The newly capitalized real estate fund will target projects in low-income areas of the southern states.
The foundation has already funded a project in the south of Dallas.
The second US Southern Real Estate Fund will provide $ 28 million in seed money to invest in projects in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
The fund is managed by SDS Capital Group and Vintage Realty Co. from Shreveport from Los Angeles. Bank of the Ozarks, Cadence Bank and Texas Capital Bank are investing in the venture.
The first investment fund provided funding for Innovation Center 4315, a mixed-use project in South Dallas, adjacent to the Veterans Administration Medical Center.
A real estate company owned by former Dallas Cowboys star Emmitt Smith, E Smith Communities, has teamed up with the American South Real Estate Fund to fund and renovate a former City League building on South Lancaster Road. The 30,000-square-foot building is being converted into a public office center and retail space.
This new complex will house premises for the Dallas County Community College, UNT Dallas and Guru Financial.
“American South Real Estate Fund has been an excellent financial partner for our Lancaster project in South Dallas,” Smith said in a statement. “The foundation team brings a spirit of collaboration and engagement to the design and implementation process that reflects their deep commitment to the core mission behind their investment.”
The first fund has funded more than a dozen projects across the South.
“Our original ASREF I has proven that we can invest in underserved communities and achieve both our positive impact goals and the desired financial returns for our investors,” Deborah La Franchi, Founder and CEO of SDS, said in a statement. Capital Group. …
The new fund will finance construction from $ 7.5 million to $ 20 million per project.
“The capital injections are making a significant contribution to economic growth and quality of life, creating a brighter future for these communities,” Angela Hudson, director of public responsibility at Bank of the Ozarks, said in a statement. “These investments not only bring financial benefits to investors, but also create a sense of deep satisfaction with the knowledge that fund capital will lead to change and revitalize communities in need.”