LOS ANGELES, CA - Turner Impact Capital, one of the nation’s largest social impact investment firms, has launched a dedicated property management company, TI Communities, to provide a full range of professional services for workforce housing communities owned by the Turner Multifamily Impact Fund (TMIF). TI Communities will support TMIF’s mission to drive operational excellence and achieve significant and measurable social and environmental impact.
In addition to overall property management, TI Communities will oversee the delivery of resident-focused enrichment programs that are a hallmark of TMIF communities and implement sustainability initiatives. These programs include education-, healthcare-, and security-related services, such as after-school tutoring, financial literacy courses and health screenings that are tailored to the needs of each community and promote neighborhood stability.
“TI Communities will provide mission-driven property management of the highest caliber to achieve our unique objectives as we continue to scale our housing fund across the country,” said Bobby Turner, Principal and CEO of Turner Impact Capital. “Having a skilled and compassionate team that is equipped to foster life-enriching experiences for our residents is vital to our mission of preserving affordable workforce housing for families and individuals, while at the same time providing strong market-rate returns for our investors.”
TI Communities’ Dallas-based executive team will be led by Christine Schoellhorn, an industry veteran with more than 25 years of management experience. They will be supported by a diverse group of nearly 100 associates located across TMIF’s footprint as well as professional experts in the areas of education, security, healthcare, and environmental sustainability.
“I am thrilled to lead an organization so committed to making a difference in people’s lives,” said Schoellhorn, President of TI Communities. “My talented team and I are focused on creating a welcoming and nurturing environment where our residents can truly thrive. This philosophy will continue to drive positive impact for our communities and strong operating performance for our client.”
The Turner Multifamily Impact Fund was launched in 2015 to help address the growing shortage of affordable workforce rental housing in densely-populated, ethnically diverse urban communities throughout the U.S. Residents include community-serving professionals such as teachers, police officers, health care workers, and others who earn too much to qualify for subsidized housing, but not enough to afford higher cost apartments or home ownership in the communities located near their workplaces. The fund currently includes more than 4,000 units in 12 communities located in Texas, Florida, Georgia, Maryland and Nevada, and is on course to grow to approximately 10,000 units in apartment communities totaling $1 billion.
Celebrated actress and philanthropist Eva Longoria and NBA superstar Chris Paul have joined forces with the firm as partners and ambassadors for the Turner Multifamily Impact Fund. In those roles, Longoria and Paul help raise awareness about the critical need for workforce housing in the United States and help ensure that the fund is meeting the needs of residents in urban communities.
Dedicated to generating “profits with a purpose,” Turner Impact Capital is an acknowledged leader and innovator in the growing field of social impact investing – an investment approach that takes into account two goals: generating positive, risk-adjusted financial returns and creating purposeful, measurable, and positive social and environmental impact through those investments. Founded in 2014, the firm is on course to surpass $2.5 billion in investment potential to address a multitude of challenges facing urban neighborhoods while delivering superior risk-adjusted returns for its investors.
In addition to multifamily workforce housing, Turner Impact Capital is focused on two complementary investment strategies to help address some of the country’s most pervasive social issues through real estate infrastructure-related solutions. The firm’s targeted education strategy – the Turner-Agassi Charter School Facilities Funds, a partnership with tennis legend Andre Agassi – seeks to meet the growing demand for quality charter school facilities, improving the educational achievement and life outcomes for underserved students. The firm’s healthcare strategy – the Turner Healthcare Facilities Fund – invests in community-serving healthcare facilities to improve access to top-quality medical care to improve healthcare outcomes for residents of underserved communities.