ASI MFIF – Crosswinds Fact Card

ASI Multifamily Impact Fund, LP Acquires Crosswinds Apartments

The ASI Multi-Family Impact Fund, LP, which is focused on providing Affordable and Workforce housing primarily serving minority populations and lower income residents, recently acquired Crosswinds Apartments – affordable, 109-unit multifamily property situated in Chesapeake, a quiet suburban community located less than seven miles from downtown Norfolk, Virginia. Crosswinds is comprised of 8 two-story brick masonry garden-style residential buildings which includes a leasing office, with community amenities including laundry facilities, playground, outdoor covered mailbox area and picnic area/BBQ grills. Placed in service in 2004, the Property is subject to LIHTC Regulatory Agreements restricting 100% of the units to 60% of Area Median Income with 30 units or 28% of the tenant base receiving Section 8 vouchers. Click the button below to learn more about the Crosswinds property, or click here to learn more about the ASI Multi-Family Impact Fund, LP and feel free to contact CommonGood Capital for more information.

VIEW PROPERTY FACT CARD

There are significant risks and investment costs associated with an investment in ASI Multi-Family Impact Fund, LP. This investment is considered speculative, illiquid, and not suitable for all investors. To view a summary of these risks and costs, see the Risk Factors in the Fact Card. This material must be read in conjunction with the prospectus to fully understand the implications and risks involved in this offering. Carefully read the prospectus before investing.

Fact Card
Prospectus

Footnotes

[1] National Low-Income Housing Coalition.
[2] Preserving Multifamily Workforce and Affordable Housing, Stockton Williams, Urban Land Institute.
[3] Please refer to the private placement memorandum for MFIF for a full description of the terms of the offering.
[4] While the Preferred Return is a term of the offering, there is no guarantee that there will be sufficient funds to pay the Preferred Return.
[5] Following the full return of invested capital and the Preferred Return to Investors, the GP will be entitled to 20% of any additional cash generated with respect to each investment, subject to a Catch-Up provision.
[6] (i) During the Investment Period, 1.50% per annum of Capital Commitment, and (ii) after the Investment Period 1.50% per annum of Net Invested Capital.
[7] Discount applies to first $5M of complete and irrevocable Capital Commitments received by the General Partner.
[8] Occupancy and collection data for the six properties in Alliant Strategic Preservation Fund II, Ltd.
[9] Housing Affordability And Children’s Cognitive Achievement, Newman and Holupka.
[10] Numbers stated include assets of funds owned by ASI’s affiliate, Alliant Capital, Ltd.

Related News