide 623 housing units in Atlanta and Lawrenceville. Utilizing $53 million derived from state Low-Income Housing Tax Credits, the firm focuses on bridging the housing gap for families and seniors in need. The projects include new multifamily and age-restricted developments as well as the rehabilitation of existing senior facilities. Advantage Capital collaborates with developers Zimmerman Properties and Mansermar Development and Rebuild America to deliver these essential projects amid ongoing housing challenges in the state.
Sectors
- Affordable Housing Development
- Impact Investment
Geography
- United States – Advantage Capital operates within the United States, focusing its efforts on regions within national borders.
- Georgia, USA – The housing developments discussed in the article are located in Georgia, specifically in Atlanta and Lawrenceville, making this state a focal point of the firm's investment efforts.
Industry
- Affordable Housing Development – The article focuses on the financing and construction of affordable housing developments in Georgia, a core aspect of the real estate and housing industry geared towards underserved communities.
- Impact Investment – Advantage Capital is identified as an impact investment firm emphasizing sustainable and socially responsible investment strategies, particularly in underserved areas.
Financials
- $53 million – Leveraged by Advantage Capital in state Low-Income Housing Tax Credits to finance the affordable housing developments.
- $99.9 million – The cost of the new multifamily development, The Flats at Stone Hogan in Atlanta.
- $68.9 million – The cost of the new age-restricted development, The Villas at Stone Hogan in Atlanta.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Advantage Capital | Investing Firm | Company | Advantage Capital is an impact investment firm that provides financing solutions to underserved communities, with a commitment to affordable housing and renewable energy. |
| Zimmerman Properties | Developer | Company | Developer of the Flats at Stone Hogan and Villas at Stone Hogan, focusing on new multifamily and age-restricted housing projects. |
| Mansermar Development and Rebuild America | Developer | Company | Developers responsible for the acquisition and rehabilitation of Applewood Towers I and II in Lawrenceville. |
| Tori Cook | Vice President | People | Vice President at Advantage Capital, involved in addressing housing shortages and advocating for affordable housing solutions. |