CoStar Insights

Eva Longoria Teams with Turner Impact Capital to Help Spur Investment in Workforce Housing

by Mark Heschmeyer | May 20, 2016
CSG-032-16-BobbyAndEva
Eva Longoria, Actor, Business Owner and Social Activist, and Bobby Turner, CEO, Turner Impact Capital

Turner Impact Capital, a Los Angeles-based investment firm focusing on social-impact investing, is joining forces with actor, business owner and social activist Eva Longoria to acquire workforce housing.

The strategy has proven successful for Turner Impact Capital's CEO, Bobby Turner, the former chairman and CEO of Canyon Capital Realty Advisors, who has partnered with such athletic celebrities as tennis star Andre Agassi and basketball legend Magic Johnson.

The firm is aiming to acquire up to $1 billion in apartment communities in urban markets throughout the U.S. through its Turner Multifamily Impact Fund. In a twist to other multifamily investors, TIC's investment strategy is focused on acquiring apartment communities whose residents earn less than 80% of the area median income and live in densely populated, ethnically diverse communities throughout the US.

Longoria will become a partner and an ambassador for the Turner Impact fund, helping to raise awareness about the workforce housing shortage. Other investors in the fund include Citi Community Capital, the University of Michigan endowment and the Rockefeller Brothers Foundation. 

"Turner Impact Capital’s investment strategies directly benefit a broad cross-section of urban residents, including Latinos, the youngest and one of the fastest-growing demographic groups in the United States," Longoria said. "Despite their potential, Latinos disproportionately lack housing opportunities and face overwhelming economic challenges. The work of Turner Impact Capital supports the most effective interventions in breaking the cycle of poverty: promoting excellence in our schools and bringing new investment to our cities."

Demand for affordable workforce rental housing in the most populated areas of the country is expanding, with many jurisdictions grappling with the issue, due in part to higher land and construction costs.

Increased development costs and declining public subsidies have constrained development of new units, according to the Urban Land Institute’s Terwilliger Center for Housing. Meanwhile, thousands of older, subsidized developments are approaching the end of their federally required rent restrictions, making them vulnerable to conversion to market rates as value add real estate investors seek yield through repositioning opportunities in a hypercompetitive environment.

According to ULI, nearly half of all renters spend more than 30% of their income on rent and one quarter of all renters spend more than 50% of their income on rent.

Turner Multifamily Impact Fund is among a handful of preservation-focused private equity investment funds seeking to preserve the workforce-housing status of the properties it acquires. Since its launch in a year ago, Turner Multifamily Impact Fund has invested more than $140 million to purchase nearly 2,500 units in Maryland, Florida, Texas and Nevada.

Turner Capital investment strategies:  read the full article HERE.



28 comments

Leave a comment
  1. sirking79 | Oct 19, 2017
    This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses. Kissing Magic
  2. David Cyryl | Aug 26, 2017
    This is quite recently the data I am finding all around. Much obliged for your blog, I simply subscribe your blog. This is a decent blog. Buy Dissertation Online

     

