CIM Group and Bryant Group Ventures (BGV), founded by entrepreneur and philanthropist John Hope Bryant, have launched CIM-BGV Impact Ventures, a new partnership designed to address the growing affordable housing shortage while driving economic opportunity in underserved communities across the United States. The launch marks the establishment of the CIM-BGV Affordable Housing Impact Fund (AHIF), which has closed its first round with a total investment capacity of more than $250 million.
The fund, which encompasses both equity and loan commitments, aims to reach a total capacity of approximately $1 billion within the following year. Anchor investors include Flagstar Bank and Truist Bank, joined by City National Bank and other major financial institutions. The initial commitments underscore a strong institutional belief in the role of impact-focused capital in creating affordable housing and strengthening communities.
The AHIF will focus on acquiring and developing affordable multifamily properties across key markets, including Southern California, Georgia, the Washington, D.C. Metro area, the New York Metro area, and Florida. Its strategy will combine CIM Group’s deep operational expertise in real estate, credit, and infrastructure with Bryant’s three-decade record of championing financial empowerment and economic inclusion. Collectively, Bryant-led organizations have facilitated over $4 billion in capital to underserved communities across the nation.
In addition to expanding access to affordable housing, the partnership will promote financial literacy and economic mobility through community-based programs. It also plans to engage local vendors to deliver property services, reinforcing local economic participation. The structure of CIM-BGV Impact Ventures provides Community Reinvestment Act (CRA) credit opportunities for financial institutions, encouraging banks to align their investments with social impact outcomes.
The fund’s initial closing attracted strong interest from banking leaders who view the initiative as a meaningful path to inclusive growth.
KEY QUOTES:
“We’re committed to expanding access to affordable housing and economic opportunities in the communities we serve. We’re proud to support partners who share our purpose to drive lasting change through investments that empower individuals and strengthen neighborhoods.”
Kathy Farrell, Head of Truist Asset Finance
“Too many families across the country are struggling to find stable, affordable housing. We see CRA investments as part of a broader solution, helping communities expand access to housing, stability, and opportunity. Our investment in the CIM-BGV Affordable Housing Impact Fund is one way we’re working to break down these barriers, supporting a fund guided by a dedicated Community Impact Committee and focused on measurable impact and inclusive economic growth. Earlier this year, we convened nonprofit and community leaders across housing, small business, and underserved communities to help reimagine our CRA engagement—this investment is a direct reflection of that shared vision in action.”
Joseph Otting, Chairman, President & CEO, Flagstar Bank
“City National Bank is proud to support the CIM-BGV Affordable Housing Impact Fund as part of our expanded commitment to help address local community needs through innovative partnerships. We view this fund as a strategic opportunity to advance housing stability and promote financial mobility for low-to-moderate income individuals and families, consistent with our focus on driving meaningful impact in the communities we serve.”
Adey Tesfaye, Head of Community Reinvestment, City National Bank
