The fund leverages Lincoln Avenue Communities' extensive portfolio, which currently spans 33 states and encompasses over $7 billion in assets. By focusing on the preservation of existing affordable units, the firm intends to improve housing quality in underserved neighborhoods while meeting investor demand for impact-driven returns. CEO Jeremy Bronfman described the initiative as a logical extension of the company’s decade-long effort to mitigate the national housing crisis.
Lincoln Avenue Communities Unveils $260 Million Affordable Housing Fund
With a $260 million anchor investment from Morgan Stanley, Lincoln Avenue Communities has launched the Wilshire Core Plus Housing Impact Fund. This national vehicle aims to scale the developer’s reach in the affordable housing sector, targeting the acquisition and rehabilitation of income-restricted multifamily properties across the United States.
This launch deepens a long-standing partnership between the two institutions. Beyond financial capital, the collaboration extends to social programming, including a multi-year educational outreach initiative developed with the National Baseball Hall of Fame and Museum. Mike Mantle, Head of Community Development Finance at Morgan Stanley, noted that the fund is designed to pair high-quality housing production with direct support for the families, seniors, and individuals residing in these communities.
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