  3. address | Aug 16, 2017
    This is just the information I am finding everywhere. Thanks for your blog, I just subscribe your blog. This is a nice blog..address
  4. find more information | Aug 16, 2017
    I haven’t any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us.find more information
  5. Aaron | Aug 04, 2017
    Social media investment is very useful in the current market. I saw this example on Best Coupon Codes.
  6. Aaron | Aug 04, 2017
    Social media investment is very useful in the current market. I saw this example on <a href="https://www.bestcouponcodes.in/">Best Coupon Codes</a>.
  7. jasmin | Apr 22, 2017
  8. Anne | Mar 07, 2017
    commercial property listingsbuilding for saleWarehouse Space For Leaseoffice for rentcommercial shopping centers for saleavailable warehouse spacebusinesses for saleFind Commercial Propertyindustrial buildings for salecommercial property loansCommercial Realtyoffice spaceIndustrial Building For Salelease commercial propertyCommercial Investment Propertiesoffice rentalrent office spaceOrlando Florida Office Spacecommercial properties for salecommercial mortgage brokerindustrial space for rentcommercial office spaceOffice Warehouse Space For Leasecommercial office space for leasecommercial real estatewarehouse Miamicommercial properties for leasewarehouse space to rentmedical office space for leaseCommercial Property Valuesbuying commercial propertycompanies for salewarehouses for sale Miamicommercial real estate companieswarehouse lease ratescommercial property for sale in njwarehouses for saleCommercial Property Agentscommercial property financebank owned commercial propertiesoffice space for rent nyccommercial realtorscommercial real estate listingscommercial property loan ratescommercial real estate Miamicommercial real estate brokersoffice buildings for salecommercial real estate for salewarehousemiami warehouse for salewarehouse for sale atlantaindustrial property for salecommercial property valueCommercial PropertiesIndustrial Propertiesmedical office space for rentWarehouse For Leasecommercial real estate nycoffice building for salehotel brokersCommercial Buildings For Salecommercial real estate brokerwarehouse space for rentCommercial Real Estate For Leasecommercial real estate companyoffices for saleoffice space for rentMalls For Salecommercial office space for rentManhattan office spacecommercial property loanwarehouse for salewarehouse spaceOffice For Salecommercial building for salecommercial land for salecommercial real estate agentsoffice space in Miamiindustrial properties for salecommercial real estate financingMiami commercial real estatehotel brokercommercial property for sale londonwarehouse space for salecommercial property for sale chicagocommercial real estate loansoffice space Miamicommercial property marketCommercial Buildings For Rentcompany for saleCommercial Property Developmentcommercial rental listingscommercial property for saleResorts For Salecommercial real estate listingoffice building for leasewarehouses for lease commercialcommercial office buildings for salewarehouses for leaseCommercial Rental Propertybuildings for salebusiness for salebonded warehousesHotels For Sale In FloridaHotels For Salewarehouse for sale Miamioffice building properties for saleoffice buildingwarehouse for rentoffice building for rentcommercial real estate mortgage brokersluxury hotels for salewarehouses for rentcommercial properties for rentmiami commercial real estate marketcommercial property mortgage ratesnational commercial real estate brokersbuildings for leaseoffice space for leaseCommercial Propertycommercial real estate lease miamiMiami office for leasecommercial property for leaseoffice space for saleOffices To Leasehotel for saleoffice space rentalmiami office space for rentwarehouse rental rateswarehouses for sale in Miamicommercial real estate mortgageoffices for rentoffice space for lease atlantamiami commercial real estate for saleShopping Center For SaleMall For Salecommercial property for rentCommercial Real Estate Loan Rateshotel motel for salewarehouse buildings for salecommercial property searchcommercial business for salemanhattan office space for rentCommercial Property Listingwarehouseswarehouse for rent Miamicommercial realtorLease Office SpaceOffice Buildings
  9. Anne | Mar 06, 2017
  10. ali | Feb 26, 2017
    The best article I came across a number of years, write something about it on this page.  Non Surgical Body Contouring
  11. Connie | Feb 14, 2017
    Orlando Florida Office Space
    commercial property
    Miami Warehouse Space
    Search Commercial Real Estate
    Sell A Hotel
    commercial property
    Rent Office Space
    Commercial Real Estate Broker
    Warehouse For Sale Miami
    Miami Office Buildings
    Industrial Parks

    11


    Commercial Real Estate Miami Florida
     office space for rent,
    Commercial Real Estate Brokers Florida
    Hotels For Sale
    Miami Rent Warehouse
    Miami commercial real estate
    warehouse
    Commercial Real Estate Brokers
    warehouses for lease

     

    Commercial Real Estate In Atlanta
    Commercial Real Estate Florida
    commercial property
    Office For Lease
    office buildingWarehouses For Sale

