CRA Affordable Housing Fund
United States of America
Last updated 12 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (112)
CRA Affordable Housing Fund makes investments that preserve affordable housing by maintaining rents below 80% of area median income in cities throughout the United States.
Financial description
Fund preserves affordable housing, maintaining rents below 80% AMI. Manager renovates with allocations of low income tax credits to insure long term affordability. Fund also assists financial institutions with satisfying CRA investment requirements.
8 years
of track record
2015
the year funded
35,000,000 USD
AUM
Asset manager
Key performance indicators
Fund overview
Asset manager: CRA Affordable Housing Fund / PHG Financial
Product track record: Fund has 8 years of track record
Target IRR: 8%
Committed Capital: 0 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - no committed capital
Style/Stage: Core
Inception year: 2015
Vintage year: 2016
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: 01/04/2017
Product term: 5 year term
Assets under management: 35,000,000 USD (US Dollar)
Investment size: Min: 2,000,000; Max: 20,000,000; Avg: 8,000,000
Co-investment policy: Only with LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 1
Fund investments to date exited or repaid: 0
Management fee: 1.5%
Carried interest: 5%
Hurdle rate: 7%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Website: http://www.phgfinancial.com
Phone number: 3126375673.00
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Gerald Haan
Manager
Impact Performance
n.a.
Impact thesis
Fund preserves affordable housing, maintaining rents below 80% AMI. Manager renovates with allocations of low income tax credits to insure long term affordability. Fund also assists financial institutions with satisfying CRA investment requirements.
Impact Management
n.a.