AIC CEI-Boulos Opportunity Fund Backs SoLa Impact's Affordable Housing Initiative

Deal News | Mar 31, 2025 | CEI Ventures Inc

AIC CEI-Boulos Opportunity Fund Backs SoLa Impact's Affordable Housing Initiative

The AIC CEI-Boulos Opportunity Fund, a joint venture between CEI-Boulos Capital Management and Allivate Impact Capital, has announced a $12 million equity investment in SoLa Impact's 43rd and Vermont Affordable Housing Project. This initiative, located in Los Angeles' Vermont Square neighborhood, plans to develop 188 affordable apartments, primarily for residents experiencing homelessness. The modular construction, facilitated by Model/Z, promises expedited development and reduced environmental impact. SoLa Impact, led by Martin Muoto, is a prominent minority-owned developer focused on social impact through affordable housing. Partnering with the AIC CEI-Boulos Opportunity Fund enables SoLa Impact to leverage investments aimed at substantial community improvement, especially in Opportunity Zones. The project also garners additional $35 million from Acore Capital, underscoring the commitment to providing much-needed housing solutions in a post-wildfire Los Angeles.

Sectors

  • Real Estate Development
  • Impact Investing

Geography

  • United States – The project and investments discussed are taking place in Los Angeles, California, which is a part of the United States.
  • Los Angeles, California – The 43rd and Vermont Affordable Housing Project is specifically situated in Los Angeles, addressing local housing crises and demographics.

Industry

  • Real Estate Development – The article discusses a major affordable housing project in Los Angeles, highlighting significant activities in real estate development, specifically in the construction and management of residential properties.
  • Impact Investing – The investment by AIC CEI-Boulos Opportunity Fund into SoLa Impact's project is a classic example of impact investing, combining financial returns with positive social impacts.

Financials

  • $12 million – Investment by the AIC CEI-Boulos Opportunity Fund into SoLa Impact's affordable housing project.
  • $63 million – Total project cost for the 43rd and Vermont Affordable Housing Project.
  • $35 million – Construction financing secured from Acore Capital.

Participants

NameRoleTypeDescription
SoLa ImpactDeveloperCompanyA minority-owned developer focused on social impact projects, handling the 43rd and Vermont Affordable Housing Project with a commitment to community improvement.
AIC CEI-Boulos Opportunity FundInvestorCompanyA joint venture between CEI-Boulos Capital Management and Allivate Impact Capital, investing in Opportunity Zone projects for both financial returns and social impacts.
CEI-Boulos Capital ManagementPE FirmCompanyA real estate investment management firm prioritizing social impact through opportunity zones and community reinvestment.
Allivate Impact CapitalImpact InvestorCompanyFirm focused on impact investing, creating measurable positive social outcomes alongside financial returns.
Model/ZModular Construction CompanyCompanySpecializes in modular housing units for efficient, sustainable building practices in affordable housing projects.
Acore CapitalLenderCompanyProvided $35 million in construction financing to support the SoLa Impact housing project.
Walker & DunlopFacilitator of FinancingCompanyThe company facilitated the construction financing for the project.