    5

    9
    Industrial Property
    Hotel For Sale

    4
    warehouse for rent
    Warehousing Buildings
    warehouse for rent
    Industrial Building For Sale
    commercial real estate Miami
    Commercial Properties
    Office Space For Rent
    warehouse for sale
    Hotel Broker
    Orlando Warehouse Space
    Doral Florida commercial real estate
    Hotel For Sale

    warehouse for lease,
    commercial real estate Doral Florida
    Office Buildings For Sale
    office building
    Commercial Real Estate Broker
    Industrial Property
    Warehouse For Rent Orlando Florida
    warehouses for rent
    Office Buildings For Sale
    Office Space For Lease
    Offices To Lease
    Commercial Property Broker
    Commercial Building For Sale
    Commercial Real Estate Agents
    Office Building For Sale

    commercial real estate
    Warehouse For SaleHotel To Buy
    commercial office spac
    e

    commercial real estate
    Florida Orlando Retail Space
    Commercial Real Estate Loan Rates
    Office For Rent
    Office Space For Lease
    commercial property
    Commercial Real Estate Listing
    Commercial Real Estate Agents
    Commercial Brokers
    Commercial Real Estate For Lease

    commercial real estate,
    Hotels For Sale
    Commercial Real Estate Agent
    warehouse for lease
    6
    Warehouse In Miami
    Commercial Property For Sale
    Orlando Commercial Real Estate

    commercial real estate for sale
    miami warehouse for sale
    Miami Florida Commercial Real Estate
    Miami Commercial Real Estate
    warehouses for sale
    Industrial Properties
    Office Space Miami Florida
    warehouse space
    Hotel For Sale
    Miami commercial real estate
    warehouses for rent
    Orlando Florida Commercial Real Estate Brokers
    Industrial Property
    Commercial Property For Sale
    Miami Warehouse For Lease
    Shopping Center For Sale
    Office SpaceCommercial Property Brokers
    Commercial Real Estate Miami
    Commercial Real Estate Brokers

    Office Space For Rent

    Commercial Real Estate For Sale
    Office Suites
    office space rent

    Office Space For Rent Miami
    Commercial Real Estate Broker
    Hotels For Sale

    warehouse space WarehousingMiami Dade Commercial Real Estate
    Commercial Real Estate Miami Florida

    miami warehouse for sale  office space
    commercial property
    Warehouse For Lease
    Office Space For Rent

     8

    Miami Florida Warehouse Lease
    Hotel Sale

    Warehouse Lease Miami
    Commercial Real Estate Brokers
    Shopping Malls For SaleCommercial Real Estate Listings
    office space for rent
    Building For Lease
    Rental Warehousing

    10
    office space 
    Commercial Properties
    Comercial Property
    Office Space Lease
    Miami Warehouses For Lease
    Commercial Property Agents
    Rent Office Space
    Office Space

    Office Building For Sale
    Commercial Real Estate Market
    Commercial Property
    Commercial Broker
    office space to rent

    commercial real estate
    commercial real estate brokers
    Office Rent
    warehouse space
    Miami Commercial Real Estate Broker
    office building
    Buildings For Sale
    Offices For Sale
    Hotels For Sale
    Office Buildings
    Office Buildings

    12
    Motels For Sale
    Commercial Property Miami

    2
    warehouse for sale
    Warehouse Space For Lease
    Miami Properties
    commercial office space
    Malls For Sale
    Commercial Real Estate Miami Fl
    Commercial Office Building
    Commercial Real Estate Broker
    Miami Office For Rent
    Warehouses Miami Airport Area
    Commercial Real Estate Listings
    Commercial Property Agents
    commercial real estate
    Commercial Real Estate In Florida

    warehouses for rent

    Office Space For Sale
    commercial real estate companies

    Commercial Real Estate Listing
    Miami Warehouse Lease
    Commercial Property
    Commercial Realtors
    Hotel Brokers
    Orlando Commercial Real Estate Brokers
    Warehousing

    Office Building For Sale
    Property Search Commercial
    Office Space
    Office Warehouse
    office space 
    commercial property for sale
    Office Buildings
    Office Lease
    office space for rent
    Warehouse For Sale
    Renting Office Space
    commercial property

    13
    Commercial Realtors
    14
    Warehousing Facilities
    Office Building For Lease
    warehouse for sale in Miami
    Office Space For Lease

