Withdrawals from socially conscious investment funds in the U.S. reached a record high in the fourth quarter, a reflection of pushback against ESG and diversity, equity and inclusion initiatives within the federal government, the general business community and commercial real estate.
But even as the concept of impact investing has fallen out of favor with many institutional-level investors, a slice of the multifamily world is leaning into socially conscious deals as a durable business strategy amid broader strife for apartment landlords.
“There’s long-term stability in affordable housing, and you can’t say that about the market-rate marketplace,” said Pastor Martin Porter of Los Angeles-based…