Malcolm Johnson, Founder and CEO of Langdon Park Capital, LLC, joined Julie Cooling, Founder and CEO of RIA Channel, at the CAIS Alternative Investment Summit to discuss impact investing in multifamily real estate.
Langdon Park Capital is an institutional real estate investment manager that seeks to create social impact in Black and Latino communities by investing in multifamily properties while offering strong investment returns. The firm focuses on high-growth, high-cost markets such as Los Angeles, Oakland, and Washington, DC., and residents who earn less than 120% of the median area income.
Langdon Park’s entire investment team knows these neighborhoods well, as they have lived, volunteered, coached, and/or mentored in these communities. The opportunity to impact communities is great, as over 33 million US renters are cost burdened with paying over 30% of their income for housing. In many cases, these residents face the hard choices to either live in substandard housing or endure long commutes to work.
Langdon Park purchases existing workforce housing and seeks to improve the quality of life for residents through capital expenditures. Upgrades focus on necessities such as safety, security, and energy efficiency rather than luxury amenities that would make the community unaffordable.
Langdon Park Capital is launching a ten-year fund currently focused on three communities in Southern California and one in Washington, DC. The firm seeks to impact the community by providing access to after-school care and tutoring and upskilling residents through job fairs and employment opportunities.
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