    7
    Commercial Real Estate Brokers
    Office Buildings For Sale
    commercial realty
    warehouses

    15
    warehouses
    commercial real estate Miami
    warehouse space
    warehouse space
    Motel For Sale
    Miami Commercial Real Estate
    Office Space Rental
    Miami Commercial Properties
    3
    Commercial Real Estate Broker Miami
    Office Building Sale
    Commercial Real Estate Orlando Florida
    Commercial Real Estate Agency
    Hotel Sale
    Warehouses For Sale In Miami

    Commercial Realtors
    commercial real estate brokers
    Miami Commercial Real Estate Companies
    warehouse
    Warehouse Space For Rent
    Rent Space Warehouse
    Commercial Real Estate Mortgage
    Warehouse For Lease
    Warehousing
  12. ali | Feb 06, 2017
    Gives you the best website address       I know there alone you'll find how easy it is. Pilotenkoffer
  13. Alvin Spencer | Dec 13, 2016
    The Los Angeles River rejuvenation exhibits a special chance to create underutilized land and construct new transportation associations, assignment help uk making a strong arrangement of maintainable, flourishing, evenhanded groups all through Los Angeles County. Fruitful redevelopment along the stream will be a key segment of the locale's feasible development system for a considerable length of time to come.
  14. David Gibbson | Dec 01, 2016
    I think the collaboration of Eva Longoria and Turner Impact Capital will result in the beginning of a new era in Spur investment in workforce housing. So I am expecting a lot from this team. Keep sharing more posts here! best cloud backup
  15. Lula turner | Nov 23, 2016

    I think this is one of the best techniques to gain importance of the people through famous actors and my opinion is that it will work because of these types of marketing help always better for the promotion for business.

  16. shayan | Nov 17, 2016
    Excellent work
    http://www.eventgreetings.com/
  17. rush blaire | Nov 04, 2016

    It is a wise step by the Turner Impact Capital to start investment firm focusing on social-impact investing. The news was interesting to read. Thanks for sharing the news that the increased development costs and declining public subsidies have constrained development of new units, according to the Urban Land Institute’s Terwilliger Center for Housing.

    directv
  18. Jack kevin | Nov 04, 2016
    Speculation administration firm Turner Impact Capital says it needs to pay for assignments to be done address the lack of reasonable lodging over the United States.
  19. Rose | Oct 31, 2016
    Excellent step for the organization. As they are also beneficial for high level of social awareness. Attention all students now don't get anxious we have some good news for you we are providing Assignment writing help when you don't have time to complete your assignment we will complete it for you.
  20. Denny | Oct 24, 2016
    startup is the best way to improve your skills  kapil Sharma Team

  21. jakc | Oct 13, 2016

    was looking for something like this… Great post. Thanks! solidworks 2017 crack

  22. jack | Oct 13, 2016
  23. SUV rental | Oct 13, 2016
    gREAT 
  24. Dev | Oct 10, 2016
    This is an informative post review. I am so pleased to get this post article and nice information. I was looking forward to getting such a post which is very helpful to us.Thanks for sharing. Hostgator Promo code
  25. Thanh | Oct 03, 2016
    shareit app is popular data sharing app. Download the shareit app latest version, faster nd better than previous version Latest SHAREit Version
  26. Eva | Oct 03, 2016
    Eva Longoria Terrarium TV
  27. Glenn Close | Aug 30, 2016
    that is a great idea, working together will increase the chance of opportunity and can help one another get the different ideas about housing,hope you check my reference and start to work together and make one awesome team.
  28. RobertMorris | Aug 10, 2016
    A standout amongst an essential type of competition in a business is value, so clearly the lodging business sector is useless (and maybe fixed) if value rivalry just exists at the exceptionally top of the business sector and no place else. purchase dissertation online. It's interesting without supply.

    Leave a comment

     
     

    This post may include "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs, which are based on our current beliefs and various assumptions concerning future events and circumstances that are subject to change.  Actual results and events may ultimately be materially different.  All forward-looking statements are based on information available on the date published, and we assume no obligation to update these statements.  You should not construe this post as investment, tax, accounting or legal advice.