Portfolio Partner Profile
Workforce Housing I - Pines At Carolina Place
Calvert Impact Capital is a participant in an acquisition line of credit led by Low Income Investment Fund (LIIF) for the NHP Foundation (NHP), which helped finance the acquisition of a 200-unit multi-family rental property known as Pines at Carolina Place, located in Pineville, Mecklenburg County, NC – part of the Charlotte metropolitan area.
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Pines At Carolina Place
The Pines at Carolina Place Apartments (PCPA) is an existing 200-unit, 10 acres, 389-parking space property. NHP plans to acquire and hold the property for long term cash flow, intending to enhance property performance by improving property management and by requesting property tax exemption. The acquisition of this property allowed NHP to complete building improvements and preserve long-term affordability in an area convenient to public transportation, retail amenities and schools.