Lincoln Avenue Capital Joins Multifamily Impact Council as Founding Member
Mission-driven affordable housing company joins council as part of their commitment to social impact investing and sustainability
SANTA MONICA, Calif., May 25, 2022 /PRNewswire/ -- Lincoln Avenue Capital (LAC), a mission-driven acquirer and developer of affordable housing, announced today that it will be joining the Multifamily Impact Council (MIC), a non-profit membership organization dedicated to establishing impact investing principles and data-driven impact reporting frameworks for the multifamily housing industry.
LAC joins 20 industry leaders from across the Commercial Residential Real Estate sector in creating the council. MIC's three primary objective, laid out in their recent press release, are:
- Establish and maintain impact investing principles and data metrics that are aligned with global Environmental, Social and Governance (ESG) standards, are specific to the multifamily industry, and can be used to guide investing, product development and asset management decisions;
- Build strategic partnerships with existing ESG certification and research organizations to simplify existing certification processes, develop industry-specific tools to help calculate the social return on investment, and quantify the financial benefit of impact initiatives for multifamily investors;
- Serve as an industry clearinghouse for research, best practices and collaboration opportunities that support the growth of multifamily impact investing in the United States.
"Building and preserving affordable, sustainable housing is one of the most important social causes of our time," said LAC CEO Jeremy Bronfman. "We are excited to join other leaders in the multifamily housing industry to develop best practices that will creating a lasting impact in our field."
"Lincoln Avenue Capital actively looks for new ways to advance sustainable and innovative solutions to America's housing crisis," said Eli Bronfman, LAC Managing Partner. "Multifamily Impact Council's impact investment initiatives mark a large step forward for our industry, and will help us provide high-quality, affordable homes for decades to come."
In addition to Lincoln Avenue Capital, other founding members of the council include Freddie Mac, Fannie Mae, Enterprise and National Affordable Housing Trust. To see a full list of members and to learn more about the organization, please visit multifamilyimpactcouncil.org.
About LAC: Lincoln Avenue Capital is one of the nation's fastest-growing developers, investors, and operators of affordable and workforce housing, providing high-quality, sustainable homes for low- and moderate-income individuals, seniors, and families nationwide. LAC is a mission-driven organization that serves over 50,000 residents across 21 states, with a portfolio of 109 properties comprising 20,000+ units.
About The Multifamily Impact Council: The Multifamily Impact Council (MIC) was created, as a collaborative effort across the Multifamily Industry, to establish and maintain multifamily impact investing principles and reporting guidelines to help increase the flow of global impact capital into affordable and sustainable rental housing in the United States.
SOURCE Lincoln Avenue Capital
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