Tru-Capital Investment Fund LLC provided a $6 million equity investment to CB-Emmanuel Realty, LLC, to assist in the construction of affordable homes in Queens.
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A $6 million strategic equity investment was provided to the Queens-based real estate development firm CB-Emmanuel Realty, LLC, by TruFund Financial Services‘ wholly owned subsidiary, Tru-Capital Investment Fund LLC, on Friday, June 12.
The investment into this firm, which is focused on creating affordable, mixed-use, residential and commercial development projects in historically underserved communities, is meant to represent a significant step in advancing equitable community development and expanding access to affordable housing opportunities for those with low- and moderate incomes across Queens.
The investment was made through the Impact Developers Fund, which is managed by Tru-Capital, the fund’s general partner. The Impact Developers Fund was created to help address longstanding inequities in real estate finance. It provides flexible and patient equity capital to affordable housing developers who have been historically under-resourced. Tru-Capital is working to foster inclusive economic growth and support developers whose work benefits underserved communities through strategic investments and tailored financial solutions.
The equity investment will support the growth of CB-Emmanuel Realty while also strengthening its balance sheet and expanding its operational capacity to advance a robust pipeline of transformative housing and mixed-use developments.
“This investment reflects TruFund’s continued commitment to advancing economic mobility and expanding access to quality affordable housing in communities that have historically faced longstanding barriers to capital,” TruFund President and CEO James H. Bason said. “CB-Emmanuel exemplifies the type of mission-driven developer we seek to support through the Impact Developers Fund, organizations with the vision, expertise and community-centered approach needed to create lasting impact. We are proud to partner with them as they scale their efforts to deliver transformative development projects that strengthen neighborhoods and improve lives.”
CB-Emmanuel has built a strong reputation when it comes to delivering projects that address housing shortages and catalyze long-term neighborhood revitalization through thoughtful planning, community engagement and sustainable development practices. Their work reflects a broader commitment to creating vibrant communities where residents are able to live, work and thrive.
“Access to flexible, patient and mission-aligned capital is critical for minority-led developers seeking to compete for larger affordable housing and community development opportunities,” CB-Emmanuel Realty Co-Founder and Managing Partner Benathan “Ben” Upshaw said. “This investment from TruFund’s Impact Developers Fund strengthens our ability to scale responsibly, preserve existing affordable housing and create new housing opportunities in communities where high-quality, affordable homes are urgently needed.”
Tru-Capital and CB-Emmanuel Realty’s partnership underscores their shared commitment to addressing the affordable housing crisis in New York City and across the United States through innovative investment strategies and mission-aligned collaboration. Equity investments like these are critical in ensuring developers have the necessary resources to bring sustainable and equitable growth to these communities.