Firm expands into Washington, D.C. market
Washington, DC — Comunidad Partners has announced the launch of its new impact credit platform, Comunidad Credit Capital (C3), led by multifamily leader and Freddie Mac veteran Debby Jenkins who will serve as CEO and partner of the platform.
According to Antonio Marquez, founder and managing partner of Comunidad Partners, “The secular demand of affordable workforce housing and the current market environment lends itself to an impact-oriented capital markets provider, as there has never been a more opportune time, nor a more proven leader than Debby Jenkins, to introduce an innovative credit platform led and owned by diverse leaders.”
The launch of the new entity is well aligned with Comunidad’s mission and values of enhancing community and creating opportunity for the underserved, explains Jenkins.
“Not only does this align with Comunidad’s values, but it is also well-aligned with my personal and professional values and experience leading the nation’s largest multifamily finance platform,” says Jenkins. “The chronic lack of capital being invested into workforce and affordable housing threatens the existence of these properties, which ultimately negatively affects the diverse tapestry of residents who reside in these communities.”
The Federal Housing Finance Agency (FHFA) recently announced that in 2023, multifamily loan purchase caps for Fannie Mae and Freddie Mac will include a mission-driven category for workforce housing properties, providing incentives for borrowers to maintain rents at affordable levels for extended periods of time, Jenkins notes.
“Given FHFA’s strong focus on affordable and equitable housing, I believe this is an opportune time to introduce a platform that will keenly focus on these important issues,” said Jenkins. “Despite the significant increase in interest rates and economic uncertainty going into 2023, we believe the rental housing sector, and specifically workforce housing, is positioned well. This market sector has proven its resiliency during the last financial crisis as well as the recent pandemic. It is our intention to contribute to this by aligning with FHFA and the multifamily industry by providing a consistent source of capital to workforce and affordable housing borrowers.”
Increased interest in ESG investing, lack of capital available for diverse borrowers, and changing market conditions present ideal circumstances for launching C3, adds Marquez. “Our platform offering matches the market opportunity now and long into the future while filling a true void in the marketplace, addressing scalable impact solutions for workforce and affordable housing by a seasoned and diverse leadership team. Debby is the ideal leader for this new platform, as she brings a wealth of knowledge and deep expertise in multifamily capital markets finance but also has been incredibly successful in catalyzing affordable workforce housing capital and impact capital in diverse communities throughout the country.”
Through Comunidad Credit Capital, the benefit is two-fold, Jenkins concludes.
“This industry-changing platform will bring capital opportunities in equitable ways to those who may not have access to them, all while maintaining the stability of affordable and workforce housing,” said Jenkins. “I am incredibly excited to join the Comunidad family and debut this innovative program.”
Comunidad Credit Capital will officially launch in the Spring of 2023.
Comunidad Partners is proudly 100% minority and women-owned and heavily focuses its investments activities on positively impacting communities through its ESG practices and its corporate culture of diversity, equity, & inclusion.