Lincoln Avenue Communities Launches First Affordable Housing Fund

SANTA MONICA, Calif., Sept. 16, 2026 /PRNewswire/ -- Lincoln Avenue Communities ("LAC"), one of the nation's largest owners, private investors, and developers of affordable housing, today announced the launch of the ~$260 million Wilshire Core Plus Housing Impact Fund LP (the "Fund"). The national fund will be managed by an affiliate of Lincoln Avenue Communities and has received an anchor investment from Morgan Stanley.

"The launch of the Wilshire Core Plus Housing Impact Fund supports our long-term strategic vision for impact investing across multiple platforms with the broader ambition of addressing affordable housing needs across the country," said Co-Founder and CEO Jeremy Bronfman. "For more than a decade, LAC has worked to deliver high-quality, affordable homes in communities that have been impacted by the nationwide housing crisis. This Fund allows us to scale that work in a meaningful way, creating lasting returns for residents, neighborhoods and investors alike."

As the Fund's investment manager, LAC will draw on its years of experience developing, rehabilitating and operating affordable housing communities across the country. LAC currently owns affordable housing assets with a total value of more than $7 billion across 33 states and has been recognized as the nation's leading developer of affordable housing for the past two years in a row by Affordable Housing Finance. As the Fund's anchor investor, Morgan Stanley is continuing its commitment to help drive meaningful impact in underserved communities nationwide.

The Wilshire Core Plus Housing Impact Fund will leverage LAC's institutional approach toward impact investing, drawing on industry knowledge, relationships and scale to purchase income restricted multifamily communities nationwide. By preserving the affordability of existing homes and improving the quality of housing in underserved neighborhoods, the Fund aims to provide lasting benefit to the residents and communities it serves.

The Fund further builds on LAC and Morgan Stanley's long-term partnership to invest in and strengthen communities. For the past six years, LAC and Morgan Stanley have collaborated with the National Baseball Hall of Fame and Museum on a landmark multi-year educational outreach program, hosting after-school programs using award-winning Hall of Fame curriculum for students living in LAC affordable housing communities.

"Together with LAC we are working to generate much needed quality affordable housing in this country," said Mike Mantle, Head of Community Development Finance, Morgan Stanley. "This fund will also support residents through programs such as educational outreach in collaboration with the Baseball Hall of Fame, furthering our broad efforts to help communities thrive."

Together, LAC and Morgan Stanley are committed to addressing the nation's housing crisis by investing in communities and supporting the residents who call our properties home. The Wilshire Core Plus Housing Impact Fund will expand that reach, delivering quality, affordable homes to thousands of families, seniors and individuals nationwide.

About LAC: Lincoln Avenue Communities (LAC) is one of the nation's leading developers, investors, and operators of affordable and workforce housing, providing high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. LAC is a mission-driven organization with a presence in 33 states and a portfolio of 200+ properties comprising 35,000+ units housing over 100,000 residents.

SOURCE Lincoln Avenue Communities