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nfinity Real Estate Partners has secured an $18.75 million investment from American South Capital Partners (ASCP) to acquire and renovate a 1,068-unit affordable housing portfolio in North Carolina and South Carolina. The seven communities, built between 1968 and 1973, are governed by the U.S. Department of Housing and Urban Development's Housing Assistance Program.

    The properties include Brentwood Crossing in High Point, NC; Boulder Creek in Greenville, SC; Crescent Hill Apartments in Spartanburg, SC; Roosevelt Gardens in Orangeburg, SC; Spring Grove Apartments in Taylors, SC; Cedar Moor Apartments in Raleigh, NC; and Timber Ridge in Charlotte, NC. Approximately 25% of renters in these markets are severely rent burdened, paying as much as 50% of their income on rent.

    Infinity Real Estate Management is committed to preserving housing affordability for the next 20 years. "This achievement would not have been possible without the invaluable support of our equity partner, American South Capital Partners," said Infinity Chief Investment Officer Gregory B. Jones. "Together, we are ensuring that these homes remain accessible to families and individuals who need them most."

    Infinity will use a portion of the investment to fund interior and exterior improvements across the portfolio, including new appliances, cabinets, and flooring. Renovations will be completed while units are occupied to avoid displacing tenants. Infinity will also address deferred maintenance by repairing or replacing roofs, air conditioning, and plumbing as needed.

    Upon completion, 100% of the units will be affordable to individuals and families earning 60% or less of the area median income (AMI), qualifying the investment for 100 percent of Community Reinvestment Act Credit. Each property will have a dedicated community coordinator that works with local organizations to provide supplemental services like after-school care, financial literacy, and resume services for tenants.

    ASCP invests in affordable housing real estate projects located in 10 Southern states and has collectively committed more than $176 million to 26 projects, financing over 7,025 housing units – 82% of which are affordable to families at less than 80% of the AMI. "Maintaining this housing as affordable – as well as improving the quality of the housing - was critical to ASCP as an investor," said Deborah La Franchi, ASCP Managing Partner and SDS Capital Group CEO.

    Infinity has extensive experience with affordable housing and will bring much-needed quality housing to these markets through its programmatic approach to unit renovations. The partnership between Infinity and ASCP aims to create long-term stability and opportunity for families and individuals in need of affordable housing.