SoLa Impact just landed upwards of $100 million in financing backed by more than a dozen affordable apartment buildings across Los Angeles County. The private equity-backed development firm closed a $105 million financing package tied to 14 properties in the county, the Los Angeles Business Journal reported. SoLa Impact plans to use the funds to recapitalize ground-up construction projects totaling 465 units, more than half of which are designated for tenants earning 60 percent or less of the area median income. In Los Angeles County, that works out to an annual income of roughly $45,390 or less for a one-person […]
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